FOR IMMEDIATE RELEASE

Flamemaster Corporation 2nd Quarter Earnings Rise 57.8% on a 16.3% Gain in Revenue

SUN VALLEY, Calif., May 8 /PRNewswire/ -- The Flamemaster Corporation (Nasdaq: FAME - news), reported revenues for the second quarter ended March 31, 1998 increased 16.3% to $1,018,351 compared to revenues of $875,143 in 1997, and net income was $172,856 compared to $109,535 in 1997, a gain of 57.8%.

For the six month period ended March 31, 1998 revenues were $1,938,773 a gain of 20.2% and net earnings were $262,231 a jump of more than 92%. In the six month period ended March 31, 1997, revenues were $1,612,121 and net earnings were $136,196.

Revenues expanded due to robust growth of new orders, the addition of new customers and introduction of new products.

Per share net for quarter was $.11 vs $.07 in the year earlier quarter and for the six months net per share was $.16 vs $.09 in the prior year. Per share figures for 1997 were adjusted to reflect the 20% stock dividend paid in April 1998.

Flamemaster is a specialty chemicals manufacturer of high performance sealants, adhesives and coatings. The Company owns an approximate 19% interest in PerfectData Corporation (Nasdaq: PERF - news).

                            Three months ended           Six months ended
                                (Unaudited)                 (Unaudited)
                        3-31-98      3-31-97        3-31-98      3-31-97
    Revenues         $1,018,351     $875,143     $1,938,773   $1,612,121
    Income before
     income taxes       277,351      180,403        420,544      226,246
    Income taxes        104,495       70,868        158,313       90,050
    Net income          172,856      109,535        262,231      136,196

    Net Income per share,
     basic                 $.11         $.07           $.16         $.09

    1997 per share adjusted for 20% stock dividend paid in April 1998.

SOURCE: The Flamemaster Corporation

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: flamemaster@cyberhotline.com

Copyright © 1998

Last modified: September 12, 2001