Neo Material Technologies Announces Expiry of Warrants

    TORONTO, Aug. 14 /CNW/ - (TSX: NEM.W) Neo Material Technologies Inc. (the
"Corporation") advises holders of the Corporation's warrants (the "Warrants")
issued on August 31, 2005 and exercisable into common shares at $2.50 per
share that the Warrants expire on August 31, 2008. Since August 31, 2008 is
not a business day, the Corporation has extended the deadline for exercise of
the Warrants to 5:00 pm (Toronto time) on September 2, 2008.
    To exercise the Warrants, Warrant holders should complete, execute and
deliver the exercise form attached to the Warrant certificate and surrender
the Warrant certificate and exercise form, along with a certified cheque, bank
draft, wire transfer or money order covering the total exercise price for the
shares being acquired, to Computershare Trust Company of Canada, the
Corporation's warrant agent, at the following address:

    Computershare Trust Company of Canada
    100 University Avenue, 9th Floor
    Toronto, Ontario M5J 2Y1

    In order to be accepted, the Warrant certificate, executed exercise form
and certified funds must be received by Computershare Trust Company of Canada
before 5:00 p.m. (Toronto time) on September 2, 2008. After such time, the
Warrants will be void and of no effect and will cease to be listed on the
Toronto Stock Exchange.

    About Neo Material Technologies

    Neo Material Technologies is a producer, processor and developer of
neodymium-iron-boron magnetic powders, rare earths and zirconium based
engineered materials and applications through its Magnequench and AMR
Performance Materials business divisions. These innovative products are
essential in many of today's high technology products. Magnequench's neo
powders are used to produce bonded magnets, generally used in micro motors,
precision motors, sensors and other applications requiring high levels of
magnetic strength, flexibility, small size and reduced weight. Rare earth and
zirconium applications include catalytic converters, computers, television
display panels, optical lenses, mobile phones and electronic chips. The
Company is headquartered in Toronto, Canada and has approximately 1,300
employees in 15 locations, across 10 countries.

    %SEDAR: 00002061E

For further information:

For further information: Michael Doolan, Chief Financial Officer, (416)
367-8588, ext.335, Website:, e-mail:; Ali Mahdavi, Investor Relations, (416) 962-3300, ext.
225, e-mail:

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