Spectre Announces Agreement to Acquire DTI Technology

25 June 1998

Spectre Announces Agreement to Acquire DTI Technology and Creation of International Automotive Group

    LAS VEGAS--June 24, 1998--Spectre Industries, Inc. (NASDAQ BB:STND) today announced that it has completed the first step of its reorganization which began last year.
    The Company signed an agreement to acquire the majority in DTI Technology of San Luis Obispo, Calif., through an investment of $5 million in cash in DTI. The agreement also provides for the issuance of Spectre stock to DTI's senior management upon reaching certain targets and for the conversion of Spectre's investment into common stock of Dega Technology, Inc., DTI's parent company.
    Since its inception in 1990, DTI has been a successful innovator and creator of knowledge base information systems under the trade name Dega. Its principal focus has been electronic cataloguing and maintenance management system technology for the automotive industry. During 1990-1992, DTI created electronic catalogs for Honda, Ford and General Motors. DTI's products have enjoyed world-wide acceptance and received interest from a number of major companies in the automotive and other industries.
    Through its investment in DTI, the Company intends to provide DTI with the necessary capital support to complete its product and marketing programs.
    "With this investment, Spectre will have completed the first step in its new business plan to acquire well positioned companies in the automotive and industrial markets. Spectre's focus is to acquire a portfolio of companies that have leading edge technology and/or a dominant market position and thus can provide efficiencies and market access to each other," said Ian Grant, Spectre's Chief Executive Officer.
    "I am very excited about the prospect of working together with Spectre to bring DTI to the next level of its corporate development. I believe that the strategy developed by Spectre provides significant opportunities for us," said Jean-Pierre Makeyev, DTI's Chief Executive Officer.
    The Company also announced that through its new division, International Automotive Group ("IAG"), it is in negotiation with a major North American sales organization in the automotive after-market about the possible acquisition of its wholesale division. This acquisition is intended to complement the Company's investment in DTI. Spectre is confident that IAG, combined with companies with leading edge technology such as DTI, will create a formidable force in the automotive after-market.
    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 the actual results and performance of the Company to be materially different from the results, performance or expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the Company's periodic filings with the Securities and Exchange Commission.