''Guardian Technologies Merger Update''; Guardian and Vairex Announce Progress Towards Closing

    CAREFREE, Ariz.--May 22, 2001--Guardian Technologies International, Inc. , announced today that it has made significant strides in its efforts to complete the acquisition of Vairex Corporation.
    The first round of the private equity placement by Vairex have been received. These proceeds have been used to satisfy commitments to Vairex's senior secured lender, complete the audit of Vairex's financial statements and the balance for working capital. Efforts to raise additional capital in the placement are continuing.
    Encouraged by these accomplishments, Guardian and Vairex have unconditionally agreed to waive certain conditions to closing, including the minimum financing contingencies. Efforts are now underway to complete the proxy statement that will be used to obtain shareholder approval of certain aspects of the acquisition transaction.
    "We are extremely pleased that many of the hurdles to completing the acquisition of Vairex have been completed, and are optimistic that the remaining milestones will soon be reached," stated J. Andrew Moorer, President and CEO of Guardian. "We remain adamant in our commitment to complete the acquisition as soon as possible," he added.

ABOUT VAIREX (For more information, visit Vairex's website at www.vairex.com)

    Vairex was founded in 1987, to develop advanced, proprietary, oil free compressor technology for automotive and industrial applications and has been engaged in the emerging fuel cell industry for over six years. The Company's technical leadership has led to two major DOE development contracts and prototype sales to industry leaders such as Ballard, GM, Energy Partners and others. Most recently Vairex has delivered evaluation units to McDermott Technology and Fiat.

ABOUT GUARDIAN

    Guardian, through its wholly-owned subsidiary Guardian Security & Safety Products, Inc. (GSSP), serves the law enforcement, security and military communities and the global security industry. GSSP's majority-owned subsidiary, ForceOne, LLC, manufactures a variety of high-end ballistic protective equipment including patented personal protection devices commonly referred to as body armor. Guardian, through its wholly-owned subsidiary Guardian Steel, is engaged in structural steel fabrication and provides among its products, structural steel used primarily in military base refurbishments and other projects under Federal contract.

    The statements made in this press release contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations. In addition to the matters described in this press release, risk factors listed from time to time in the Company's SEC reports and filings, including, but not limited to, its report on Form 10-QSB for the quarter ended September 30, 2000 and its report on Form 10-KSB for the year ended December 31, 1999, may affect the results achieved by the Company.