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Technology Stocks : Nanophase Technologies (NANX) -- Ignore unavailable to you. Want to Upgrade?

To: Obewon who wrote (175)	5/15/1998 8:41:00 PM
From: MStonek	Read Replies (1) \| Respond to of 322

Pacific Safety Products Inc. Announces R&D Agreement With Nanophase Technologies Corporation For Advanced Ballistic Material . . . KELOWNA, B.C., May 15 /CNW-PRN/ - Mr. Bradley Field, President and General Manager of Kelowna based PSP Inc. (ASE:PSP) has announced that they have reached a groundbreaking 3 year cooperative research and development agreement with Nanophase Technologies Corporation (Nasdaq:NANX:) to develop nanocrystalline ceramics for use in ballistic applications. Nanophase Technologies, based in Burr Ridge, Illinois, is the only company in the world that is able to manufacture significant quantities of this ceramic, which is expected to improve ballistic protection at a reduced weight. ''The potential for this product is massive, with the world armour market valued at hundreds of millions of dollars'' says Field, ''and this technology could provide us with a huge proprietary advantage in supplying this market''. PSP's research program will be supported with a grant of $250,000 from the Canadian Governments Department of Defense during the first year, which is indicative of the high level of interest the Military has in development of improved ballistic materials. SOURCE: Pacific Safety Products Inc. /CONTACT: Mr. Bradley Field, President and General Manager or Mr. Roger Soar, Vice-President Product Development (250) 491-0911, fax (250) 491-0930, email bfield(at)pacsafety.com, Web Site www.pacsafety.com/ (PSP.)