Mr. Roger A. Rached, President of INTERNATIONAL HI-TECH INDUSTRIES INC. (the "Company") is very pleased to announce that the third and most important United States patent No. 5,862,639 was issued on January 26, 1999. The new patent covers over 50 claims. In addition, New Zealand has issued a second patent, No. 314544 and Bulgaria has also issued a patent for the Technology. "We are having an excellent start for this remarkable year that will lay the foundation for our progress in the next century," said Mr. Rached.

Two Additional Joint Venture Partnerships Announced - Australia and Honduras

The Company also announces that on December 29, 1998 its majority-owned subsidiary, IHI International Holdings Ltd. ("IHI-International") established a Joint Venture for Honduras with a related company to Hi-Tech Canada Development Corp.

An affiliate of Hi-Tech Canada Development Corp. will contribute U.S. $10 million for a 49% interest in a factory for the region. An irrevocable down payment of U.S $100,000 on account of a license fee of U.S. $1,000,000 has been paid. In addition, the affiliate of Hi-Tech Canada Development Corp. will pay to IHI-International the remainder of the license fee by June 30, 2000. "We are pleased to be able to help rebuild Honduras after the recent devastation they have suffered," said Mr. Rached.

On January 19, 1999 IHI-International also established a Joint Venture with the Cascade Group Pty. Ltd. ("Cascade Group") of Australia. Cascade Group will also contribute U.S. $10 million for a 49% interest in the first factory for the region, and has the option to build additional factories to serve both the Australian and New Zealand markets. An irrevocable down payment of U.S $100,000 on account of a license fee of U.S. $1,000,000 has been paid. In addition, Cascade Group will pay to IHI-International the remainder of the license fee by June 30, 2000. "We are delighted to be able to partner with the reputable Cascade Group to offer construction solutions for the sophisticated Australian market," said Mr. Rached.

The business ventures will involve the application in the above territories of the building technology licensed to IHI-International. Excluding the wholly-owned factory in Vancouver, this brings the total number of Joint Venture factories to be established worldwide to 24.

Through IHI-International, the Company will continue to develop international strategic alliances in order to generate revenue and to market the Company's products on a worldwide basis. Further announcements will be released very soon. Effective March 1, 1999 the contribution by Joint Venture partners (other than the licensing fees) for the 49% interest in the new Joint Venture factories will increase to $11,000,000 USD.

Model of IHI Show Home #2 Now on the Website

Mr. Roger A. Rached invites visitors to view the latest addition to the company's website: pictures of the model for the featured show home that will be built in just two days in mid-February for the 1999 BC Home & Garden Show. Further information can be found at: www.ihi.ca

Factory Progress

Automatic overhead doors and cranes have been installed. Sophisticated mechanical and electrical works are now underway, and are expected to be completed by March 17, 1999. Commercial production is expected to commence on June 30, 1999.

IHI Feature on BTV to be Re-aired in Canada

The BTV (Business Television) segment featuring the Company and the Hi-Tech System that aired in December will be re-broadcast in February on Global's national PRIME TV on the following dates (EST): February 14^th (6:30pm; 11:30pm); 19^th (9:00am); 20^th (6:30am; 7:00pm); 21^st (6:30am).

Key Management and Employee Positions Filled

The Company is proud to announce that, on the verge of commercial production, qualified and experienced personnel have been hired to fill key management and technical positions. Most recently, Mr. Renato Camporese P.Eng. has joined the management team. Joining IHI from Read Jones Christoffersen Ltd. ("RJC Ltd."), one of the largest building engineering consulting firms in Canada, Mr. Camporese has over 20 years of experience in structural design for major Canadian commercial, residential and institutional building projects. Mr. Camporese also gained experience in the capacity of Deputy Director and other positions within the Permits & Licenses Departments of two major cities in British Columbia.

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