FOR IMMEDIATE RELEASE

Sun Valley, California, December 19, 2003 – Flamemaster Corporation (NASDAQ "FAME") reported net income of $538,519 on revenues of $5,097,852 for the year ended September 30, 2003. In the previous year earnings were $625,063 on revenues of $5,061,386. Per share results were $.38 basic and $.35 fully diluted in 2003 vs. $.44 basic and $.40 fully diluted in 2002.

For the 4^th quarter revenues were $1,093,465 down modestly from the $1,120,777 in the 4^th quarter of fiscal 2002 due to a reduction in new aircraft construction. Net income also declined in the 4^th quarter to $39,693 from $111,248 in the prior year. Per share results for the quarter ended September 30, 2003 were $.03 basic vs. $.08 basic in the previous year.

In addition to increased raw material costs and moderately higher labor costs, earnings were impacted by recently increased reporting requirements of the SEC and NASDAQ.

Subsequent to year end, Flamemaster announced the spin-off of StarBiz Corporation. The Company’s management service and investment affiliate. Income from capital gains on investments will no longer be a significant component of the Company’s income statement.

Flamemaster Corporation is a specialty chemical manufacturer servicing the aerospace and defense industries with high performance aircraft sealants and coatings.

4^th QUARTER AND FISCAL 2003 YEAR END RESULTS

December 19, 2003

Contact: Joseph Mazin, President & CEO

Phone (818) 982-1650

Fax (818) 765-5603

The release herein may contain or identify a forward-looking statement. These statements are based on a number of assumptions and estimates, which are inherently subject to uncertainty and contingencies, many of which are beyond the control of the Company and reflect future business decisions, which are subject to change.

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SOURCE: Flamemaster Corporation

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For More Information Contact:
Joe Mazin
Flamemaster Corporation
11120 Sherman Way
Sun Valley, California  91352-4949
Tel: 818.982-1650
FAX: 818.765-5603
e-mail: information@flamemaster.com

Send mail to information@flamemaster.com with questions or comments about this web site.
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Last modified: January 12, 2004