Nanotechnology Now - Press Release: Nanophase Registers Shelf

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Abstract:
Nanophase Technologies (Nasdaq: NANX), a technology leader in nanomaterials and
advanced nanoengineered products, noted that it has filed a Form S-3 with
the Securities and Exchange Commission to register 2,000,000 shares of the
Company's common stock. Nanophase plans to sell the shares primarily to
raise capital to fund acquiring and installing equipment and expanding the
Company's facilities to support anticipated increases in the volume of
nanomaterials being produced by the Company, as well as for general
corporate purposes.

Nanophase Registers Shelf

ROMEOVILLE, IL | Posted on May 23rd, 2007

Joseph Cross, Nanophase's President and CEO, noted that "production
equipment needs to be in place 3-6 months before the orders can be filled
and there is a lengthy procurement and build cycle for custom equipment.
Recognizing this, the management team and the board of directors believes
it is prudent to secure capital during 2007. We plan to use the capital
generated from the sale of securities for corporate purposes, including,
without limitation, funding equipment and facilities required for expected
growth."

A registration statement relating to these securities has been filed
with the Securities and Exchange Commission but has not yet become
effective. These securities may not be sold nor may offers to buy be
accepted prior to the time the registration statement becomes effective. A
written prospectus for the offering may be obtained from any of the company
contacts listed below.

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About Nanophase Technologies
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. Information about Nanophase may be found in the
Company's public filings or on its website.

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 May 9, 2007, 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.