Advance Nanotech Subsidiary Announces Nine New Patent Applications for Nanotech-Based Chemical Detection; New Technology Reduces the Cost and Complexity of Detecting Airborne Chemical Toxins

NEW YORK--(BUSINESS WIRE)--Feb. 21, 2006--Owlstone Nanotech, a pioneer in the commercialization of nanotechnology-based chemical detection products, today announced that it has filed nine new patent applications. Owlstone filed patent applications for components of the Owlstone Sensor, a nano-fabricated chemical detection system. Owlstone Nanotech is a subsidiary of Advance Nanotech, Inc. (OTCBB:AVNA).

Owlstone is developing a revolutionary micro-machined gas sensor which, with its associated electronics and software, provides an analytical instrument on a chip, programmable for a range of analytes. The technology holds significant promise for the cost-effective detection of volatile organic compounds ranging from sarin gas to pre-combustion fire indicators. These are currently very difficult to detect and differentiate in an inexpensive manner using existing chemical sensors.

“Owlstone is advancing science, and clearing the way for a new generation of threat detection solutions”

"Owlstone is advancing science, and clearing the way for a new generation of threat detection solutions," said Stephanie Interbartolo, SVP of Business Development at Advance Nanotech. "Advance Nanotech is very pleased with the progress that the company has made in continuing to push the boundaries of technology."

This is the third set of patent applications filed by Owlstone in the past 18 months, bringing the total number of patent applications to thirteen. The increasing number of patent applications reflects the company's rapid progress in developing leading-edge micro- and nano- fabrication techniques to create a chemical detection system one hundred times smaller and a thousand times cheaper than existing technology. Owlstone Nanotech partners with market leaders to integrate its technology into a wide range of commercial applications to allow the efficient and accurate detection of various chemical agents including contaminants, chemical warfare agents and potentially harmful gases.

About Owlstone Nanotech, Inc.

Owlstone Nanotech is a pioneer in the commercialization of nanotechnology-based chemical detection products. Its initial commercial product, The Owlstone Detector, is a revolutionary dime-sized device that can be programmed to detect a wide range of chemical agents that may be present in extremely small quantities. Using leading-edge micro- and nano- fabrication techniques, Owlstone has created a complete chemical detection system a hundred times smaller and a thousand times cheaper than existing technology. There are numerous applications -- across industries from security and defense to automotive and healthcare -- that depend on the rapid, accurate detection and measurement of chemical compounds. Owlstone works with market leaders within these applications to integrate the detector into next generation chemical sensing products and solutions. Owlstone's technology offers a unique combination of benefits, including small size, low manufacturing costs, minimal power consumption, reduced false-positives, and a customizable platform. For more information on Owlstone Nanotech, please visit www.owlstonenanotech.com.

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 23 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.

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Shonna Anderson, 415-623-2076 (Public Relations)
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Cormac Glynn, 212-732-4300 (Investor Relations)
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