NanoDynamics - first U.S. company to list on the DIFX

Daman will act with Global Crown Capital as lead managers for the offering.

Pricing is expected to be the week of January 28, 2008.

NanoDynamics, Inc. is a U.S.-based global alternative energy and clean technology company utilizing nanotechnology-based advanced materials to develop solutions to some of the world's most urgent challenges in the energy, environment, water and infrastructure markets.

Mr. Keith Blakely, CEO of NanoDynamics said: "We selected the DIFX to go public because we are a global company with partners and customers around the world, including Europe, Russia, India, China and Japan. The geographic proximity to our current partners, prospective customers and market opportunities as well as the attraction of the DIFX and Dubai as an emerging centre for global finance make it strategically very attractive to us."

Mr. Shehab Gargash, Group CEO of Daman said: "This is an historic opportunity for all concerned. We are very proud to act as co-lead manager for this exceptional offering. We believe that this proves the growing acceptance of DIFX as an internationally recognized exchange and are confident that there will be great local and regional interest in this IPO."

Mr. Gargash, added: "The intent of this offering is to place 9,100,000 shares at a filing price between $10-12.50 raising $100m. Pricing is expected to take place the week of January 28, 2008."

Mr. Rani Jarkas, CEO of Global Crown Capital, Ltd. said: "We are committed to offering clients innovative opportunities from around the globe and pleased to provide companies, like NanoDynamics with this avenue for growth." Mr. Jarkas, added: "We have worked hard to develop a core experience in nanotechnology as well as alternative energy and are delighted to introduce NanoDynamics to investors."

NanoDynamics - Developing Next Generation Products
The NanoDynamics product portfolio includes superior and portable solid oxide fuel cells, water and gas filtration products, and advanced materials for a broad range of applications, such as nanocement and nanosteel. Their business units each have competitively superior products at various stages of development and commercialization, as well as a significant and exciting pipeline of future products.

NanoDynamics has established customer and partner relationships with leading global companies to ensure rapid commercial acceptance of its products. NanoDynamics has also formed the only nanotechnology-based Joint Venture with Shell Technology Ventures to develop and commercially exploit to nano-enabled products and solutions in the oil and gas industry - Epik Energy Solutions, LLC.