Nanergy Responds to Complaints Regarding Momentum Marketing

NEW YORK--(BUSINESS WIRE)--Oct. 17, 2005--Nanergy Inc. ("Nanergy") (OTC Other: NNGY), announced today that it has been receiving complaints from recipients of faxes that were purportedly disseminated by Momentum Marketing. The fax purports to describe Nanergy's business and predicts future performance of the Company's stock. Management of the Company unequivocally disclaims authorship of the fax. The Company has no relationship with Momentum Marketing and has not authorized anyone to provide any such information to the public. The Company is actively and vigorously investigating this matter and is consulting with counsel to determine what legal actions and recourse are available to it to prevent renegade entities from engaging in further unauthorized and unsanctioned activities.

About Nanergy Inc.

Nanergy Inc. is a developmental stage company headquartered in New York City, with offices near Princeton, NJ at 4260 Rt 1, Suite 7, Monmouth Junction, NJ 08852 as well as 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

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.


DeMonte Associates
Cynthia DeMonte, 212-605-0525

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