American Fire Retardant Corp. Announces Financial Commitment on Best Efforts.

Business Editors

SAN DIEGO--(BUSINESS WIRE)--Feb. 3, 2003

American Fire Retardant Corp. (OTCBB: AMFR),(www.americanfireretardant.com) American Fire Retardant Corp (OTCBB:AMFR) has entered into an agreement with CP Capital Securities Inc. (www.CPCapital.com) which has a correspondent relationship with Fiserv Securities Inc., a unit of Fiserv (NYSE:FISV), to sell, on a best efforts basis, its 2002 Series B, 6% Convertible Preferred securities via a private placement.

The preferred shares are convertible not earlier than one year from the dated date of the offering. The company intends to use the net proceeds from the offering for working capital and to begin an aggressive marketing campaign for its consumer-oriented fire retardant product, 3 in 1 Hero.

About American Fire Retardant Corp.

American Fire Retardant Corp. is in the business of developing, manufacturing and marketing a line of interior and exterior fire retardant chemicals. The company provides fire resistive finishing services through its "Textile Processing Center" for commercial users.

American Fire Retardant Corp. also designs new technology for future fire resistive applications that are being mandated by local, state and governmental agencies. Additionally, the company is active in the construction industry as sub-contractors for fire stop and fire film installations.

Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this new 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.