The territories cover the States of Pennsylvania, Kentucky and Indiana. HAD Three Corp. will contribute U.S. $33 million for a 49% interest in the three factories in the above-mentioned states. An additional irrevocable down payment of U.S $300,000 on account of a license fee of U.S. $3,750,000 covering the above three states was paid on June 18, 1999. In addition, HAD Three Corp. will pay to IHI-International the remainder of the license fee for the above three states five months after the factory in Delta, Canada enters into commercial production.

The business venture will involve the application in the above territories of the building technology licensed to IHI-International. "This brings the total number of joint venture factories to be established in the U.S. to sixteen, and the number of joint venture factories to be established worldwide to thirty," said Mr. Rached. "We are proud to have pre-sold 49% interest in thirty factories worldwide even prior to finalizing the Delta factory. The latest increase in above prices reflect the increasing demand, confidence and willingness of our joint venture partners to secure their purchases," Mr. Rached added.

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. Finally, it is worth noting that Hi-Tech America Development Corp. has secured a 30 acre industrial lot in Orlando, Florida. Engineering works will commence soon.

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