News Releases

September 06, 2003


Dutton Associates Announces Investment Opinion: International Barrier Technology Speculative Buy Rating In Initiating Coverage By Dutton Associates

EL DORADO HILLS, Calif., Sept. 6, 2005 - Dutton Associates initiates coverage of International Barrier Technology (OTCBB: IBTGF; TSX VENTURE: IBH) with a Speculative Buy rating and a 12-month $1.44 price target. The 12-page report by Dutton senior analyst Gerald LaKarnafeaux, CFA, is available at www.jmdutton.com, and at First Call, Bloomberg, Reuters, Zacks, Knobias, and other leading financial portals.

International Barrier Technology (Barrier) produces and markets Pyrotite, a proprietary chemical formulation that has fire-retardant properties. It was determined in the late 1980s that fire retardant treated (FRT) plywood, the multifamily roof-decking market's leading product, failed over time when chemicals engineered to consume the wood before burning were activated by high temperatures caused by exposure to sunlight. This caused an industry crisis, but it was an opportunity for Barrier's Blazeguard® roof decking --first as a replacement for failed FRT installations and then in new construction projects, where Blazeguard® is becoming the preferred product over FRT plywood. Barrier will soon have a substantial increase in efficient production capacity when expansion of its Watkins, Minn. plant is completed, with rated capacity increasing from 8 million sq. ft. to 50 million sq. ft. Annual sales of $40.7 million are a reasonable expectation when the facility reaches capacity in fiscal 2008. The Company has established relationships with major distributors and building contractors. It could be argued that the Company has been in a protracted development stage for the past 10 years. However, with the new efficient production capacity and a distribution network in place, we believe Barrier is positioned to record substantial and profitable volume gains over the next several years. The Company's experienced management team members have successful track records.

About Dutton Associates
Dutton Associates is one of the largest independent investment research firms in the U.S. Its 27 senior analysts are primarily CFAs and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 110 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors. The cost of enrollment in the Dutton Associates one-year continuing research program is US $35,000 prepaid from the Company for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $35,000 from the Company for 4 Research Reports with coverage commencing on 09/06/2005. Dutton Associates does not accept payment of any of its fees in company stock. Its principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures, and analyst background at www.jmdutton.com before investing.

Contact:
Dutton Associates, LLC.
John M. Dutton, (916) 941 8119


Source: International Barrier Technology

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