SOURCE: Global Matrechs, Inc.

October 29, 2007 10:45 ET

Global Matrechs, Inc. Continues Being Awarded Additional Orders for HNIPU from Phazer, Inc.

Global Matrechs, Inc. to Deliver HNIPU to the Republic Airport in Long Island, NY

RIDGEFIELD, CT--(Marketwire - October 29, 2007) - Global Matrechs, Inc. (PINKSHEETS: GBMR) announced that it has received a subsequent order from its application partner, Phazer, Inc., for HNIPU, which will be used at the Republic Airport in Long Island, New York. If this initial application is found successful, it is estimated that this will give Global Matrechs the opportunity to take on the major project of coating over 100,000 square feet of hanger space.

Republic Airport is a major general aviation airport located on Long Island in East Farmingdale, New York, one mile east of the central business district of the village of Farmingdale, in Suffolk County, New York. It is a popular destination for aircraft traveling to New York City and Long Island. Although mainly a general aviation airport, it is designated as a reliever airport according to Federal Aviation Administration records.

"This is a landmark opportunity for our company. We have come a long way to have the prospect to begin showcasing our products at this level. By partnering up with Phazer, it has awarded us the chance to capitalize on the opening to service large clients like the Republic Airport," stated Michael Sheppard, President and CEO of Global Matrechs, Inc.

About HNIPU (hybrid non-isocyanate polyurethane): HNIPU exhibits superior resistance properties to chemical degradation: 30-50 percent better over conventional polyurethanes and have 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 does not require special health protection procedures that are normally associated with the use of conventional Polyurethanes since HNIPU does not contain toxic isocyanates. We have an agreement with our sales and manufacturing partner, EFM, to produce HNIPU. HNIPU is currently produced in Israel for worldwide distribution.

About Global Matrechs, Inc.: 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 and sales companies. (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.

Contact Information