Advance Nanotech Continues to Grow Senior Management Team; Nanotechnology Leader Appoints Dr. Fred Allen To Head Materials Group

NEW YORK--(BUSINESS WIRE)--July 26, 2005--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 appointment of Dr. Fred Allen to the position of Senior Vice President, Materials. Dr. Allen will be responsible for managing all of the firm's partnerships and investments related to materials sciences. He will report directly to Advance Nanotech CEO Magnus Gittins.

"Dr. Allen possesses a strong background in research and development in nanotechnology and materials science. His experiences in coordinating research and development initiatives with sales, marketing, IP management, safety, manufacturing and external regulator efforts will prove invaluable in his new role at Advance Nanotech," said Gittins. "We are very pleased to have him join the Advance team."

“Dr. Allen possesses a strong background in research and development in nanotechnology and materials science. His experiences in coordinating research and development initiatives with sales, marketing, IP management, safety, manufacturing and external regulator efforts will prove invaluable in his new role at Advance Nanotech”

Prior to joining Advance Nanotech, Dr. Allen held a management position in R&D at Engelhard Corporation where he led the technology assessment function and nanotechnology program. Dr. Allen also supported Engelhard's Ventures Group, where he played a key role in evaluating commercial opportunities for the firm. He is a co-founder of the Greater Garden State Nanotechnology Alliance. Dr. Allen's materials expertise spans minerals, ceramics and metals and involves crystal structure determination using X-ray and electron diffraction, optical and electron microscopy, image analysis, electron microprobe analysis, surface chemical analysis, and thermal analysis. Dr. Allen holds degrees from Harvard University and The State University of New York at Stony Brook. He is responsible for ten patent filings and 30 publications and presentations throughout his career.

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. Dr. Allen will be responsible for overseeing the firm's materials-focused investments.

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.

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.