SOURCE: Global Matrechs, Inc.

October 16, 2007 10:30 ET

Global Matrechs, Inc. Awarded Initial Order for HNIPU to Service Metropolitan Transit Authority's (MTA) Triborough Bridge and Tunnel Authority of New York City

RIDGEFIELD, CT--(Marketwire - October 16, 2007) - Global Matrechs, Inc. (PINKSHEETS: GBMR) announced that it has received an order from its application partner Phazer, Inc. for HNIPU (hybrid non-isocyanate polyurethane), or "Phazerthane," which Phazer, Inc. uses as its trade name and recognizes as our product. The initial order is from the Metropolitan Transit Authority's (MTA) TRIBOROUGH BRIDGE AND TUNNEL AUTHORITY of New York City, New York. While this is a "Pilot order," it may become the approved product for all future coatings. This could represent hundreds of thousands of square feet in HNIPU coating.

In 1997, The MTA Bridges and Tunnels began a long-term, $550 million program to rehabilitate the Triborough Bridge. The Triborough Bridge and Tunnel Authority services the Bridges and has many garages and warehouses in the NYC proper, and are in the process of upgrading and improving their facilities.

According to the New York State Department of Transportation (NYSDOT), the entire Triborough Bridge complex carries approximately 200,000 vehicles per day (AADT) between Queens, Manhattan and the Bronx. The Hell Gate and Bronx Kills spans of the Triborough Bridge are part of I-278, the only road that runs through all five boroughs of New York City.

Michael Sheppard, President and CEO of Global Matrechs, stated, "I am thrilled to receive this first order from the well-known Triborough Bridge and Tunnel Authority. We will be eagerly awaiting the feedback from the utilization of our product and believe that this could be a long-lasting business relationship."

About HNIPU (hybrid non-isocyanate polyurethane): HNIPU exhibits superior resistance properties to chemical degradation: 30-50 percent better over conventional polyurethanes and has significantly reduced permeability, three to four times less. Unlike conventional polyurethanes with a porous structure, NIPUs form into a material with practically no pores. Due to the absence of isocyanates HNIPU binder can accept fillers without special drying procedures. Synthesis and the use of HNIPU do not require special health protection procedures that are normally associated with the use of conventional polyurethanes since HNIPU does not contain toxic isocyanates.

About Global Matrechs: Global Matrechs has operated its licensed technologies business since 2004. Global Matrechs seeks to convert the licenses it has acquired in emerging technologies in the nuclear energy, environmental and chemical industries into manufactured products primarily through sub-licenses of those technologies to manufacturers. (www.globalmatrechs.com)

Safe Harbor: Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of Global Matrechs, Inc. officials during presentations are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, or which include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "hopes," "seeks," or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by management, are also forward-looking statements as defined by the Act. Some of the factors that could significantly impact these forward-looking statements in this press release include, but are not limited to: insufficient cash flow to continue to fund the development and marketing of the Company's products and technologies; the failure of the Company's products and technologies to become commercially marketable; the loss of key personnel; changes in financial markets and general economic conditions; and, disputes as to the Company's intellectual property rights, including the Company's rights to the technologies that it licenses from Eurotech, Ltd. Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties, and assumptions about Global Matrechs, its licenses, products, economic and market factors and the sectors in which Global Matrechs does business, among other things. These statements are not guarantees of future performance and Global Matrechs has no specific intention to update these statements. More detailed information about those factors is contained in Global Matrechs's filings with the Securities and Exchange Commission.

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