Spectre Files Amended Form 10-SB

    VANCOUVER, British Columbia--June 27, 2001-- Spectre Industries, Inc. (OTCBB:STND), announced today that the Company has filed its amended Form 10SB with revisions responsive to the comments received by the SEC's examiners as well as in accordance with the Company's developments since the initial filing.
    "As shown by our latest announcements, the Company is increasing our revenues and reducing costs. We are debt-free and have a good working capital position," said Ian Grant, Spectre's President and CEO. "Our principal operating subsidiary continues to generate a profit that assists in offsetting the overall corporate expenses. Our e-commerce efforts to build an internet-based enterprise for the automotive aftermarket are on-going. We have engaged a team of information technology experts that are assisting us to develop that side of our business so that it, along with our traditional manufacturers representation business, will contribute to our corporate growth. In this economic climate, we are investigating good partnering opportunities that will hopefully contribute positive results within the near-term, thereby protecting our positive working capital position."

    This release contains certain forward-looking statements which involve known and unknown risks, uncertainties and other factors not under the Company's control which may cause actual results, performance, achievements of the Company to be materially different from the results, performance of expectations implied by these forward-looking statements. These factors include, but are not limited to, the limited liquidity and the limited operating history of the Company.