Industrial Nanotech President & CEO Retire Over 50% of Issued and Outstanding Shares

NAPLES, Fla.--(BUSINESS WIRE)--June 15, 2005--Industrial Nanotech, Inc., (OTC: INTK) an emerging nanotechnology-based solutions provider, announced today that the Company's Chief Executive Officer, Stuart Burchill and President, Laurie Scherock have collectively decided to retire 97,812,500 shares of the Company's outstanding common stock, each retiring 48,906,250 shares.

President of Industrial Nanotech, Laurie Scherock, commented, "We have decided to retire a significant number of our shares outstanding in an effort to enhance current shareholder value. This action is part of our ongoing investor relations strategy to attract institutional awareness and financially position our Company for growth and expansion."

“We have decided to retire a significant number of our shares outstanding in an effort to enhance current shareholder value. This action is part of our ongoing investor relations strategy to attract institutional awareness and financially position our Company for growth and expansion.”

"It is important that Industrial Nanotech's capital structure does not impede, but rather promotes organic growth which could be potentially explosive due to the superior performance characteristics of our Nansulate coatings. Ongoing developments regarding the international distribution and application testing of Nansulate clearly illustrate this potential. Nansulate Translucent coatings provide both insulation and anti-corrosion protection and are one of a very few single solutions that addresses the serious problem of 'Corrosion Under Insulation'. CUI is a global industry problem that currently costs plants and factories millions of dollars each year in equipment repair and maintenance expenses and is reported to account for more downtime of machinery and equipment than all other problems combined," commented Stuart Burchill, Chief Executive Officer of Industrial Nanotech.

About Industrial Nanotech Inc.

Industrial Nanotech Inc. produces and sells high performance coatings primarily designed for the heavy industry, manufacturing and shipping markets. The Company conducts nanoscience-related research in advanced materials and industrial applications at facilities in New Mexico, Colorado, and New Jersey. Products are available directly from the company or through a rapidly growing worldwide network of exclusive distributors.

For corporate and product information, please visit www.industrial-nanotech.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

Contacts

Industrial Nanotech, Inc.
Laurie Schrock, 800-767-3998
or
ZA Consulting Inc.
Investors & Public Relations:
David Zazoff, 212-505-5976

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