NorMexSteel, Inc. Announces Reverse Stock Split and Signing of Letter of Intent

NorMexSteel, Inc. (OTCBB:NXSI) announced that it held a
Special Meeting of the Board of Directors on September 1, 2005. The
Board of Directors voted to effectuate a reverse stock split of the
Company's common stock of 500 to 1. The net effect of the reverse
stock split will reduce the Company's outstanding shares of common
stock post split to 561,900 shares. The stock split is effective as of
September 1, 2005. Shareholders of record will be notified by the
Company's transfer agent to exchange their old shares of common stock
for new shares of common stock post reverse.
   The Company is negotiating to acquire an interest in ten (10)
stand alone sports and recreation facilities valued at $300 million.
The Seller of the sports and recreation facilities is Jamieson
Enterprises, Inc. Under the terms of the proposed Agreement, Jamieson
Enterprises, Inc. will provide financing and management for operations
of these world class facilities, which will be built in various cities
throughout the United States and Canada. The Letter of Intent is
subject to a 90 day due diligence period. The Company will announce
further details of the proposed acquisition at a later date after the
completion of the due diligence.

   This Press Release contains certain forward-looking statements
that are based on management's expectations, estimates, projections
and assumptions. Words such as "expects," "anticipates," "plans,"
"believes," "scheduled," "estimates," and variations of these words
and similar expressions are intended to identify forward-looking
statements, which include but are not limited to projections of
revenues, earnings, segment performance, cash flows, contract awards,
and stability. Forward-looking statements are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act
of 1995, as amended. These statements are not guarantees of future
performance and involve certain risks and uncertainties, which are
difficult to predict. Therefore, actual future results and trends may
differ materially from what is forecast in forward-looking statements
due to a variety of factors beyond the control of management. All
forward-looking statements speak only as of the date of this release,
or, in the case of any documents incorporated by reference, the date
of that document. All subsequent written and oral forward-looking
statements attributable to the company or any person acting on the
company's behalf are qualified by the cautionary statements in this
section. The company does not undertake any obligation to update or
publicly release any revisions to forward-looking statements to
reflect events, circumstances or changes in expectations after the
date of this report.