Neo Material Technologies Added to the S&P/TSX Composite Index

TORONTO, Dec. 13 /CNW/ - Neo Material Technologies Inc. (TSX: NEM) ("Neo" or the "Company") is pleased to report that Standard & Poor's has announced the addition of Neo to the S&P/TSX Composite Index, which will become effective at the opening of the market on Monday, December 20, 2010.

About Neo Material Technologies

Neo Material Technologies Inc. is a producer, processor and developer of neodymium-iron-boron magnetic powders, rare earths and zirconium based engineered materials and applications, and other rare metals and their compounds through its Magnequench and 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's rare metals products are primarily used in the wireless, LED, flat panel, turbine, solar and catalyst industries. The Company is headquartered in Toronto, Canada.

For further information: Michael Doolan, Chief Financial Officer, [phone], ext.335, Website: www.neomaterials.com, e-mail: [email protected]; Ali Mahdavi, Investor Relations, [phone], ext. 225, e-mail: [email protected]