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Kronos Announces First Quarter Business Update and Financial Results
Date:11/15/2007

BELMONT, Mass., Nov 15 /PRNewswire-FirstCall/ -- Kronos Advanced Technologies, Inc. (OTC Bulletin Board: KNOS) President and Chief Executive Officer, Daniel R. Dwight, reported a business update and financial results for the three months ended September 30, 2007 on SEC Form 10-QSB.

Business Update

Commercial and Residential Products.

During the first fiscal quarter of 2008, Kronos executed a Letter of Intent for the development, manufacture and sale of air purification devices based upon Kronos' proprietary air movement and purification technology with a leading national retailer. It is expected that Kronos and the retailer would enter into a definitive purchase agreement providing for the exclusive sale of private label residential standalone air purifiers through the retailer's distribution channels. Actual purchases of the products are dependent on the successful development of the product, the negotiation of a definitive purchase agreement incorporating the terms of the letter of intent, other usual and customary terms and the retailer's discretion. Under the terms of the Letter of Intent, the retailer has paid Kronos a portion of the development costs of the new products and will contribute marketing resources to assist in the product development process. The intent of the parties is for Kronos to lead and manage all development, production and manufacturing activities for the Kronos air purifier and for the retailer to actively market the Kronos air purifier through its distribution channels.

In addition during the quarter, Kronos continued its development of a silent kitchen range hood application based on its proprietary technology. In October 2007, under the terms of a development agreement, Kronos shipped additional range hood prototypes to a global consumer products customer for testing and evaluation.

Medical Products.

During the quarter, Kronos earned $25,000 in revenue from licensing fees from its license agre
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SOURCE Kronos Advanced Technologies, Inc.
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