Galtech Receives Approval from the Securities and Exchange Commission Approval of its Form 10-SB Filing Gives Galtech New Emphasis and

Meaning in the Financial Community



    PROVO, Utah, Nov. 2 /PRNewswire/ -- Galtech Semiconductor Materials Corp.
 (OTC Bulletin Board:   GTSM) today announced that it has reached an important
 milestone in its business development.  The Securities and Exchange Commission
 has informed the company that its Form 10-SB filing was accepted as of the
 29th of October and that it is now a full reporting company.  In reiterating
 his earlier comments President and CEO Dr. William F. Pratt explained the
 importance of this new securities approval by saying, "This application, now
 approved by the SEC, greatly enhances Galtech's ability to source the funding
 it needs to commercialize its product line in both our semiconductor materials
 area and the motor/generator areas.  The approval also gives us greater access
 to new market makers, financial institutions, fund portfolio managers as well
 as a wide range of individual brokers and analysts."  As was mentioned at the
 time of filing this development marks the next step in bringing Galtech's
 proprietary technology into commercial reality.
     Galtech is an innovative research and development company with its
 beginnings in the development and manufacture of high quality, specialty,
 compound semiconductor materials.  Galtech was reorganized in 1998 to
 manufacture compound semiconductor materials and is involved in cadmium
 telluride (CdTe) process and product development.  Crystalline material made
 from this compound is capable of converting solar or other sources of radiant
 energy to electrical current.  Such materials are widely used in solar-cell
 arrays, lasers, infrared detectors and other devices.  Galtech also recently
 announced further progress in its Energy Research Division in its ability to
 develop and test the Motor/Generator technology.
     This press release includes forward-looking statements that involve risks
 and uncertainties.  It is not a solicitation to purchase or sell securities of
 Galtech Semiconductor Materials Corporation.  Readers should consult with
 their own independent tax, business or financial advisors with respect to any
 investment in this company.  For investor relations please contact William R.
 Tunnell at (623-825-2550), or consult our web site at www.galtech-corp.com.
 
 

SOURCE Galtech Semiconductor Materials Corp.

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