Altair Nanotechnologies Files Patent on NanoCheck Algae Preventer for Prevention of Algae in Swimming Pools

Business Wire, Dec 16, 2002

Business Editors

RENO, Nev.--(BUSINESS WIRE)--Dec. 16, 2002

NanoCheck Safely Prevents Algae Growth In Swimming Pools, Spas and

Decorative Ponds; Testing in Commercial Fish Farms Planned

Altair Nanotechnologies Inc. (Nasdaq:ALTI) announced the filing of a new patent application for the production of NanoCheck(TM) Algae Preventer, a product that effectively removes phosphates from water, which usually prevents algae growth in swimming pools, decorative ponds, water fountains and spas.

According to Dr. Rudi E. Moerck, president of Altair Nanotechnologies, several companies are in the process of executing confidentiality agreements allowing them to receive samples of NanoCheck for testing purposes.

"Our initial test results are more than encouraging," commented Moerck. "NanoCheck removed phosphate and did not appear to have the problems associated with existing phosphate removal chemicals which require the use of flocculants or auxiliary chemicals. Our goal is to license our technology to produce NanoCheck to a large company that already serves the swimming pool and spa industry.

"The industry, according to the National Swimming Pool and Spa Institute, represents over 8 million pools and 4 million existing spas and hot tubs worldwide with 360,000 pools and 260,000 spas and hot tubs being installed on a yearly basis."

In addition to the use of NanoCheck in swimming pools and spas, Altair plans to expand its testing to confirm that it will not harm fish. If tests prove successful, a potentially large market will open for the use of NanoCheck in thousands of commercial fish farms worldwide.

According to statistics provided by owners of commercial fish farms, algae removal and prevention is a significant percentage of their annual operating cost.

NanoCheck is an easy-to-use product made with a new Altair process that produces a nanoparticle structure with a large surface area. The product is insoluble in water over a wide pH range.

Altair Nanotechnologies Inc.

Nanotechnology is rapidly emerging as a unique industry sector. Altair Nanotechnologies is positioning itself through product innovation within this emerging industry to become a leading supplier of nanomaterial technology and nanomaterials worldwide. Altair owns a proprietary technology for making nanocrystalline materials of unique quality both economically and in large quantities.

The company is currently developing special nanomaterials with potential applications in pharmaceuticals, batteries, fuel cells, solar cells, advanced energy storage devices, thermal spray coatings, catalysts, cosmetics, paints and environmental remediation. For additional information on Altair and its nanoparticle materials, visit www.altairnano.com.

Forward-Looking Statements

This release may contain forward-looking statements, as well as historical information. Forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the company's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward- looking statements in this release. These risks and uncertainties include, without limitation, the company's ability to attract large companies that services the swimming pool and spa industries. Additionally, the company may be unable to attract additional customers, fund additional research or product development through its sales and branding campaign. The company may never earn sufficient revenues to be profitable; its nanoparticle products may not be integrated into any major market groups and products. In addition, other risks are identified in the company's most recent annual report on Form 10-K, as filed with the SEC. Such forward-looking statements speak only as of the date of this release. The company expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in company expectations or results or any change in events.