WATKINS, Minn. and VANCOUVER, British Columbia, April 14, 2004 (PRIMEZONE) -- International Barrier Technology Inc. ("Barrier") (OTCBB:IBTGF) (TSX Venture Exchange:IBH), a manufacturer of proprietary fire resistant building materials, achieved dramatic sales volume growth of its Blazeguard(r) fire resistant wood panels in the fiscal third quarter ending March 31st. Record sales volume of 1,139,800 square feet was 157% greater than last year's third quarter sales of 443,700 square feet and 67% greater than the last quarterly record of 681,200 square feet reported in FQ1 2001. Nine-month sales volume of 2,081,300 square feet increased 38% over the same period last year and almost exceeded the annual sales volume record of 2,149,400 square feet reported for fiscal 2001.
"Demand for Blazeguard has never been this significant and broadly based," said Mike Huddy, president. "There is growing usage of Blazeguard by four of the top five U.S. homebuilders, and major builders in the next tier, such as Beazer Homes, are also expanding usage. Nine-month sales in Florida reached one million square feet, a new record for that state, and volume in the mid-Atlantic reached a new high. This growth also reflects the market launch and new sales from Mule-Hide Products. We are on track to report record revenue for the fiscal year."
About International Barrier Technology, Inc.
International Barrier Technology, Inc. develops, manufactures, and markets proprietary fire resistant building materials. Its patented, non-combustible, non-toxic Pyrotite formulation has an extraordinary capability: it releases water when exposed to the heat of fire. Barrier's award-winning Blazeguard(r) wood panels exceed International Building Code requirements in every targeted fire test and application, and uniquely combine properties that increase panel strength and minimize environmental and human impact. Blazeguard customers include Centex (NYSE:CTX), D.R. Horton (NYSE:DHI), KB Home (NYSE:KBH), and Lennar (NYSE:LEN). Lowe's Companies (NYSE:LOW), Stock Building Supply, and Mule-Hide Products Co., Inc. are Blazeguard distributors. Pyrotite has potential applications with engineered wood products, paint, plastics, and expanded polystyrene.
Barrier is part of the DJ Building Materials Index (US).
Per: "MICHAEL HUDDY" -------------------- Michael Huddy President & Director
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For more information please visit: www.intlbarrier.com or www.investorideas.com
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Forward-Looking Information: The statements in this news release contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve certain risks, assumptions and uncertainties, including but not limited to the ability to generate and secure product sales. In each case actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or modified) will not be realized.