FOR IMMEDIATE RELEASE

3rd Quarter and Nine Months (June 30, 1998) Earnings Release

SUN VALLEY, Calif., Aug. 6 /PRNewswire/ -- The Flamemaster Corporation (Nasdaq: FAME - news), reported revenues of $2,866,323 and net income of $428,200 for the nine months ended June 30, 1998 compared to revenues of $2,562,552 and net income of $360,246 for the same period in 1997.

For the quarter revenues were $927,550 with net income of $165,969 compared to revenues of $950,431 and net income of $286,455 in the prior year.

In the year earlier quarter net income expanded dramatically due to increased sales of higher margin products and a lower percentage of government sales.

Per share net for the quarter diluted was $.09 vs. $.16 and for the nine months net per share was $.25 per share diluted vs. $.21 in the prior year.

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.

Flamemaster is a specialty chemicals manufacturer of high performance sealants, adhesives and coatings.

                           Three months ended          Nine Months Ended
                              (Unaudited)                  (Unaudited)
                           6-30-98       6-30-97       6-30-98      6-30-97

    Revenues              $927,550      $950,431   $2,866,323    $2,562,552
    Income before income
     taxes                 175,440       288,519      595,984       448,232
    Income taxes            (9,471)       (2,064)    (167,784)      (87,986)
    Net Income             165,969       286,455      428,200       360,246

    Net income per share,
     basic                    $.10          $.18         $.26          $.21
    Net income per share,
     diluted                  $.09          $.16         $.25          $.21

SOURCE: 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