DATE: February 17, 2000

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

Company Receives over $3 Million

International Hi-Tech Industries Inc. ("the Company") is extremely pleased to announce that it has received $2.65 million of a total $3 million to be paid for three million Series 2 Preferred Share Units, and $.5 million on account for a $5 million private placement as per the Company's news release dated February 14, 2000. The placement is subject to regulatory acceptance.

"Following the closing of the placement, the Company will be in a position to order the robotic welding and cutting equipment within two weeks", said the Company's President, Mr. Roger A. Rached.

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

* * * * * * * *

For further information please contact:
The company's head office: 1-604-733-5400
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.