SOURCE: Material Technologies, Inc.

May 03, 2006 06:00 ET

Material Technologies Targets Railroad Industry Where Major Freight Railroads Are Expected to Invest $8.2 Billion to Improve Infrastructure in 2006

LOS ANGELES, CA -- (MARKET WIRE) -- May 3, 2006 -- Material Technologies, Inc. (OTC BB: MTNA) ("MATECH") announced that it is targeting the growing railroad industry and receiving significant interest in its innovative metal fatigue detection solutions. According to a report published by the Association of American Railroads (AAR) last month, major freight railroads will spend more than $8.2 billion in 2006 laying new track, buying new equipment and improving infrastructure. MATECH's patented Electrochemical Fatigue Sensor™ (EFS) technology can accurately measure microscopic growing cracks and metal fatigue in railway tracks and equipment, enabling railroad engineers to improve safety, optimize repairs and increase efficiency.

According to the Association of American Railroads, U.S. Class I freight railroads will invest $8.2 billion in infrastructure this year. From 1980 to 2005, freight railroad capital spending was more than $120 billion. In addition, railroads spend $10 billion to $12 billion each year to repair and maintain their infrastructure and equipment, for total spending of nearly $360 billion since 1980. The AAR noted that the U.S. Department of Transportation estimates that freight traffic will grow more than two-thirds by 2020 and that these investments are a necessary part of an ongoing effort to keep pace with anticipated traffic growth. The piece can be read in its entirety at

"Major freight railroads are looking for ways to improve the safety and efficiency of their equipment and infrastructure this year and we believe our breakthrough metal fatigue detection technology offers a perfect solution," said Robert M. Bernstein, CEO of MATECH. "We have already received strong interest from railroad organizations and were asked to present our solutions at the International Exhibition of Railtrack Technology in Münster/Westfalen, Germany, later this month."

The $286 billion U.S. Transportation Bill signed into law last Fall requires each railway track operator using continuous welded rail track to include procedures to improve the identification of cracks as well as improve the methods of inspection of joint bars in continuous welded rail. MATECH's EFS nondestructive testing system can satisfy these new welded rail safety improvements and requirements by detecting growing cracks as minute as 0.010 inches.

About Material Technologies, Inc. (OTC BB: MTNA)

MATECH is an engineering, research and development company specializing in technologies to monitor metal fatigue in real time. The company's leading edge metal fatigue detection and monitoring solutions can accurately test the integrity of metal structures and equipment including bridges, railroads, airplanes, ships, cranes, power plants, mining equipment, and heavy iron. MATECH owns the only nondestructive testing technology able to find growing cracks as minute as 0.010 inches -- critical information that allows structural engineers to isolate and repair the more than 100,000 steel bridges in the U.S. which have been classified as structurally deficient or functionally obsolete by the Federal Highway Administration. MATECH has exclusive rights to seven patents along with $8.3 million in already completed contracts from the U.S. Government for research, testing and validation of its innovative solutions.

To hear more about MTNA from CEO/President Robert M. Bernstein go to:

Forward-Looking Statements:

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Such statements are indicated by words or phrases such as "believe," "will," "breakthrough," "significant," "indicated," "feel," "revolutionary," "should," "ideal," "extremely" and "excited." These statements are made under "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See the Company's filings with the Securities and Exchange Commission including, without limitation, the Company's recent Form 10-K and Form 10-Qs, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.

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