May 23, 2007 — Nanophase Technologies, developer of nanomaterials and advanced nanoengineered products, has filed a Form S-3 with the Securities and Exchange Commission to register 2,000,000 shares of its common stock. Nanophase plans to sell the shares primarily to raise capital to fund acquiring and installing equipment and expanding its facilities to support anticipated increases in nanomaterials volume, and for general corporate purposes.

Joseph Cross, Nanophase’s President and CEO, noted that “production equipment needs to be in place 3-6 months before the orders can be filled and there is a lengthy procurement and build cycle for custom equipment. Recognizing this, the management team and the board of directors believes it is prudent to secure capital during 2007. We plan to use the capital generated from the sale of securities for corporate purposes, including, without limitation, funding equipment and facilities required for expected growth.”