Industrial Nanotech Announces Negotiations with a Fortune Global 500 Company for Sale of Over One Billion Square Feet of Nansulate Shield Over Five Years

Industrial Nanotech, Inc., a company that specializes in nanotechnology innovation and product development, today announced that it is currently in negotiations for the sale of more than one billion square feet of Nansulate Shield to a Fortune Global 500 Company over a 5 year period. Nansulate Shield is the Company's revolutionary new thermal insulation material.

Industrial Nanotech confirms that it is in the process of negotiating price, terms, delivery schedules and locations with a multinational corporation for Nansulate Shield and both parties are working diligently toward reaching a written agreement. Management will provide additional details as the companies progress toward the finalization of current negotiations.

"Discussions and meetings with this company actually began in the summer of 2004 when they approached us to discuss our technical capabilities," stated Chief Executive Officer of Industrial Nanotech, Stuart Burchill. "Coincidentally, the technology that I had started developing in late 2003, which is now the basis for our recently introduced Nansulate Shield product line, met their needs."

"During the past few years our two companies have formed an excellent working relationship which has helped to expedite these negotiations. Many of the critical parameters of the deal have already been agreed upon," continues Mr. Burchill. "The opportunity for me to learn about their industry and markets at the same time that I was developing this significant technology allowed me to create a finished product particularly suited to their requirements and core competencies in a well established market sector where they are one of the dominant players worldwide."

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