EXHIBIT 99.1

                          Press Release


NEWS RELEASE                   For Further Information Contact:

                           Richard N. Anderson, President and CEO
                                          Temtex Industries, Inc.
                                                   (909) 657-7311

                      FOR IMMEDIATE RELEASE

                     Temtex Industries, Inc.
          Files for Voluntary Chapter 11 Reorganization

Perris, California - May 2, 2003 - TEMTEX INDUSTRIES, INC.
(OTC:BB:"TMTX"), which manufactures woodburning and gas
fireplaces and related products, today announced that, in order
to address its financial challenges, the Company and Temco
Fireplace Products, Inc., one of its wholly owned operating
subsidiaries, have filed voluntary petitions for reorganization
under Chapter 11 of the U.S. Bankruptcy Code in the United States
Bankruptcy Court for the Central District of California.

The Company anticipates that its current cash reserves and cash
flow from its operations will be sufficient to fund its
operations during the reorganization process. During this
process, the Company expects to keep open all manufacturing and
distribution operations to serve customers and to continue to
provide the same high-quality goods and services as it has in the
past. Temtex Industries, Inc. and Temco Fireplace Products Inc.
intend to continue to pay employee wages and salaries, to offer the
same employee benefits and to accrue vacation time without
interruption.

In conjunction with today's filing, the Company intends to file
"first day motions" to support its employees, suppliers and vendors,
together with its customers and other stakeholders, during this
process.  The court filings include requests to use cash
collateral, maintain continued use of its existing cash
management system and to honor and maintain its warranty and co-
operative allowance, discount and rebate programs.  During the
restructuring process, vendors, suppliers and other business
partners will be paid under normal terms for goods and services
provided during the reorganization.

<PAGE>

"The chapter 11 filing is an important step in order to address
the Company's immediate liquidity needs, restructure its debt
obligations and improve its prospects for future growth and
profitability," said Richard N. Anderson, President and Chief
Executive Officer.  "We are grateful for the loyalty and
commitment of our employees and the valuable relationships with
our customers and suppliers."

The Company's manufacturing subsidiary, Temcomex, S.A. de C.V.
and that subsidiary's Mexicali facility and operations are not
part of the filing.  In its filing documents, Temtex Industries,
Inc and Temco Fireplace Products, Inc. listed total assets with a
book value of $8.1 million and total liabilities of $10.4 million
as of February 28, 2003.

About the Company
-----------------

Temtex Industries, Inc., is a leading manufacturer and
distributor of zero-clearance metal fireplace products and gas
fireplace equipment, including vent-free gas logs.  Its products
are marketed to residential homeowners and home remodeling
contractors.  Temtex Industries is headquartered in Perris,
California, and its manufacturing facilities are located in
Manchester, Tennessee and Mexicali, Mexico.

The common stock of Temtex Industries, Inc. is traded on the OTC
Bulletin Board under the symbol "TMTX". Investor relations
information is available on the Temtex Industries web site at
http://www.temcofireplaces.com.

Forward Looking Statements
--------------------------

This report contains statements that are forward-looking within
the meaning of applicable federal securities laws and are based
upon the Company's current expectations and assumptions. You
should not place undue reliance on those statements because they
speak only as of the date of this release. Forward-looking
statements include information concerning the Company's possible
or assumed future operations, including, without limitation,
statements about the Company's ability to fund operations during
the reorganization process.  These statements often include words
such as "expect," "plan," "believe," "anticipate," "intend,"
"estimate" or similar expressions.  As you read and consider this
release, you should understand that these statements are not
guarantees of performance or results. They involve risks,
uncertainties and assumptions.  Although the Company believes
that these forward-looking statements are based on reasonable
assumptions, you should be aware that many factors could affect
actual results, which could differ materially from the forward-
looking statements. These factors include, but are not limited
to, uncertainty regarding the Company's ability to continue as a
going concern; uncertainty regarding court approval of the
Company's first day motions and other motions made by it from
time to time; uncertainty regarding the Company's ability to
develop and consummate one or more plans of reorganization; risks
associated with third parties seeking and obtaining court
approval to terminate or shorten the exclusivity period for the
Company to propose and confirm one or more plans of
reorganization, for the appointment of a Chapter 11 trustee or to
convert the bankruptcy case to a chapter 7 case; the effect on
the Company's net sales and cash flow of its decision to file the
bankruptcy case; the Company's problems of operating with a
history of losses and an accumulated deficit, potential liquidity
problems since historically the Company has not been able to
generate positive cash flow, the Company's requirement for
additional capital and the likelihood that it may not be secured;
the ability of the Company to maintain trade credit and contracts
that are important to its operations; the financial strength and
performance of the fireplace industry; changes in consumer
spending patterns; risks associated with collections on the
Company's receivables; the success of merchandising, advertising,
marketing and promotional campaigns; various other factors beyond
the Company's control; and other risks detailed in the Company's
periodic report filings with the Securities and Exchange
Commission. All future written and oral forward-looking
statements made by the Company or persons acting on the Company's
behalf are expressly qualified in their entirety by the
cautionary statements contained or referred to above.  Except for
the Company's ongoing obligations to disclose material
information as required by the federal securities laws, we do not
have any obligation or intention to release publicly any
revisions to any forward-looking statements to reflect events or
circumstances in the future or to reflect the occurrence of
unanticipated events.  For a more detailed discussion of risk
factors, see the Company's most recent documents filed with the
Securities and Exchange Commission.