RENO, Nev., July 10, 2003 (PRIMEZONE) -- Altair Nanotechnologies Inc. (Nasdaq:ALTI) announced today that Jon N. Bengtson, a recognized leader in the electronics and technology industry, has accepted an appointment to the board of directors of Altair Nanotechnologies, Inc. In addition to Mr. Bengtson's appointment to the board of directors of Altair Nanotechnologies, he currently serves on the boards of a variety of companies and organizations including Radica Games Limited, where he is chairman of the board, and The Sands Regent Hotel Casino.
"Jon's experience with a number of successful start-up technology companies and companies in the public arena will be a valuable addition to our board's expertise as we gain momentum as a provider of nanomaterials and nano-based products in the emerging nanotechnologies sector," said Altair CEO Dr. William P. Long. "We will draw upon Jon's extensive business and financial expertise as we continue to penetrate existing markets while examining and identifying additional near- and long-term market potential for our patented nanomaterials and processes."
"Altair has, in a short period of time, made significant inroads within the pharmaceutical, pigment and alternative energy industries," commented Bengtson. "This is an exciting and pivotal point in the company's growth and I look forward to leveraging my 30 years of managerial and financial experience to further the success of the company."
Bengtson began his career with Harrah's, where he served for nine years in various management positions, including vice president of MIS. While with Harrah's, he participated in an IPO and secondary stock and debt offerings.
Bengtson joined International Game Technology in 1980 as vice president, CFO and director and was instrumental in their IPO. Bengtson was promoted to vice president of marketing in 1982, developing and implementing a long-term marketing plan, which included extensive product development. Bengtson left International Game Technology in 1984 to become vice president of finance and administration, CFO and director of the Sands Regent Hotel Casino. During the next nine years, he directed a successful IPO, completed a $16 million bank financing for casino development and created a corporate master plan. In 1993, he joined Radica Games Limited as executive vice president, CFO and director.
While at Radica, Bengtson directed a $78 million IPO, led the development of a major joint venture with Hasbro, Inc. and negotiated an OEM agreement with International Game Technologies. He was responsible for Radica's import operations, which totaled $140 million. In 1996, he rejoined the Sands Regent Hotel Casino as executive vice president and CFO and is currently serving on the Board of Directors of the company. Bengtson joined Sharegate, Inc. in 1998 where, among other accomplishments, he raised over $27.5 million. Additionally, he is the founder and CFO for Pinyon Technology, a start-up technology company developing wireless networking integrated circuits.
Mr. Bengston is active in community organizations and is on the board of directors of the National CMP and Step 2 & Lighthouse of The Sierra, and is a member of the University of Nevada, Reno, College of Business Advisory Board. Bengtson holds a B.S. in Business Administration and a Master of Business Administration from the University of Nevada, Reno.
ALTAIR NANOTECHNOLOGIES, INC.
Nanotechnology is rapidly emerging as a unique industry sector. Altair Nanotechnologies is positioning itself through product innovation within this emerging industry to become a leading supplier of nanomaterial technology and nanomaterials worldwide. Altair owns a proprietary technology for making nanocrystalline materials of unique quality both economically and in large quantities. The company is currently developing special nanomaterials with potential applications in pharmaceuticals, batteries, fuel cells, solar cells, advanced energy storage devices, thermal spray coatings, catalysts, cosmetics, paints and environmental remediation. For additional information on Altair and its nanoparticle materials, visit www.altairnano.com .
Forward-Looking Statements
This release may contain forward-looking statements as well as historical information. Forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the company's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, the possibilities that the company may be unable to attract additional customers, funded research opportunities, product development opportunities or ventures through its sales and branding campaign, that the company may never earn sufficient revenues to be profitable and that the company's nanoparticle products may not be integrated into any major market groups and products, in addition to other risks identified in the company's most recent Annual Report on Form 10-K, as filed with the SEC.
Such forward-looking statements speak only as of the date of this release. The company expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in company expectations or results or any change in events.