CORRECTING and REPLACING American Mold Guard, Inc. Announces Paulson Investment Company, Inc. Has Exercised the Balance of Its

Please replace the release dated May 31, 2006 with the
following corrected version due to multiple revisions.

   The corrected release reads:

   AMERICAN MOLD GUARD, INC. ISSUES CORRECTION OF PRIOR PRESS RELEASE
ON EXERCISE OF BALANCE OF OVERALLOTMENT OPTION

   American Mold Guard, Inc. (Nasdaq:AMGI, AMGIW, AMGIZ) (BSE:AML), a
provider of mold prevention services to the residential real estate
construction industry, today announced that Paulson Investment
Company, Inc. ("Paulson"), the representative of the several
underwriters of its initial public offering that was effective April
26, 2006, will purchase 100,000 shares of the Company's common stock,
100,000 Class A Warrants and 100,000 Class B Warrants pursuant to the
overallotment option that the Company had granted to Paulson in
connection with its initial public offering. The Company had
previously reported that Paulson had advised that it would purchase
205,000 of each class of securities. The closing for the sale and
issuance of these securities has been rescheduled for June 7, 2006.
The net proceeds to the Company are expected to be approximately
$600,000. Paulson has until June 10, 2006 to exercise the balance of
the overallotment option.

   About American Mold Guard, Inc.

   Founded in 2002, American Mold Guard, Inc. is an industry leader
in the field of mold prevention services. Its services are primarily
focused on the residential real estate construction industry in
California, Texas, Florida and Louisiana. Its customers include many
of the largest national and regional home builders. Visit:
www.americanmoldguard.com

   Statements in this press release that are not statements of
historical or current fact constitute "forward-looking statements."
Such forward-looking statements involve known and unknown risks,
uncertainties and other unknown factors that could cause the Company's
actual operating results to be materially different from any
historical results or from any future results expresses or implied by
such forward-looking statements. In addition to statements that
explicitly describe these risks and uncertainties, readers are urged
to consider statements that contain terms such as "believes,"
"belief," "expects," "expect," "intends," "intend," "anticipate,"
"anticipates," "plans," "plan," to be uncertain and forward-looking.
In particular, American Mold Guard makes no representations that the
closing for the securities underlying the over-allotment option will
occur. The forward-looking statements contained herein are also
subject generally to other risks and uncertainties that are described
from time to time in the Company's filings with Securities and
Exchange Commission.