Neo Material Technologies Appoints Claire M.C. Kennedy to its Board of
Directors

TORONTO , Feb. 1 /CNW/ - Neo Material Technologies Inc. (TSX: NEM) (the "Company" or "Neo") announced today that it has appointed Ms. Claire M.C. Kennedy to its Board of Directors effective immediately. This appointment increases the total number of directors to eight, seven of whom are considered to be independent.

Claire Kennedy , a resident of Canada and tax partner in the Toronto office of Bennett Jones LLP, has for the past 13 years represented domestic and international clients and provided tax advice regarding acquisitions, financings, reorganizations, restructurings and the establishment of private equity and debt funds. Ms. Kennedy is also a Chemical Engineer and holds a Bachelor of Laws degree from Queen's University and a Bachelor of Applied Science degree in Chemical Engineering from the University of Toronto . In addition to her practice, Claire is a member of the Dean's Council at Queen's Law, Chair of the Advisory Board at the University of Toronto's Department of Chemical Engineering & Applied Chemistry, President of the University of Toronto's Engineering Alumni Association and Chair of its Biz Skule(TM) committee.

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, and other high value niche 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. Products from the newly acquired Recapture Metals Limited are primarily used in the wireless, LED, flat panel, solar and catalyst industries. The Company is headquartered in Toronto , Canada and has approximately 1,400 employees in 19 locations, across 10 countries.

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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]