Nanophase and Competitive Technologies Enter Nanotechnology Agreement

    ROMEOVILLE, Ill., Oct. 18 /PRNewswire-FirstCall/ -- Nanophase Technologies
 (Nasdaq:   NANX), a technology leader in nanomaterials and nanoengineered
 products, announced that the Company and Competitive Technologies (Amex:   CTT)
 have entered into an exclusive agreement under which CTT will actively
 identify innovative nanotechnologies developed by multiple universities and
 companies that may be synergistic with Nanophase's technologies and strategic
 forward initiatives for Nanophase's evaluation and potential licensing.  As
 such opportunities are identified, Nanophase has the exclusive option to
 evaluate, license and commercialize selected technologies as the Company deems
 appropriate.
     "In view of Nanophase's strategic objectives and initiatives, the
 relationship with CTT offers Nanophase a direct conduit to the vast array of
 emerging or new nanotechnologies that are being developed in universities and
 companies," stated Joseph Cross, Nanophase's President and CEO.  "Our vision
 is to continue expanding the technology and product capability of the Company
 as those capabilities clearly relate to revenue growth, especially through
 relationships with our current and future market partners.  CTT offers
 Nanophase a direct, real-time window into nanotechnologies, particularly those
 relating to nanomaterials that are being developed across the US.  Obviously,
 given the level of activity and federal, state and private funding, there is a
 considerable amount of nanotechnology being created that, when combined with
 our current technology, may offer Nanophase future new products or market
 growth areas.  CTT's capabilities, and its multiple university and industrial
 relationships, are expected to provide Nanophase with the necessary
 identification and potential commercial development opportunities to leverage
 our revenue growth rate going forward."
     Dr. D. J. Freed, CTT President and CEO, stated, "We are excited to be
 collaborating with one of the premier nanotechnology companies in the world.
 It is critically important to successful advanced technology licensing to have
 partners who understand and are capable of evaluating and quickly
 commercializing these technologies.  Nanotechnology is one such advanced
 technology that fits our long-term strategic vision to create lasting value
 for our shareholders, clients, customers, and employees.  We believe that this
 partnership will help us drive recurring revenues and increase royalties for
 our clients from this rapidly expanding area of technology."
 
     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 22 United States and 50 foreign patents and patent
 applications.  Information about Nanophase may be found in the Company's
 public filings or on its website.
 
     Competitive Technologies, established in 1968, is a full service
 technology transfer and licensing provider focused on the technology needs of
 its customers and transforming those requirements into commercially viable
 solutions. CTT is a global leader in identifying, developing and
 commercializing innovative technologies in life and physical sciences,
 electronics, and nanotechnologies developed by universities, companies and
 inventors. CTT maximizes the value of intellectual assets for the benefit of
 its customers, clients and shareholders. Information about Competitive
 Technologies may be found in the Company's public filings or on its website at
 http://www.competitivetech.net .
 
     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 risk 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 10Q filed
 August 9, 2005 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.
 
 

SOURCE Nanophase Technologies Corporation

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