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American Environmental Corporation Concludes $6,000,000 Contract with Jockey Club Uruquaiana

16 August 2000

LOS ANGELES, California – (Press Release) --Aug. 16, 2000 -- American Environmental Corporation (OTC: AEVC) announced today that the Company has completed a contract with the Jockey Club de Uruguaiana-RS, in Comarca de Uruguaiana-Brasil, for the exclusive operation of simulcast transmission of international sports/racing events. The Jockey Club Uruguaiana brings current yearly gaming revenues of $6,000,000 to AEVC based on local racing events only.

Jay Goldberg, CEO, commented as follows: ``This is our second contract that we have completed since the July 14, 2000 merger with Carnegie Cooke & Company, Inc., and the fact that this contract produces $500,000 per month is a great step towards our goal of opening gaming agencies throughout Brazil. We now have two contracts totaling $7,000,000 per year and we have 13 other contracts which should be completed shortly. I feel that this is a substantial start towards our year 2000 agency goals.''

AEVC plans to operate gaming interests throughout Brazil and other South American countries. Additionally, AEVC has exclusive agreements for the satellite and simulcast transmission of racing events throughout Brazil and South America.

Goldberg further commented: ``Currently, racing event gaming is limited to local events and the gaming facilities are only open during local events in Brazil. The simulcast transmission allows racing events to be broadcast all year into our agency facilities and also dramatically increases the number of events available on a daily basis. For example, our contract with Uruguaiana will automatically triple the gaming events broadcast at this Jockey Club.''

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