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Spectre Initiates Process to Become a Reporting Company

26 May 2000

Spectre Initiates Process to Become a Reporting Company, Grant Automotive Group Introduces Autovia On-Line B-2-B Parts Procurements System to the Canadian Market

    VANCOUVER, British Columbia--May 25, 2000-- Spectre Industries, Inc. (OTCBB:STND), announced today that the Company has filed a Registration Statement on Form 10-SB with the United States Securities and Exchange Commission ("SEC").
    This filing, which is subject to an SEC review process, is necessary for the Company to become a fully reporting company. The Company will use its best efforts to come into full compliance with SEC requirements as quickly as possible.
    "Upon successful clearing of comments with the SEC, who will review the Company's Form 10-SB, the Company will become a fully reporting company," said Ian Grant, President and CEO.
    In April, the Company's wholly owned subsidiary, Grant Automotive Group, Inc, ("GAG") was a major exhibitor at the Canadian International Automotive Show that was held in Montreal. GAG, together with key personnel from Autovia, Inc., introduced Autovia's internet-based parts ordering systems to the business-to-business segment of the Canadian automotive aftermarket. Industry interest appears to be very strong from all levels of the aftermarket, including manufacturers, wholesalers and installers. GAG is Autovia's exclusive sales representative for this product in Canada. GAG will report on further developments as they occur.

    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.