Advance Nanotech Acquires Equity Stake in Singular ID; Revolutionary Magnetic Tagging Technology Holds Promise for Improved Fraud and Counterfeit Prevention.

NEW YORK -- Advance Nanotech, Inc., (OTC BB:AVNA.OB), the premier provider of financing and support services to drive the commercialization of nanotechnology discoveries, today announced the acquisition of an approximately 10 percent equity stake in Singular ID, a nanotechnology spin-off company from the Institute of Materials Research and Engineering (IMRE) in Singapore. As Singular ID commences the commercialization of its technology, Senior Vice President of Business Development, Stephanie Interbartolo will assume a seat on Singular ID's Board of Directors.

"The equity stake in Singular ID represents Advance Nanotech's first significant investment in the Asian nanotechnology market. We are excited about our partnership with Singular ID and the promise that the company's unique technology holds for the prevention of fraud," said Magnus Gittins, Advance Nanotech CEO. "We look forward to working with Singular ID's management team to build out the company and help bring its integrated tagging solutions to market around the globe."

Singular ID provides individually tailored tagging solutions designed to combat counterfeiting and forgeries. The technology offers unique, irreproducible tags with nanoscale magnetic regions that act like fingerprints to identify each tagged item. Advance Nanotech will help Singular ID further develop and commercialize this technology.

"The market for fraud prevention is growing rapidly as technology advances and counterfeiting processes evolve," said Adrian Burden, CEO of Singular ID. "Advance Nanotech shares our enthusiasm for the role of nanotechnology in providing a robust layer of security and protection for items of value. The partnership between our companies gives us access to new manufacturing and funding sources, and will make Singular ID a significant player in the global market."

Advance Nanotech is currently funding 18 portfolio companies in the electronics, biopharma, and materials industries. The firm provides services ranging from funding, to human capital and research equipment essential to ensuring that the most promising companies can accelerate the path to rapid commercialization. In this way, investor exposure to any particular technology is mitigated with Advance Nanotech retaining the option to increase investment in those technologies that successfully mature. Advance Nanotech commenced operations in Asia in March of this year (please see related release: http://www.advancenanotech.com/050308_southeast_asian_operations.html)

About Advance Nanotech, Inc.

Advance Nanotech Inc. is dedicated to ensuring nanotechnology discoveries reach maximum market potential through successful commercialization. Advance is the trusted guide to commercial success for nanotech entrepreneurs spanning the globe, partnering with leading universities to provide scientists and researchers with mission critical infrastructure support to transform their discoveries to marketable solutions. The organization provides a range of services and support including financing, leadership assets and counsel on intellectual property, licensing and regulatory issues. With a portfolio of nearly 20 companies developing technologies which offer potentially breakthrough nanotechnology discoveries in the electronics, biopharma and materials sectors, Advance's goal is to transform the potential for nanotechnology discoveries into innovative products that further evolve existing industries and enable new markets.

About Singular ID Pte. Ltd.

Head-quartered in Singapore, Singular ID is a nanotechnology spin-off company that was founded to commercialise magnetic tagging technology. With a mission to safeguard customers' interests by providing integrated tagging solutions that protect people, brands, corporate images and market share, Singular ID aims to be the leading solution provider for tracing and authenticating items of value. To achieve this, Singular ID works closely with its clients to tailor its technology to meet specific customer requirements. This may involve undertaking pilot projects where beneficial. For companies who wish to understand more about nanotechnology and the applicability of different brand protection technologies, Singular ID also offers a consultancy service to evaluate the options and create a roadmap for their implementation. Singular ID has licensed core technology from the Agency for Science Technology and Research (A*STAR), Singapore.

(Website: www.singular-id.com; E-mail: [e-mail])

This document contains forward-looking statements by Advance Nanotech regarding its expectations as to its business, and involves risks and uncertainties and may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Such statements are based on management's current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements.

Factors that may cause such a difference include, but are not limited to, problems and risks associated with developments in the nanotechnology industry in general and in Advance Nanotech's products under development in particular; the potential failure of Advance Nanotech's products under development to prove safe and effective in application; uncertainties inherent in the early stage of Advance Nanotech's products under development; failure to successfully implement or complete research programmes; failure to receive marketing clearance from regulatory agencies for our products under development; acquisitions, divestitures, mergers, licenses or strategic initiatives that change Advance Nanotech's business, structure or projections; the development of competing products; uncertainties related to Advance Nanotech's dependence on third parties and partners; and those risks described Advance Nanotech 's filings with the SEC. Advance Nanotech disclaims any obligation to update these forward-looking statements.

Further information about these and other relevant risks and uncertainties may be found in the Advance Nanotech's findings with the Securities and Exchange Commission, all of which are available from the Commission as well as other sources.