North American Liability Group (NAML) has closed the contract and share exchange agreement to acquire 75% of all the issued outstanding shares of Grupo Industrial NKS, SA de CV, Mexico. The transactions were completed on March 11, 2005.

With the transfer of NKS ownership, NKS shareholders assigned and transferred the NKS member's right, title and interest in NKS owned by such member in exchange for controlling interest in NAML common restricted stock.

An audit of the assets of NKS has commenced, with results expected to be filed on Form 8-k within the required time period. NKS has represented to NAML that the steel foundry assets in Lazaro Cardenas, Mexico, have a value in excess of US$200,000,000.

James W. Wolff will serve as President, CEO, and Director of the new organization. Mr. Wolff has worked for Chemical Bank and been a Senior Vice President of several banks, including First Bank & Trust of Palm Beach, Fla., Gulfstream Bank of Boca Raton, Fla., and President of Provident International Bank Limited.

Garth Jensen will serve as Chief Financial Officer and Director. Mr. Jensen has been CFO of both private and public companies over the past seven years, including IBI Corp. (where he is also a Director of the corporation) and National Electronic Technologies Inc., a publicly traded internet communications company. Prior to establishing his consulting practice, Mr. Jensen was Vice President and Treasurer at Imperial Life and Treasurer at Ralston Purina Canada.

Bernardo Vergara will serve as a Director for the new organization. Mr. Vergara was formerly the Mexican Consul for the Province of Alberta in Canada. He has extensive experience as a director of public companies, as well as comprehensive negotiating skills dealing with governments and government agencies.

Arturo Sojo will also serve as a Director. Mr. Sojo is a Computer Systems Engineer with many years experience as Project and Systems Manager for various corporations including IBM and Apple Computers. Mr. Sojo has extensive experience in finance and real estate through various partnerships he is involved in, including Auge Grupo Promoter, Corporacion Hipotecaria and Fondo De Desarrollo Patrimonial. In addition, he is a partner in Sadmex, a pipe manufacturer.