�We would like to thank FANUC Robotics for their innovative leadership and dedication,� said Mr. Rached. Even before receiving a financial commitment from IHI, FANUC spent six months working with the executive staff and technical experts from IHI to develop full scale robotic welding simulations and reach studies of different IHI panel sizes. The simulation exercise helped to validate conservative output projections that were higher than IHI�s business plan assumptions related to maximum output. �I believe that FANUC Robotics understands the true potential of our Company and sees IHI as a valuable partner for the future,� said Mr. Rached.

Financing in Place

Further to its news release dated February 14, 2000, the Company has accepted subscriptions for 3 Million Series 2 Preferred Shares with detachable warrants. Gross proceeds total $3 Million. The Series 2 Preferred Shares will be subject to the customary four month hold period. The maximum offering is comprised of 5 Million Series 2 Preferred Shares with detachable warrants.Subscriptions for more than the maximum offering have been received by the Company. Accordingly, the Company will be unable to fill all subscriptions and has determined to close its subscription books, having achieved the maximum offering several months early. In some cases, investors have paid a premium to the offering price of $1.00 per Series 2 Preferred Share. Completion of the offering is subject to regulatory acceptance.

�Even though we are six months away from commercial production, the milestones achieved to date have allowed us to put in place the blueprint for all future IHI factories worldwide,� said Mr. Rached. �Our Canadian factory will be replicated in our 30 joint venture factories for which we have received irrevocable downpayments in advance of the commencement of commercial production at our Delta facility. We are also committed to establishing other factories in international locations around the world where the IHI system is needed and patented. The Company has protected its technology with 72 patents that are filed or pending in 180 countries over 100 of which have fully issued patents. With our subsidiary, IHI-International Holdings Ltd. (with licenses for territories covering approximately 99% of the worldwide construction market value) we will leverage off our success in Canada. The speed of construction, flexibility of design, strength, durability, accuracy, future on-line ordering capability and use of inert and environmentally friendly raw materials (see the Company�s news release regarding Globe 2000 dated March 8, 2000) make the potential for IHI�s product virtually limitless in the global marketplace.�

�I would like to thank all our shareholders, especially the ones who have been with us from the beginning, for their patience and vision.�

This release contains forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward looking statements. Readers should not place undue reliance on the forward-looking statements, which reflect the management�s view only as of the date hereof. The Company undertakes no obligations to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

International Hi-Tech Industries Inc. is a company whose principal business is the development and commercialization of a new building system in Canada, and internationally through its subsidiary, IHI-International Holdings Ltd.