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Exhibit 99.1. Press Release

American Group, Inc. Unaware of Events that Would Cause Increase in Trading
Activity

BOYNTON BEACH, Fla.--(BUSINESS WIRE)--May 16, 2002--American Group, Inc.
(OTCBB:AMCG - News) announced today its position regarding the recent increase
in trading activity and share price of its stock. The Company states that it is
unaware of and has no knowledge of any event that would cause or result in
trading of this nature.

This news release may contain or incorporate by reference "forward-looking"
statements, including certain information with respect to plans and strategies
of American Group, Inc. For this purpose, any statements contained herein or
incorporated herein by reference that are not statements of historical facts may
be deemed to be forward-looking statements. Without limiting the foregoing, the
words "believe(s)," "anticipate(s)," "plan(s)," "expect(s)," and similar
expressions are intended to identify forward-looking statements. There are a
number of important factors that could cause actual events or actual results of
AMCG to differ materially from these indicated by such forward-looking
statements including the actual timing of the relocation to the new plant.


            Copyright 2002 Business Wire




