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Amiworld Inc. - Business Activities Update
Hamilton, Bermuda: 8th February 2005 - The Directors of Amiworld Inc. are pleased to make the following announcements:
1. Amiworld Inc. will be submitting to the Listing Committee of the Bermuda Stock Exchange in the next 60 days for approval an amended prospectus.
This Amended prospectus will significantly alter the range of activities for which Amiworld will be allowed to engage which reflect a desire on the part of the Company's Management and Shareholders to shift its focus from holding and managing Real Estate opportunities in the Southern United States and Florida.
Instead, the Company intends to focus its activities on investments for which its Senior Management have proven expertise - the sale of consumer items throughout Asia and/or those which offer great short term profit potential.
2. Since 1999, Amiworld Inc. has made various loans to related party entities. Those loans were made with the knowledge of and approval of its Board of Directors and Shareholders. These loans have generated a return for the Company and were deemed by the Directors to be prudent business investments.
3. Amiworld Inc. has entered into a contract with Z International, a Venezuelan Company. Z International has an exclusive relationship with Don Veitia, which is a Caracas, Venezuela based Corporation that has exclusive contracts for the sale and distribution of high end chocolates and coffee products.
Amiworld Inc.'s Senior Management sees excellent growth potential for this company primarily in the Asian, European, North American and the fast growing South American consumer market. The chocolate and coffee products have received high marks in consumer tests and have been well received wherever they have been displayed.
4. With effect from January 27, 2005, the Bermuda based accounting firm of Arthur Morris Christensen & Co resigned as auditor to the Company. This decision was made on the basis that for liability reasons they can no longer audit US domiciled companies. As a result of this decision Amiworld Inc. is actively seeking replacement auditors to perform the required audits for the years 2002, 2003 and 2004 and a further statement will be made upon appointment of a new auditor.
Amiworld Inc.
60 East 42nd Street
Suite 1225
New York
New York 10165