TAMPA, FL -- (MARKET WIRE) -- 10/05/2006 -- Consolidated American Industries Corporation (PINKSHEETS: CMDJ) today announced gross revenues of $10.21 million for the period ending June 30, 2006.

Gross margin was $8.65 million for the year, as compared to $3.34 million for the same period ending June 30, 2005. Gross margin percentage was also higher, climbing from 35.3% in 2005, to 84.7% for 2006. Net income for this same period was $3.70 million, up $2.34 million from last year's net operating income of $1.36 million.

Total stockholder equity as of June 30, 2006 was $16.14 million, as opposed to $7.65 million on June 30, 2005. Earnings per share reached a weighted average of $.23.

Due in part to the sale of several subsidiaries, and a number of acquisitions earlier in the year, the total assets of the company totaled $18.93 million as of June 30, 2006, as compared to total assets of $14.45 million as of June 30, 2005.

Consolidated American Industries Corporation, a Nevada corporation, with principal offices located in Tampa, Florida, is a public holding company involved in the manufacturing, natural resource, and financial services business segments, including real estate lending, management, and development activities. COAM's primary operating subsidies include: LoanWell Financial Corporation; Fusion Real Estate Corporation; Fusion Mortgage Corp.; VersaStone of Florida Corporation; Consolidated American Rubber Corporation; and Consolidated American Resource Development Corp.

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of the Company's products, the competitive environment within the industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company's expansion efforts, economic conditions in the industry and the financial strength of the Company's customers and suppliers. The Company does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.