SOURCE: Global Matrechs, Inc.

October 22, 2007 10:30 ET

Global Matrechs, Inc. Receives Initial Order for HNIPU From the Historic Teterboro Airport in the NY/NJ Metropolitan Area

RIDGEFIELD, CT--(Marketwire - October 22, 2007) - Global Matrechs, Inc. (PINKSHEETS: GBMR) announced that it has received a second order from its application partner Phazer, Inc. for HNIPU, which will be used at the Teterboro Airport in New Jersey. While this order is considered a test order, if the product is found successful it is estimated that this will give Global Matrechs the opportunity to coat an initial 50,000 square feet this quarter and possibly an additional 500,000 square feet in 2008.

Teterboro Airport is the oldest operating airport in the New York/New Jersey Metropolitan Area, and has been owned and operated by The Port Authority of New York and New Jersey since 1949. Teterboro Airport is a general aviation airport located in the Boroughs of Teterboro, Moonachie, and Hasbrouck Heights in Bergen County, New Jersey. The airport is 12 miles (19 km) from midtown Manhattan in the New Jersey Meadowlands, which makes it very popular for private and corporate aircraft.

"The momentum is really starting to escalate. We are very excited that all of our hard work in the marketing and production of HNIPU is really starting to pay off. Phazer is a quality company and they are proving to be one of our best sales partners. We look forward to sharing a bright future of growth with them," 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 Eastern Europe 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. (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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