Russell Industries Payday Claims Update

HOUSTON--(BUSINESS WIRE)--Russell Industries, Inc. (Pink Sheets:RUSL), plans to engage a Geologist by year end 2008 to evaluate and review historical data and to deliver a reserve report for its 55 Unpatented Uranium and Vanadium Mining Claims, known as Payday Mining Claims, located in the East Canyon part of the Morrison Formation of San Juan County, Utah. The report is expected to be delivered during mid 2009. The decision to order this report is based on the current mining activity of a senior mining company, approximately one mile away from this claim site and the Company’s need for more substantive data regarding these 55 claims. Russell Industries recently renewed all 255 of its claims with the Bureau of Land Management’s Utah’s office and the office of the San Juan County Recorder. Pending the results of the reserve report, the Company will evaluate its options regarding leasing, joint venture, sale or mining these claims.

Russell Industries, a Nevada Corporation, was incorporated in 1997. The Company is a holding company that will possibly acquire assets in the energy, mining, healthcare and financial industries. The Company owns a majority ownership interest in 255 Unpatented Uranium Mining Claims in San Juan County, Utah as of October 2, 2008.

Safe Harbor

This press 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 (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. Investors should be aware that the Company raises equity capital by selling its stock as per SEC Regulation D, Rule 504 Exemption to Accredited Investors. One result to date of this method of financing is a large amount of issued and outstanding free trading common stock in the market.