Nanergy To Host Investor Teleconference; Management to Report on Current Status and Forward Momentum

NEW YORK--(BUSINESS WIRE)--July 8, 2005--Nanergy Inc. ("Nanergy"), formerly ObjectSoft Corp. (OTC Other: NNGY, formerly OSFT) today announced that management will conduct an investor teleconference to update shareholders concerning the Company's current status and strategic initiatives.

The objective of this live teleconference is to keep shareholders current concerning the mission of the Company. Shareholders will be updated with the date and time of the call within one week.

Nanergy is entering the nanotechnology and alternative energy arenas - both areas of burgeoning growth as the world's energy crisis escalates and government's focus is on sources of fuel and energy and the demand for nanoscale devices is growing at 30.6% annually.

From an industry perspective, BCC Research reported that the total global demand for nanoscale materials, tools, and devices was estimated at $7.6 billion in 2003 and is expected to grow at an AAGR (average annual growth rate) of 30.6% to reach $28.7 billion in 2008. Comparing nanotechnology to other key emerging technologies, the global nanotechnology market, at about $7 billion in 2002, was roughly comparable in size to the biotechnology sector, but far smaller than the $800 billion global informatics market. However, the nanotechnology market is believed to be growing more than twice as fast as either of the other two.

The nanomaterials segment, which includes several long-established markets such as carbon black rubber filler, catalytic converter materials and silver nanoparticles used in photographic films and papers, presently accounts for over 97.5% of global nanotechnology sales. By 2008, the nanomaterials share of the market will have shrunk to 74.7% of total sales. Nanotools will have increased their share to 4.3% ($1.2 billion), and nanodevices will have established a major presence in the market with a 21% share ($6.0 billion).

Nanoparticles currently account for the largest share of the nanomaterials market. However, the fastest-growing nanomaterials segments are nanotubes (with a projected AAGR of 173% over the next five years) and nanocomposites (76% AAGR).

Other trends, it is believed, will contribute to the future growth of the nanotechnology sector, including high levels of government support for nanotechnology R&D (estimated at over $2.2 billion in 2002, alone) and growing venture capital investments in nanotechnology companies, which have increased sixfold over the past two years.

Management plans to conduct shareholder teleconferences on a regular basis update shareholders and potential investors.

About Nanergy Inc.

Nanergy Inc. is a developmental stage company headquartered in New York City, with offices in Princeton, NJ and in Hungary. Its focus is on developing exciting consumer products that harness nanotechnology, and especially photovoltaic nanofilms, while conducting ongoing research in storing hydrogen using carbon nanotubes. Its new corporate website is still being developed but is available for viewing at http://www.nanergyinc.com.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties. This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words ``may,'' ``would,'' ``will,'' ``expect,'' ``estimate,'' ``anticipate,'' ``believe,'' ``intend,'' ``promise,'' ``seeking to,'' ``negotiating to'' and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.

Contacts

Investors:
DeMonte Associates
Cynthia DeMonte, 212-605-0525
cdemonte@aol.com
www.demonte.com

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