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ApNano Materials Inc., a provider of nanotechnology-based products, today announced that it has been named by InnovationWORLD as one of the 21 companies that are poised for growth in the 21st century.

ApNano Materials Named by InnovationWORLD Among Top 21 Companies Poised for Growth

New York, NY, October 20, 2004

ApNano Materials Inc., a provider of nanotechnology-based products, today announced that it has been named by InnovationWORLD as one of the 21 companies that are poised for growth in the 21st century.

This prestigious award recognizes the 21 top high-tech companies, out of hundreds profiled by InnovationWORLD.

InnovationWORLD (www.innovationworld.com) is a leading source of business intelligence on growth-stage companies. Located in San Francisco, Calif., conducts research on expansion-stage companies for its subscription-based TechALERT service, which offers readers information on companies in information technology, semiconductors and semiconductor equipment, biotechnology, nanotechnology, medical devices, and other technology-intensive industries.

"ApNano Materials combines exceptionally promising products with solid financial and operational qualities,” said Mitch Ratcliffe, editorial director at InnovationWORLD. "InnovationWORLD believes that engineered lubricants will be one of the first break-out industries built on nanotechnology. ApNano Materials is going to do big things and is prepared for growth and global success."

TechALERT’s reporters research and talk with thousands of companies each year to identify and report on growing firms for its subscribers. Out of the 240 companies they wrote about during the past year, the InnovationWORLD 21 represent the most promising companies that investors, foreign locations, professional services firms and other organizations seeking to support expansion-stage companies should be talking to and working with.

“It’s a great honor to be recognized by InnovationWORLD as one of the 21 most promising companies,” said Dr. Menachem Genut, CEO and Co-Founder of ApNano Materials. “Nanotechnology is one of the most advanced and revolutionary areas of scientific research and we are proud to be pioneers in this field. We are proud to see that our nanotech company is in this prestigious list, which is a nice recognition to our achievements.

“ApNano Materials plans global expansion and it is in an advanced process of raising $4 million investment in the company. We already have firm commitments for a part of the investment, ” said Aharon Feuerstein, ApNano Materials’ Chairman, CFO and Co-Founder.

ApNano Materials commercializes a revolutionary scientific discovery: nano-spheres and nanotubes of inorganic compounds that were discovered at the Weizmann Institute of Science, Israel. Dr. Menachem Genut, CEO and Co-Founder of ApNano Materials, was a co- discoverer of these novel inorganic nanostructures as a member of the Institute’s Nanomaterials Synthesis Group headed by Professor Reshef Tenne.

ApNano Materials’ first product is NanoLub- the world's first commercial nanotechnology-based solid lubricant. NanoLub particles have a unique structure of nested spheres that lubricate by rolling like miniature ball bearings.

“We have launched our first product – NanoLub ® which has received conditional purchase orders, in hundreds of ton quantities, from global players in the lubrication industry,” said Dr. Niles Fleischer, ApNano Materials’ VP of Business Development. “Additionally, the Volkswagen Group, one of the world’s leading automobile manufacturers, has announced that it has included ApNano Materials products in its automotive nanotechnology program.”

In addition, ApNano Materials will manufacture and sell a new and superior kind of inorganic nanotube for highly sophisticated products such as advanced generation high resolution flat panel displays and atomic force microscopes (AFMs). Inorganic nanotubes are considered to be the ideal material for tomorrow’s nano electronic devices. In many cases they can be used to replace silicon and so have many additional potential applications including semiconductor devices, sensors, biosensors, and nano-motors.

About ApNano Materials

ApNano Materials (www.apnano.com), a private company incorporated in the US in 2002, is headquartered in New York, USA. Its fully-owned Israeli subsidiary - NanoMaterials, Ltd., is located in the high tech science park adjacent to the Weizmann Institute campus in Rehovot, Israel. The company was granted an exclusive license by Yeda Research and Development Co. Ltd, the commercial arm of the Weizmann Institute of Science, Israel, to manufacture, commercialize and sell the new nanomaterials discovered at the Institute. The shareholders of ApNano Materials, besides the founders, are Newton Technology VC Fund, Yeda Research and Development Co. LTD. (the commercial arm of the Weizmann Institute of Science), AYYT Technological Applications and Date Update LTD. (the commercial arm of Holon Academic Institute of Technology, Israel).

NanoLub is a registered trademark of ApNano Materials.

Contact:

David Kanaan
Kanaan Public Relations
Phone: +972-3-6315166
david@kanaan.co.il

Copyright © ApNano Materials Inc.

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