International Barrier Technology Reports Second Consecutive Quarterly Profit

Fire Resistant Building Materials Company Achieves Nine-Month Revenue of $1.6 Million

International Barrier Technology Reports Second Consecutive Quarterly Profit

Fire Resistant Building Materials Company Achieves Nine-Month Revenue of $1.6 Million

Watkins, MN, Vancouver, BC (PRWEB) June 3, 2003 - International Barrier Technology Inc. (Barrier") (IBTGF: OTCBB, TSXV: IBH), a provider of environmentally friendly fire resistant building materials, has released unaudited financial results for its third quarter ending March 31st, 2003.

Sales increased 33.5% to CDN $1,634,135 for the nine-month period ending March 31, 2003, compared to $1,223,667 for the same period last year. Gross profit was up by $39,003 (12.8 percent) to a total of $342,604. The gross profit margin declined slightly to 21.0 percent versus 24.8 percent in the previous year. Barrier reported a net loss of $27,419 or $0.00 per share for the nine-month period, down from a net loss of $223,097 or $0.01 per share in the previous year. Barriers net income was $98,130 for the three months ending March 31, 2003. This is Barriers second consecutive quarter of profitability.

Barrier has achieved impressive sales growth in the year to date," said Dr. Michael Huddy, Barriers President. Particularly exciting is the success of our marketing strategy in our primary market of Florida, where we achieved 82.7% year-over-year growth in sales volume. We are now extending this successful marketing strategy to significant new markets and product applications, and I am confidant Barrier will continue to deliver sales growth."

Click here to view Barriers financial statements:

http://www.sedar.com/csfsprod/data38/filings/00546443/00000001/s%3A%5CIntlBarrier%5C033103bc.pdf

About International Barrier Technology Inc.

International Barrier Technology Inc. develops, manufactures, and markets proprietary fire resistant building materials branded as Blazeguard®. The award-winning Blazeguard structural wood panels use a patented, non-toxic, non-combustible coating with an extraordinary capability: it releases water in the heat of fire. The panels exceed International Building Code requirements in every targeted fire test and application, and are unique in combining properties that increase panel strength and minimize environmental and human impact. Blazeguard customers include Centex, D.R. Horton, K.B. Homes, and Lennar. Lowes Companies is a Blazeguard distributor.

INTERNATIONAL BARRIER TECHNOLOGY INC.

Per: MICHAEL HUDDY"

_______________________

Michael Huddy

President & Director

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS PRESS RELEASE.

For more information please visit:

www.intlbarrier.com or www.investorideas.com

Toll free 1.866.735.3519

Bernie Hertel

intlbarrier@telus.net

or

Dawn Van Zant, ECON Investor Relations, Inc.

dvanzant@investorideas.com

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.