IRVINE, Calif., June 25, 2002 (PRIMEZONE) -- E. G. Marchi of Resource Asset Management Corporation (OTCBB:RAMG) today announced that with RAMG's recent entry into an estimated $1.5 billion pallet market in Mexico, RAMG is finding a tremendous demand for its wood products. RAMG along with its alliance partner AmeraMex International Inc. (Pink Sheets:AMMX) has recently opened its pallet mill in Baja Mexico close to its source of timber. Mr. Marchi said, "Since the agriculture market is so large and growing, management has decided to build a second mill and retail marketing location immediately, before the first Ojos Negros 2000 pallets capacity per day production site is complete. Management is finalizing negotiations on a site that is ideal to both producing and marketing finish lumber and other retail products. This new location is centrally located to large agricultural and industrial users, shipping to all parts of Mexico. Capitalizing on our current positions, we feel the possibility exists to derive as much as $20,000,000 from the wood products and building materials market in Mexico in the next three years. According to RPM Technologies, a leader in the pallet industry, the world pallet market is approximately $9 billion a year."
Resource Asset Management Corporation engages in acquiring and providing equipment and facilities to a number of its Strategic Alliance Venture's natural resource development activities in Baja California, Mexico, in addition to marketing lumber, wood products, and building materials for those strategic alliances.
This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of company products and related technologies, competitive market conditions, the ability to secure additional sources of financing, the ability to maintain operating expenses at current levels, and other factors described in the Company's filings with the Securities and Exchange Commission. Consequently, the actual results the Company achieves may differ materially from those expressed or implied by any forward-looking statements due to such risks.