Nanotechnology Now - Press Release: Nanophase Places 1,900,000 Shares

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Abstract:
Nanophase Technologies (Nasdaq: NANX), a technology leader in nanomaterials and advanced nanoengineered products, announced placement of 1,900,000 shares of common stock from the Company's SEC Form S-3 filed on May 22, 2007, at a purchase price of $5.92 per share based on the ten-day volume-weighted average price of the common stock, discounted 4%, for the period ending June 28, 2007. The placement resulted in proceeds of approximately $10.6 million, net of offering expenses and a 5% placement agency fee. Global Crown Capital, LLC acted as the exclusive placement agent for the placement. "Global Crown Capital has facilitated the addition of a high quality institutional investor to the Company's list of shareholders," noted Jess Jankowski, Nanophase's CFO.

Nanophase Places 1,900,000 Shares

ROMEOVILLE, IL | Posted on July 2nd, 2007

In the near future, Nanophase plans to withdraw the remainder of the 2
million shares registered in the Form S-3, or 100,000 shares, and close the
shelf registration. Nanophase plans to use the proceeds primarily to
acquire and install equipment and expand the Company's Romeoville facility
to support anticipated increases in nanomaterial product demand, as well as
for general corporate purposes.

"We believe that additional equipment and facilities are a natural
result of increasing nanomaterial product demand and Company growth,"
stated Joseph Cross, Nanophase's President and CEO. "In 2000, as we
developed a new business direction for Nanophase, we recognized that as
nanomaterial market demand grew and applications matured, the preferred
customer format for incorporation of nanomaterials into processes or
products would be surface engineered, or coated, nanoparticles and/or
dispersions of nanoparticles in water or solvents. We understood that we
could not be successful simply providing customers with nanomaterials in
powder form."

"Based on this vision, we created a novel delivery platform, with both
the manufacturing technologies and equipment, over the ensuing 3-4 years.
This integrated platform, along with its patented and proprietary equipment
and processes, has given Nanophase what we believe is a unique ability to
deliver high-performing nanoengineered products that are tailored to
provide specific applicational properties and are easy for the customer to
incorporate into their own products. Nanophase's integrated nanomaterials
platform is driving our business model and market success. While we can
accommodate volume growth in the near future, as we plan Company growth
over the next 3-4 years, additional facilities and equipment appear to be
vital to support anticipated future increased volume and products."

"While details of the plan are still evolving, the entire staged plan
is expected to require 18-24 months for full completion and necessary
equipment to be production ready for potential customer demand and product
delivery. We believe it is critical to anticipate demand by creating
adequate capacity to handle additional manufacturing growth and also to
respond to our customers' needs for occasional burst manufacturing and
inventory capability. As anticipated customer demand grows, Nanophase needs
to be in the position to deliver."

Following this placement, the Company has 20,980,495 million shares of
stock outstanding.

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About Nanophase Technologies
Nanophase Technologies Corporation (NANX), http://www.nanophase.com , is
a leader in nanomaterials technologies and provides nanoengineered
solutions for multiple industrial product applications. Using a platform of
patented and proprietary integrated nanomaterial technologies, the Company
creates products with unique performance attributes from two ISO 9001:2000
and ISO 14001 facilities. Nanophase delivers commercial quantity and
quality nanoparticles, coated nanoparticles, and nanoparticle dispersions
in a variety of media. The Company owns or licenses 18 United States and 48
foreign patents and patent applications. Information about Nanophase may be
found in the Company's public filings or on its website.

This press release contains words such as "expects", "shall", "will" ,
"believes" and similar expressions that are intended to identify forward-
looking statements within the meaning of the Safe Harbor Provisions of the
Private Securities Litigation Reform Act of 1995. Such statements in this
announcement are made based on the Company's current beliefs, known events
and circumstances at the time of publication, and as such, are subject in
the future to unforeseen risks and uncertainties that could cause the
Company's results of operations, performance and achievements to differ
materially from current expectations expressed in, or implied by, these
forward-looking statements. These risks and uncertainties include the
following: a decision by a customer to cancel a purchase order or supply
agreement in light of the Company's dependence on a limited number of key
customers; uncertain demand for, and acceptance of, the Company's
nanocrystalline materials; the Company's manufacturing capacity and product
mix flexibility in light of customer demand; the Company's limited
marketing experience; changes in development and distribution
relationships; the impact of competitive products and technologies; the
Company's dependence on patents and protection of proprietary information;
the resolution of litigation in which the Company may become involved; and
other risks described in the Company's Form 10K filed March 14, 2007, and
other filings with the Securities and Exchange Commission. In addition, the
Company's forward-looking statements could be affected by general industry
and market conditions and growth rates. Except as required by federal
securities laws, the Company undertakes no obligation to update or revise
these forward-looking statements to reflect new events, uncertainties or
other contingencies.

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Contacts:
Nanophase Technologies Corporation
1319 Marquette Drive
Romeoville, IL 60446
Phone: +1-630-771-6700
Fax: +1-630-771-0825

Investor Relations
+1-630-771-6708

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