SOURCE: Pearl Asian Mining Industries, Inc.

February 13, 2006 09:00 ET

Pearl Asian Mining Industries, Inc. Announced Today That for Every Common Share of Pearl Asian Owned by Its Shareholders on the Record Date of March 17, 2006, One Thousand (1,000) Preferred

Shares Will Be Paid on March 31, 2006

PASIG CITY, METRO MANILA, PHILIPPINES -- (MARKET WIRE) -- February 13, 2006 -- Pearl Asian Mining Industries, Inc. (OTC: PAIM), commonly known as "PEARL ASIAN," announced today that for every Common Share owned by its Shareholders on the Record Date of March 17, 2006, One Thousand (1,000) Preferred Shares of Pearl Asian Mining Industries, Inc., will be paid on March 31, 2006.

Anyone that bought or sold shares under the symbol PAIM has bought or sold forward split shares. It has come to the Company's attention that some brokerage firms sold and are continuing to sell the forward split common shares, but others have failed to credit PAIM shares to their clients accounts. The Company has no control over the speed at which the brokerage firms replace 1000 PAIM shares for the 1 shares of PRLGF previously owned; as well as there was confusion, that the Company has become aware of due to the NASDAQ releasing the new forward split symbol January 26, 2006, before the payment date set by the Company of February 14, 2006.

The Company cannot do another Forward Split on February 14, 2006 as NASDAQ had made this already effective on January 26, 2006. As a result the Company called for a Special Board of the Directors Meeting held on Feb. 11, 2006 which unanimously passed a resolution authorizing a 1,000 preferred shares for 1 common share dividend.

The PRLGF Common Shares are still convertible to PAIM Common Shares 1=1000 upon surrender to the Company's transfer agent, American Heritage Stock Transfer, in Markham, Ontario, Canada. If you own your shares through a securities firm, there should be no action necessary on your part, as this is processed between the DTCC, your brokerage firm's clearing house, and the transfer agent.

Forward-Looking Statements:

This news release may contain forward-looking statements concerning the Company's business and future prospects and other similar statements that do not concern matters of historical fact. This Forward-Looking Statement is based on the Company's current expectations. There are numerous factors that could cause results to differ and the Company's current expectations are subject to all of the uncertainties and risks customarily associated with developing business ventures. The Company's actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements contained in this release. The Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information.

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