JNU International Secures New Power Tools Business in Australia

    BOCA RATON, Fla.--Oct. 1, 2002--MegaPro Tools Inc. (OTCBB:MPOT) announced that its Australian company, JNU International, has secured the power tool business for SuperCheap Auto who are Australia's fastest growing auto part, accessories and handyman products retailer. SuperCheap, who had 8 stores in 1993 and 50 stores by 1999, celebrated the opening of their 100th outlet September of this year. The stores are located in Queensland, New South Wales, Victoria, Northern Territory and Tasmania and are generally located in or near major shopping centers to gain maximum exposure. They range 10,000 items per store and employ 1600 people. Their goal is 200 outlets by 2005.
    The products accepted are a range of saws, angle grinders, drills, sanders, jigsaws and router. The opening order was AUD$1.2m with an annual expectation of AUD$3.5m. JNU secured the business after "courting" SuperCheap for some time where a relationship was formed that gave SuperCheap confidence in changing from its incumbent supplier.
    JNU International is a leading tool importer and distributor specializing in the categories of hand and masonry tools, air tools, compressors, and power tools. Covering Australia, New Zealand and some Pacific countries. JNU International supplies to the hardware, trade and industrial markets.
    MegaPro Tools Inc. owns Spear & Jackson, based in Sheffield, England is one of the largest and oldest tool manufacturers in the UK. Spear & Jackson's roots go back to the 1740's as one of the premium tool manufacturers.
    Spear & Jackson manufactures and distributes tools, garden tools, metrology equipment, woodworking tools and magnetic equipment. They sell their products under Spear & Jackson, Neil Tools, Bowers, Robert Sorby, Moore and Wright, Eclipse (Blades), WHS, Tyzack, and Eclipse Magnetics Brands. Spear & Jackson has divisions throughout England, France and Australia. Spear & Jackson distributes its products throughout the world.

    Disclosure concerning Forward-Looking Statements:

    Any forward-looking statements made in this release represent management's best judgement as to what may occur in the future. Various economic and competitive factors could cause actual results to differ materially from those discussed in such forward-looking statements, including some factors which will be outside of the control of the company, such as successful completion and consolidation of the acquisitions, such as consumer spending patterns, availability of consumer and commercial credit, interest rates, currency exchange rates, inflation rates, adverse weather, energy costs, freight costs, the level of residential and commercial construction and the costs of raw materials, along with other specific factors with respect to the company's businesses set forth in the company's responses and other documents filed with the Securities and Exchange Commission.