SOURCE: Altair Nanotechnologies Inc.

December 28, 2006 12:32 ET

Altairnano Completes $750,000 Battery Pack Shipment for Phoenix Motorcars

Quality and Performance of Battery Packs Exceed Expectations

RENO, NV -- (MARKET WIRE) -- December 28, 2006 -- Altair Nanotechnologies Inc. (NASDAQ: ALTI) announced today that it shipped ten rapid charge, high power NanoSafe™ battery packs to Phoenix Motorcars, Inc. on schedule. Phoenix Motorcars confirmed that the shipments of ten 35 KWh battery packs fulfilled and completed the $750,000 order placed by Phoenix in July 2006. The company placed an additional order for one 35 KWh battery pack which will be shipped later this week.

"Altairnano's NanoSafe battery packs meet or exceed all performance specifications and the shipments were made on schedule and on time to Phoenix Motorcars," said Altairnano President and CEO Alan J. Gotcher Ph.D. "We expect the new year to be a significant one for Altairnano as we are prepared to accept additional NanoSafe battery pack orders from Phoenix Motorcars to support the introduction of their sport utility truck in spring 2007."

Altairnano's NanoSafe battery packs allow the Phoenix sport utility truck (SUT) and sport utility vehicle (SUV) to exceed performance specifications for the State of California Type III Zero Emissions Vehicle. Altairnano provides nano-Titanate based batteries that are used in two battery pack configurations: a 35 KWh and a 70 KWh NanoSafe pack. The 35 and 70 KWh NanoSafe packs provide sufficient power and energy for a fleet vehicle to travel up to 130 or 250 miles, respectively, with a top speed of over 100 mph. Both NanoSafe battery packs can be recharged in less than 10 minutes using an industrial 480 volt battery charging platform. The NanoSafe battery packs can also be charged over longer periods of time when using typical 120 or 240 volt power sources. An on-board charger is standard equipment for both the Phoenix SUT and SUV vehicles.

"We are pleased with the on-time shipments, the quality and performance of the Altairnano NanoSafe battery packs," said Phoenix Motorcars' CEO Daniel J. Elliott. "Early customer interest in our SUV and SUT vehicles has exceeded expectations. Phoenix has committed to use Altairnano's NanoSafe battery packs exclusively and we anticipate placing more orders for the NanoSafe battery packs shortly. Phoenix is on track to begin commercial delivery of our full size, all electric Sport Utility Trucks to the fleet market in the spring of 2007."

ABOUT ALTAIR NANOTECHNOLOGIES INC.

Altairnano is an innovator and supplier of advanced novel, ceramic nanomaterials. Altairnano's leading edge scientists are complemented by a seasoned management team with substantial experience in commercializing innovative, disruptive technologies. The company has developed nanomaterials for the alternative energy, life sciences and performance materials markets based on its proprietary manufacturing process. This process also provides the foundation for its innovative AHP pigment process. For more information visit: www.altairnano.com.

Forward-Looking Statements

This release may contain forward-looking statements as well as historical information. Forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the company's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks include the risk that Altairnano's battery program will not continue to grow as planned in 2007 because of the potential absence of projected orders from Phoenix or other potential purchasers of NanoSafe™ batteries for various possible reasons, including the possible absence of a substantial market for electric vehicles or other machinery potentially using the NanoSafe™ batteries, possible financial problems at or changes of focus by potential customers for NanoSafe batteries, possible technical problems with the NanoSafe™ batteries or related components or end products or competition from competing technologies. In addition, other risks are identified in the company's most recent Annual Report on Form 10-K, as filed with the SEC, as supplemented by the company most recent Quarterly Report on Form 10-Q. Such forward-looking statements speak only as of the date of this release. The company expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in company expectations or results or any change in events.

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