Spectre Acquires US Automotive Agency

29 March 2000

Spectre Acquires US Automotive Agency

    NEW YORK--March 29, 2000-- Spectre Industries, Inc., (OTCBB:STND)(OTCBB:STNDE) wishes to announce that, through its wholly owned subsidiary, The Grant Automotive Group, Inc. ("GAG"), it has acquired the majority position in a well established manufacturers' representative agency specializing in the automotive aftermarket.
    This agency is located in the Pacific Northwest and will be an excellent business unit for Spectre/GAG's North American distribution network.
    "The Pacific Northwest is an important market in the automotive aftermarket. This acquisition will give GAG a strong regional presence which will be enhanced through our operational partnership with Grant Brothers Sales, Ltd.", said Ian Grant, CEO of Grant Automotive Group. "We have two other acquisition candidates under review at present. It is our intention to add these businesses to our agency portfolio in this fiscal year."
    In addition, Spectre is nearing completion of its negotiations with a major e-commerce technical provider in the business-to-business sector of the aftermarket. These developments will be announced when negotiations have been completed.
    Spectre Industries through Grant Automotive Group is a North American distribution network in the automotive aftermarket with a focus on e-commerce and industry consolidation.