Exh. 31.1

        CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER AND
          CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 302
                OF THE SARBANES-OXLEY ACT OF 2002

I, Richard G. Gagliardi, the Chief Executive Officer,  President and Chief
Financial Officer of American Asset Management  Corporation certify that:

I have reviewed this Annual Report on Form 10-KSB of American Asset
Management Corporation;

     2.  Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to
make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by
this report;

     3.  Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects
the financial condition, results of operations and cash flows of the small
business issuer as of, and for, the periods presented in this report;

     4.  The small business issuers other certifying officer(s) and I are
responsible for establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for
American Asset Management Corporation and have:

       a)  Designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision, to
ensure that material information relating to the small business issuer,
including its consolidated subsidiaries, is made known to me by others within
those entities, particularly during the period in which this report is being
prepared;

       b)  Evaluated the effectiveness of the small business issuers
disclosure controls and procedures and presented in this report our
conclusions about the effectiveness of the disclosure controls and
procedures, as of the end of the period covered by this report based on such
evaluation; and

       c)  Disclosed in this report any change in the small business issuers
internal control over financial reporting that occurred during the small
business issuers most recent fiscal quarter (the small business issuers
fourth fiscal quarter in the case of an annual report) that has materially
affected, or is reasonably likely to materially affect, the small business
issuers internal control over financial reporting; and;

     5.  The small business issuers other certifying officer(s) and I have
disclosed, based on our most recent evaluation of internal control over
financial reporting, to the small business issuers auditors and the audit
committee of the small business issuers board of directors (or persons
performing the equivalent functions):

       a)  All significant deficiencies and material weaknesses in the design
or operation of internal control over financial reporting which are
reasonably likely to adversely affect the small business issuers ability to
record, process, summarize and report financial information; and

       b)  Any fraud, whether or not material, that involves management or
other employees who have a significant role in the small business issuers
internal control over financial reporting.


Date: April 14, 2004

                                 _/s/ Richard G. Gagliardi_______________
                                 Richard G. Gagliardi, Chief Executive Officer,
                                 President and Chief Financial Officer
                                (Principal Executive and Financial Officer)