GEMZ Corp. Details Progress Using Nanofilms Combining Photovoltaic and Nanotechnology to Power Laptops and Cellphones under Normal Indoor Lighting Conditions

NEW YORK--(BUSINESS WIRE)--July 21, 2004--GEMZ Corp., (OTC: GMZP - News) announced today that its wholly-owned subsidiary, International Nanotechnology Corporation (INC) has made forwards progress towards develop a solar-powered solution for powering cellphones and laptop computers. INC previously announced that it had signed a letter of intent with Terra Solar Development Corp., a leading developer of photovoltaic and nanocell technology to acquire substantially all of its nanotechnology assets and certain photovoltaic assets as well. The solar-powered laptop and cellphone chargers will be the first products resulting from the planned combination.

Laptop and cellphone users everywhere need a cost-effective way to continually power or recharge their units without plugging them in. Previous products on the market use crystalline or polycrystalline silicon photovoltaic cells that just don't do the job, as they work only when they are recharged in direct sunlight. The INC products are believed to be the first to use PV Nanofilms, which combine thin photovoltaic films and nanotechnology so they can also work indoors in most lighting situations. Nanofilms have elements below 1000 and even below 100 nanometers. The National Science Foundation (NSF) defines nanotechnology as consisting of components and elements 1000 nanometers and under. (1 nanometer is one billions of a meter or 10 Angstroms).

“These two planned new products are the first of what we expect will be a family of consumer products that utilize nanotechnology to provide cost-effective solutions to problems not previously solved with conventional technology and which have wide consumer application.”

Dr. Zoltan Kiss, who upon completion of the acquisition will become Chief Executive Officer of INC and who is a noted inventor, with over thirty patents to his credit said, "These two planned new products are the first of what we expect will be a family of consumer products that utilize nanotechnology to provide cost-effective solutions to problems not previously solved with conventional technology and which have wide consumer application."

The product is expected to be available for sampling in the fourth quarter of 2004. Pricing has not been announced but is expected to be very competitive with older, more limited solutions.

About GEMZ Corp.

GEMZ Corp. is a publicly traded company located in New York City. Its new corporate website is www.gemzcorp.net.

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