Spectre Industries Becomes Fully Reporting Company; Company Clears SEC Comments on Form 10-SB

    VANCOUVER, British Columbia--Jan. 18, 2002--Spectre Industries, Inc., (Pink Sheets:STND), is pleased to report that on January 17, 2002, it cleared comments for its Form 10-SB Registration Statement with the U.S. Securities and Exchange Commission under the United States Securities Exchange Act of 1934.
    As a result, Spectre has met all of the requirements necessary to attain fully reporting status. The updated registration now ensures that Spectre meets the National Association of Securities Dealers' (NASD) policies, which require that companies are current in their filings with the SEC as a precondition of eligibility to maintain a quotation on the NASD OTC Bulletin Board. Spectre is now applying for quotation on the OTC:BB.
    "We believe that we have taken a very important step as we continue the growth of Spectre Industries, Inc. The industrious work of our staff, legal counsel, and outside accountants was instrumental in completing the process of becoming fully reporting, for which they should all be commended," stated Ian Grant, Spectre's CEO. "At this time, I would also like to thank our faithful shareholders, who have stayed the course and remained confident. Spectre's skilled management team is now in position to lead the Company to fulfill its potential as our loyal shareholders both expect and deserve. Now that we have completed this monumental task, we truly believe that we are in a position to take our company to the next level," concluded Grant.
    The Company expects that its shares will be quoted for trading on the OTC:BB in the next few days. Shortly after the filing of its Annual Report on Form 10-K, the Company will review its plans to prepare and file a NASDAQ application. If filed, there can be no assurance that the Company's NASDAQ application will be approved.

    This news release includes statements that may constitute forward-looking statements pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Although Spectre believes the expectations reflected in such forward-looking statements are based on reasonable assumptions; it can give no assurance that its expectations will be met. Factors that could cause actual results to differ materially from Spectre's expectations include the operational performance of Spectre, the Company's success in entering into strategic alliances, Spectre's operational and financial performance, industry conditions, demand for its products as well as other risks.