DATE: February 14, 2000

Trading Symbol: IHI (CDNX)    IHITF (IHITF.OB for Yahoo) (OTCBB)

SHARE OFFERINGS AND YEAR END RESULTS

Company Agrees to Issue 3 Million Preferred Shares

In 1999, International Hi-Tech Industries Inc. ("the Company") continued to focus on the fundamental issues of completing the structure for its first factory at Hopcott Road in Delta, British Columbia, Canada and securing patents for the Company's new building system technology. Through careful management, the Company was able to reduce its expenses by almost $1 million. After having now arranged for a significant portion of the funding required to purchase equipment for the first production line, the Company can focus on the marketing and delivery of its product.

The Company has agreed to issue three million Series 2 Preferred Share Units for gross proceeds $3 million. Each Series 2 Preferred Share will be accompanied by 0.22 of a Warrant to acquire a Common Share. The Series 2 Preferred Shares are convertible at the rate of .77 Common Shares for each Series 2 Preferred Share. The Preferred Shares are convertible for a period of 2 years at the option of the holder. The Preferred Shares are also convertible at the option of the Company if the closing price of the common shares on CDNX averages at least $2.50 per Series 2 Preferred Share. On the second anniversary date of the issuance of the Series 2 Preferred Shares, the Series 2 Preferred Shares will be automatically converted to Common Shares. Dividends on the Series 2 Preferred Shares are cumulative and will accrue each and every day on each Series 2 Preferred Share for each day that a Series 2 Preferred Share is outstanding at an annual rate equal to 12%. Dividends will be payable in quarterly installments on each dividend date, subject to legal limits under Canadian law. If the Series 2 Preferred Share dividend is not paid, it accumulates until paid in full. The dividends shall be payable in cash. The Issuer has agreed to deposit sufficient funds from the subscription price paid by an Investor with Montreal Trust Company of Canada for a period of two years to fund the dividends payable in respect of the Series 2 Preferred Shares. Each Warrant provides for the purchase of one additional Common Share over a two year period extending from the date of issuance of the Units at a price of $1.30 per Common Share. The net proceeds (after deduction of all applicable finder's fees and commissions and professional fees and costs associated with the offering) will be used to pre-fund all the Company's dividend obligations in respect to the Series 2 Preferred Shares, to pay $540,000 of existing accounts payable and to partially fund the purchase of equipment for the first production line at the Hopcott Road facility. The placement is subject to regulatory approval.

"It gives me a great deal of pleasure to announce that the year 2000 should be a momentous one for IHI!" said Mr. Roger A. Rached, President of the Company. With the proceeds from this offering we will be able to begin delivering product from our first automated production line that will include both robotic welding systems and our fully-computerized state-of-the-art concrete batching plant."

$5 Million Private Placement Announced for a Second Production Line

The Company announces a series of private placements for a total of 6,250,000 Units at a price of $0.80 per Unit (each Unit consists of one common share and one non-transferable share purchase warrant entitling the holder thereof to purchase one additional common share at a price of $0.80 per share if exercised in the first year or at a price of $0.92 per share if exercised in the second year). The total proceeds of approximately $5,000,000 will be used for the purchase of the second production line equipment, including the robotic welding, for the Company's Hopcott Road Property and general working capital.

A cash finder's fee will be paid from the proceeds of the private placement in accordance with Canadian Venture Exchange policies.

The private placement is subject to regulatory acceptance and, if applicable, shareholder approval.

1999 Year End Results

The President is very pleased to report that the Company has continued to demonstrate the attractiveness of its Technology and its expert-oriented business. Despite the poor British Columbia economy, during fiscal 1999 the Company generated $1,187,820 from its licensing activities and generated over $4.4 million from the issuances of its Common Shares. The Company continued to expand its base of strategic joint venture partners worldwide, ending the fiscal year with 23 interim agreements that call for the establishment of up to 30 Hi-Tech Factories.

The Company incurred a net loss of $1,960,681 for the year ended December 31, 1999, as compared to a net loss of $1,453,704 for the year ended December 31, 1998.

The Company has undertaken steps to reduce overhead and other expenses not essential for the completion of the Facility and the sale of its intended products. Audit and accounting costs decreased from $120,302 to $92,067, consulting fees decreased from $376, 961 to $131,107, investor relations and product representation costs decreased from $491,464 to $130,758 and telephone, fax and cellular costs decreased from $79,816 to $39,921. In the aggregate total expenses were $992,838 less in fiscal 1999 as compared to fiscal 1998.

The Company reported a non-cash charge for depreciation and amortization of $202,112 for the fiscal year end, compared to a charge of $231,121 for the prior fiscal year end.

For the year ended December 31, 1999, interest and foreign exchange expense increased to $451,072 from $231,774, principally due to the inclusion of a full year's interest on the mortgage on the Hopcott Road Property, and as a result of higher interest costs associated with mortgages on such property.

Financial Statements will be mailed to shareholders shortly.

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.

ON BEHALF OF THE BOARD OF DIRECTORS

"ROGER A. RACHED"
ROGER A. RACHED, PRESIDENT

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For further information please contact:
The company's head office 1-604-733-5400
Or USA call: 1-800-838-8090
E-Mail: info@ihi.ca
Website: www.ihiintl.com or www.ihi.ca

THE CANADIAN VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
THIS ANNOUNCEMENT IS UNDER NO CIRCUMSTANCES TO BE CONSTRUED AS AN OFFER TO SELL OR AS A SOLICITATION OF AN OFFER TO BUY ANY OF THESE SECURITIES. THE OFFERING IS MADE ONLY BY THE PROSPECTUS.
COPIES OF THE PROSPECTUS MAY BE OBTAINED IN ANY STATE OR JURISDICTION IN WHICH THIS ANNOUNCEMENT IS CIRCULATED FROM ONLY SUCH OF THE AFOREMENTIONED UNDERWRITERS OR OTHER DEALERS OR BROKERS AS MAY LAWFULLY OFFER THESE SECURITIES IN SUCH STATE OR JURISDICTION.