MPM Technologies Inc. — Nasdaq Approves Continued Listing

Business Wire, August 6, 2002

Business Editors

PARSIPPANY, N.J.--(BUSINESS WIRE)--Aug. 6, 2002

MPM Technologies, Inc. (Nasdaq: MPML) announced today that as a result of MPM Technologies presentation before an oral hearing of a Nasdaq Listing Qualification Panel on July 18, 2002, MPM Technologies will continue to be listed on The Nasdaq SmallCap Market.

In a letter to the company, Nasdaq stated, "The Panel was of the opinion that the Company presented a definitive plan that should enable it to evidence compliance with the shareholders' equity standard within a reasonable period of time and to sustain compliance with that requirement as well as all other requirements for continued listing on The Nasdaq SmallCap Market over the long term."

Following are the voting results pursuant to the August 2, 2002 Special Meeting of Shareholders.

Proposal 1  Approval to issue $3 million in common shares to purchase
            Mariners Haven
              For              Against      Abstain      Not Voted
              911,307           63,820       62,346        124,337

Proposal 2  Approval to issue shares pursuant to terms in the
            convertible promissory note
              For              Against      Abstain
            1,070,136           88,106        3,568

Proposal 3  Approval to issue common shares to Michael J. Luciano in
            exchange for $300,000 in debt
              For              Against      Abstain
            1,092,290           65,072       4,448

MPM Technologies, Inc., is a holding company with four subsidiaries: Huntington Environmental Systems, Inc., and AirPol, Inc., both of which design, build, install and service industrial air pollution control systems and Nupower, Inc. which is engaged in the development and marketing of Skygas, a patented waste-to-fuel Further information about MPM Technologies, Inc. may be obtained on the Internet at www.mpmtech.com.

Statement Under the Private Securities Litigation Reform Act.

With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to, product acceptance, economic, competitive, governmental, results of litigation, technological and/or other factors which are outside the control of the company.