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Advance Nanotech Reports First Quarter 2008 Financial Results
Date:5/19/2008

As of March 31, 2008, Advance Nanotech had approximately 36.7 million shares of common stock outstanding.

QUARTER HIGHLIGHTS AND SUBSEQUENT EVENTS

Advance Nanotech added homeland security expert to its Board of Directors

On January 23, 2008, Advance Nanotech announced the appointment of Mr. Joseph C. Peters to its Board of Directors. Mr. Peters is an internationally recognized authority on high-level security, intelligence, surveillance and protection systems, having served both the Clinton and Bush Administrations. Mr. Peter's thirty-year public service career began as a police officer to Executive Deputy Attorney General of Pennsylvania, Special U.S. Department of Justice Mafia Prosecutor and notably as the Drug Czar's Liaison to Tom Ridge and the White House Office of Homeland Security. Currently, Mr. Peters consults to national and international law enforcement organizations on counter-terrorism and related technology issues. He is a member of the International Association of Chiefs of Police, and serves on its Terrorism Committee

Advance Nanotech announced stockholder vote results

On February 12, 2008, Advance Nanotech held a special meeting of its stockholders seeking approval to increase its authorized shares of common stock from 75,000,000 to 200,000,000 shares. The Company received an affirmative vote of approximately 95 percent.

Advance Nanotech appoints new incoming CEO and makes other management changes

On May 5, 2008, Advance Nanotech announced that it had confirmed the appointment of Bret Bader as its incoming Chief Executive Officer effective upon completion of the Owlstone Exchange Agreement. Mr. Bader is currently Chief Executive Officer of Owlstone Nanotech, Inc, Advance Nanotech's majority owned subsidiary. Mr. Bader is a recognized authority on the availability and effective deployment of security technology, with emphasis on explosive, chemical, biological, narcotics and weapons detection systems
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SOURCE Advance Nanotech, Inc.
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