American Fire Retardant Announces Letter of Intent to Acquire Majestic Glovebox LTD.

Business Editors

SAN DIEGO--(BUSINESS WIRE)--April 24, 2003

American Fire Retardant Corp. (OTCBB:AMFR), and its newly formed subsidiary, announced the signing of a Letter of Intent to acquire Majestic Glovebox LTD, a Nevada corporation (www.m-glovebox.com).

It is the intent of the parties to negotiate a mutually satisfactory merger transaction in the form of a forward triangular merger, reverse triangular merger or other form of reverse merger. It is anticipated that the definitive agreement will be executed on or before May 15, 2003 between all parties.

Majestic Glovebox LTD is the inventor of the Glove Box(TM) (Automatic Glove Dispenser), a device for use in the high technology, medical facilities, doctors and dentist offices. It allows the technician, practitioner or healthcare worker to don the various size and styles of currently available gloves (including powder-free) without touching the outside of the glove, thereby preventing possible contamination of the gloves' exterior surface. The Automatic Glove Dispenser is basically an interactive (voice-activated, hands-free) glove applicator whereby the user inserts his or her hands into a set of opened gloves contained within a sealed cabinet until after the donning procedure is completed. It utilizes a vacuum system to expand the gloves prior to donning, allowing for the use of powder-free gloves.

American Fire Retardant Corp. is in the business of developing, manufacturing and marketing a line of interior and exterior fire retardant chemicals and other safety products. The company, through its new subsidiary, is now exploring other possible safety products to add to its current line.

Stephen F. Owens, President of AFRC, said, "We are very excited about adding this safety product to our current inventory of safety products. We look forward to expanding these products even more in the future."

Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this news release are forward-looking statements that involve risks and uncertainties and are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results.