American Business Corporation and Y2 Ultra-Filter, Inc. Announce Joint Venture

Business Wire, July 19, 2004

NEW YORK -- American Business Corporation, formerly Logistics Management Resources, Inc. (OTCBB: AMBC), today announced the material terms of a joint venture recently executed with Y2 Ultra-Filter, Inc., a Wyoming corporation ("Y2"). Y2 has granted AMBC the exclusive license for the marketing and sales of its patented filtration technology for use in gaming facilities worldwide in exchange for 27,000,000 restricted shares of AMBC's common stock and, subject to certain performance milestones, a five year option to purchase another 39,000,000 restricted shares (19,000,000 at $.10 and 20,000,000 at 100% of fair market value when earned). A.I.R. Filters, LLC, a Delaware limited liability company has been created to execute the party's marketing and sales efforts in which Y2 as chief operating member and AMBC as chief executive member will each have a 50% interest.

Y2, formed in 1993, has developed and been granted patents in the U.S., Europe, and other leading industrialized countries for a unique process for purifying air thereby allowing standard air handling systems to purify the air more efficiently thereby decreasing the need for fresh air exchange. Casinos, because of their high concentration of second-hand cigarette smoke, represent one of the largest markets for Y2's technology estimated to be $250,000,000 per year in the U.S. and $500,000,000 worldwide.

Anthony R. Russo, AMBC's President and Chief Executive commented how "pleased he was to have a group as capable as Y2 as AMBC's first major business development partner". Russo, who came on board June 1, 2004, has sponsored a "business development company" model for AMBC's redirection. "AMBC's strengths are in the initiation and steering of new business projects" states Russo, "which makes our management experience a perfect fit for the creative and technical strengths of Y2's management and principals."

Mr. Gentry, President and Chief Executive of Y2 summarized his choice of casinos as the opening market stating "they represent the single largest opportunity to demonstrate the economic and health value of our technology. Once installed, these filters should create a massive impact to the casinos both in power savings and human environment achieved within the casinos. Once we've achieved acceptance within this environment, the crossover to other marketing applications would be natural and easy." Russo and Gentry agreed that the joint venture was an ideal strategy to promote the mission of their respective organizations.

The news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in future operating results due to a number of economic, competitive and other factors, including among other things, the size or timing of customer contracts, new or increased competition, changes in the market demand and seasonality of purchases of the Company's product and services. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information with respect to these and other factors that could materially affect the company and its operations are included in certain forms the company files with the U.S. Securities and Exchange Commission.