Altair Nanotechnologies Names Its New Pharmaceutical for Kidney Dialysis Patients Renazorb.

Business Editors & Health/Medical Writers

RENO, Nev.--(BUSINESS WIRE)--Sept. 10, 2002

Renazorb's(TM) Successful Laboratory Tests For Phosphate Removal

Attract Attention of Major Pharmaceutical Companies

Altair Nanotechnologies (Nasdaq:ALTI) today announced that it has named its new pharmaceutical for the removal of phosphate ions in kidney dialysis patients Renazorb(TM).

Renazorb(TM) has been developed specifically for the treatment of elevated phosphate levels in patients with end stage renal disease undergoing kidney dialysis.

The new pharmaceutical is a lanthanum-based ceramic micro-structured material that effectively binds phosphate and is designed to remove these ions in the gastrointestinal tract without absorption of the drug into the bloodstream. Altair has already filed patent applications for Renazorb(TM).

"When we compared the phosphate binding of Renazorb(TM) with commercially available lanthanum carbonate tetra hydrate in the laboratory using simulated human stomach fluid containing phosphate, Renazorb's(TM) reaction rates for binding the phosphate were approximately twice those displayed by the benchmark material," said Altair President Dr. Rudi E. Moerck.

"In addition to the rapid removal of phosphate, the amount of Renazorb(TM) required to remove phosphate from the gastrointestinal tract was about 2.5 times less than the benchmark material. This finding is significant as it could reduce the amount of the drug used in dosing and may dramatically increase patient compliance."

Moerck went on to note that Renazorb(TM), a highly insoluble drug, showed undetectable amounts of free lanthanum in simulated stomach fluid.

Altair has executed four confidentiality agreements with major pharmaceutical companies and is currently negotiating a fifth agreement. Three pharmaceutical companies have shown interest in the use of Renazorb(TM) in a filtration device that could be used during kidney dialysis to remove phosphate directly from blood serum.

Two additional major international pharmaceutical companies have shown a general interest in using Altair's nanomaterials and patented porous nanostructures for drug delivery and pharmaceutical sustained release applications. In many cases new drug delivery systems allow pharmaceutical companies to extend patent protection on existing drugs.

According to Moerck, Altair's strategy is to provide laboratory and performance data to a number of pharmaceutical companies and to grant evaluation licenses to those companies that express interest in developing Renazorb(TM) as a drug. The company will also consider exclusive evaluation licenses and exclusive full drug licenses.

Altair Nanotechnologies Inc.

Nanotechnology is rapidly emerging as a unique industry sector. Altair Nanotechnologies is positioning itself through product innovation within this emerging industry to become a leading supplier of nanomaterials and technology worldwide. Altair owns a proprietary technology for making nanocrystalline materials of unique quality both economically and in large quantities.

The company is currently developing special nanomaterials with potential applications in pharmaceuticals, fuel cells, solar cells, advanced energy storage devices, thermal spray coatings, catalysts, cosmetics, paints and environmental remediation. For additional information on Altair's nanoparticle materials, 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 and uncertainties include, without limitation, the possibilities that the company may be unable to attract additional customers, funded research opportunities, product development opportunities or ventures through its sales and branding campaign, that the company may never earn sufficient revenues to be profitable and that the company's nanoparticle products may not be integrated into any major market groups and products, in addition to other risks identified in the company's most recent Annual Report on Form 10-K, as filed with the SEC. 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.