Grant Automotive Group and Crewson Industries Launch Fleet Specialists for the Canadian Aftermarket

TORONTO--July 23, 2002--Grant Automotive Group, Inc., a wholly owned subsidiary of Spectre Industries, Inc. (OTCBB:STND - News), announced that it has entered into a joint venture with Crewson Industries of Buffalo, New York.

Crewson manufactures and markets heavy duty brake products for the OEM and aftermarket truck industry. Since 1984, Crewson has developed a broad product range and extensive manufacturing capabilities to provide support to a worldwide customer base. As an ISO - 9001 certified supplier, Crewson strives continuously to offer the highest-quality components at competitive costs.

The basis of the joint venture is the co-investment in a Grant Automotive Group team of dedicated truck Fleet Specialists. These specialists will educate and train the fleet managers in order to support Crewson's goal of being approved for manufacturing specification in the truck and trailer brake category. In addition, the Fleet Specialists will support the sale of Grant Automotive Group's other manufacturers' products to the heavy duty trade.

"We are very pleased to work with Crewson on this dedicated program that will build our sales volume at the fleet and heavy duty distributor level," said Adam Crisp, President, Heavy Duty Division, Grant Automotive Group, Inc. "These fleet specialists will be assisted by Grant Automotive Group's national sales force, which will significantly increase our selling resources across Canada. To be associated with Crewson and their fine product line is a great opportunity."

"We are very excited at this opportunity to partner with Grant Automotive Group. This program brings a high level of marketing focus to the very important fleet market. Our product line is technically proven and we have a long history in manufacturing excellence," said Brad Hilborn, Crewson's Canadian Sales Manager.

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainty of financial estimates and projections, stock market conditions, unforeseen technical difficulties and the Company's ability to operate the services described. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements.

Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the Company's annual report on Form 10-KSB for the 2001 fiscal year, the Company's quarterly reports on Form 10-QSB and other periodic reports filed from time to time with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934.