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Russell Industries September Update
HOUSTON--(BUSINESS WIRE)--Russell Industries, Inc. (Pink Sheets:RSDS) would like to issue an update on several events that have taken place this month. Russell Industries has elected to not acquire American Uranium Mining, Inc. as was reported on June 19, 2007. “RSDS does not have the necessary financing in house and has decided not to pursue the debt financing necessary to acquire AUMN. Alternatively, RSDS has decided to use its available funds and any additional equity funds raised to continue its strategic business plan,” said Rick Berman, President and CEO. The Company is also announcing that 2,350,799,998 of restricted common stock owned by its President and CEO have been returned to treasury which dramatically reduces the number of its outstanding shares. Effective immediately, the Company and its Transfer Agent will update and report its outstanding shares on a quarterly basis.

“RSDS does not have the necessary financing in house and has decided not to pursue the debt financing necessary to acquire AUMN. Alternatively, RSDS has decided to use its available funds and any additional equity funds raised to continue its strategic business plan”
On August 29, 2007 an independent uranium drill logging contractor extracted core samples from ten holes on the Company’s Cache Claims, located in Utah’s Lisbon Valley. The samples were from holes drilled at an average of 280 feet. The measurement averaged less than three one hundredths which is not considered a sufficient value to be mined. Russell Industries was advised to continue drilling to additional depths up to 200 feet per hole on its Cache Claims. The Company has also sent core samples from its Rage Claims located in Utah’s Elk Ridge, to be assayed and anticipates the results to be issued before the end of September.

Russell Industries, a Nevada Corporation, was incorporated in 1997. Russell Industries is a holding company that will acquire assets in the energy, mining, healthcare and financial industries. The Company owns a majority ownership interest in 254 Uranium Mining Claims as of September 25, 2007.

Safe Harbor

Forward-Looking Statements: Except for historical information contained herein, statements are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted projections. These risks and uncertainties include, among other things, energy market volatility, product demand, market competition, and risk inherent to the company's research and development operations.


Contacts
Russell Industries, Inc.
Rick Berman, 832-631-6074
Fax: [phone]
[e-mail]
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