Global Matrechs, Inc. Provides Update on NuCap(TM) Radiation Encapsulation Material, to be Utilized by NUCON-RF, Inc for Chernobyl Shelter Implementation Plan; NUCON-RF, to Purchase an Annual Quantity of 250 Metric Tons of NuCap(TM).

RIDGEFIELD, Conn. -- Global Matrechs, Inc. (OTCBB: GBMR), http://www.globalmatrechs.com, a company with technologies in the nuclear, chemical and environmental sectors, announces that publicly traded NUCON-RF, Inc. (OTC: NNRF.PK) and ATOMSTROYEXPORT (``ASE'') have entered into an agreement under which NUCON-RF will become the project partner and supplier of NuCap(TM) radiation encapsulation technology under its sales agreement with Global Matrechs to ASE for the Chernobyl Shelter Implementation Plan (the "Plan"). NUCON-RF and ASE intend to convert Chernobyl's Reactor 4 into an environmentally safe site by utilizing the NuCap(TM) product.

NuCap(TM), a license owned exclusively by Global Matrechs, Inc, is a material that is highly resistant to radiation and corrosion. It has been engineered for use in a wide variety of applications in low to high level radiation and other environmentally challenging settings. NuCap(TM) applications range from in-situ stabilization, D & D, containment and encapsulation to transportation and final storage and disposal.

In its sales agreement with Global Matrechs, NUCON-RF estimates a potential need to purchase an annual quantity of 250 metric tons of NuCap(TM) from Global Matrechs which will be manufactured by Global's manufacturing partner, Dow Corning. NUCON-RF stated in a May 25, 2006 press release that it believes it may be able to quantify the quarterly revenues from the Plan during the second quarter of 2006. The Plan is estimated to continue through 2009. Other NuCap(TM) applications are currently under application engineering reviews by NUCON-RF and other parties.

Michael Sheppard, President of Global Matrechs, Inc. commented, "Our sales agreement with NUCON-RF potentially represents significant revenues for our Company once actual orders are placed. Our technology is currently on site and was used previously for a small scale application at the Chernobyl location, and it appears that the Chernobyl location is now ready for a larger scale implementation in conjunction with NUCON-RF and ATOMSTROYEXPORT."

About Global Matrechs: www.globalmatrechs.com Global Matrechs operates a licensed technologies business. Through its licensed technologies business, Global Matrechs seeks to convert the licenses it has acquired in emerging technologies in the nuclear energy, environmental and chemical industries into manufactured products primarily through sub-licenses of those technologies to manufacturers.

The company has previously been traded under the symbol (OTCBB: GMTH)

About NUCON-RF: NUCON is a technical solutions company focused on high-end environmental markets in the Former Soviet Union, Eastern Europe and Asia. NUCON is a US Corporation with its executive and operations offices are located in Moscow, Russia. http://www.nucon-rf.com

"Forward-Looking Statements"

Investors are cautioned that certain statements contained in this document, as well as other statements in periodic press releases and some oral statements of Global Matrechs, Inc. officials during presentations, are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act").

Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, or which include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", "hopes," "seeks," or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by management, are also forward-looking statements as defined by the Act.

Some of the factors that could significantly impact these forward-looking statements in this press release include, but are not limited to: insufficient cash flow to continue to fund the development and marketing of the Company's products and technologies; the failure of the Company's products and technologies to become commercially marketable; the loss of key personnel; changes in financial markets and general economic conditions; and, disputes as to the Company's intellectual property rights, including the Company's rights to the technologies that it licenses from Eurotech, Ltd. Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties, and assumptions about Global Matrechs, its licenses, products, economic and market factors and the sectors in which Global Matrechs does business, among other things. These statements are not guarantees of future performance and Global Matrechs has no specific intention to update these statements. More detailed information about those factors is contained in Global Matrechs's filings with the Securities and Exchange Commission.