Redwood Group International (RDWD): MTTG had news the other day, had a littl...

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Thursday, 03/13/2008 1:57:40 PM

Thursday, March 13, 2008 1:57:40 PM

MTTG had news the other day, had a little update on China/SIVC
March 10, 2008 - 7:01 AM EDT

Electrochemical Fatigue Sensor System for Bridge Inspections Receiving Significant Interest

LOS ANGELES, March 10 /PRNewswire-FirstCall/ -- Material Technologies, Inc. (OTC Bulletin Board: MTTG) ('MATECH') recently issued a newsletter updating its shareholders on MATECH's business activities over the recent past and expected near-term activities. To summarize, in recent months interest in the Electrochemical Fatigue Sensor System (EFS) has been tremendous. The EFS can detect very small growing fatigue cracks on highway and railway bridges and similar structures that are subjected to repetitive loads, and has been utilized in over twenty field tests. The technology is well patented worldwide.

The Federal Highway Administration (FHWA) signed a contract with MATECH, purchasing equipment and training as part of their Steel Bridge Testing Program. They will use the EFS system in the laboratory and on actual bridges to find growing fatigue cracks. Following the completion of this program, the FHWA will recommend technologies for use on bridges for specific bridge problems. MATECH anticipates this will result in recommending EFS to all bridge owners across the country for use on fatigue cracks in steel bridges.

MATECH has an on-call contract with Pennsylvania, and is continuing to produce good results. The EFS System has been used on twelve bridges in that state to date. Further work orders are anticipated to be issued for the next inspection season. Interest also has been received from several inspection companies in Pennsylvania that wish to purchase EFS equipment as well as training and licensing, in order to execute these further work orders, with licensing fees payable to MATECH for each bridge inspected. One such company has already been trained at their own cost to help MATECH execute their on-call contract in 2008.

MATECH has recently completed an inspection contract with Massachusetts, and has met with officials at MassHighway to review the results and to discuss the use of EFS throughout their entire highway system. They have indicated a clear need for the EFS technology, and will furnish a list of bridges to be inspected this inspection season.

New York State has also recently contracted with MATECH to provide EFS inspection services on a high profile fracture-critical bridge. As a result of this initial inspection MATECH will be performing a follow up inspection, and NYSDOT is evaluating purchase of equipment, training for their engineers, and licensing in 2008.

MATECH completed an inspection of a fracture-critical bridge in West Sacramento, California, and have met with several high-ranking state and national officials including Lt. Governor Garamendi and the staff of Senator Boxer; these discussions focused on the use of EFS across the state and the country, respectively.

MATECH also formed a strategic alignment with a California-based independent testing laboratory, the Smith Emery Company. This company, over 100 years old, has 400 employees in California, and an office in China. Their engineers and technicians have already been trained at their cost to execute EFS inspection contracts in the western U.S. region.

Work completed with the New Jersey DOT last year has been verified by their engineers. As a result they want to continue using the EFS System to verify fatigue crack repair effectiveness on additional bridges in the state.

The Commonwealth of Virginia and State of Alabama have also requested EFS inspections. These will be executed in the first half of 2008. Several other states have requested inspections that will occur in the second half of 2008. Initial inspection contracts are expected this Spring with Ohio DOT and URS Engineers; confirmation to proceed from each of these organizations has been received. Additionally, MATECH is speaking with the several entities in China and Europe, and the Association of American Railroads plus the following state DOT's about setting up EFS inspections: Maryland, Hawaii, Louisiana, Mississippi, Montana, Texas, and Wyoming,

Proposals have been requested by Union Pacific Railroad and the Canadian National Railway. We will be proceeding with these inspections in the summer. Also, Proposals for service and equipment have been requested and subsequently submitted to several entities in Australia, with plans to execute by the end of the year. The contract would include training of their personnel, sale of EFS equipment, as well as the associated licensing fees for each bridge inspected using the EFS system.

Inspection service providers in other parts of the world are now requesting proposals for equipment and training. We have had interest from various countries including, most recently, Vietnam. MATECH's Chief Engineer, Dr. Brent Phares, P.E., recently returned from a trip to China to train representatives there who will be meeting with Chinese government officials and private company executives. Also, the company's COO, Marybeth Miceli, has been asked to speak at the World Nondestructive Testing Conference in Shanghai, China in August about EFS technology. Additionally, papers detailing the work performed with the EFS system have been accepted at numerous conferences worldwide for presentation during 2008.

In light of last year's bridge tragedy in Minnesota, bridge inspections have become a highly discussed and debated topic. Media outlets have been covering MATECH and the EFS system technology. Government officials in Washington, D.C. are actively discussing the best way to approach improving the U.S. system for already-mandated bridge inspections. All of the solutions involve using the limited available funds in a more efficient way. It is estimated that each state could save as much as $100M annually by making the right maintenance decisions at the right time. MATECH will continue to push the EFS system into the mainstream in order to promote public safety and fiscal responsibility.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This document includes forward-looking statements, as that term is defined in Sections 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934 as amended, intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Material Technologies or its management 'believes,' 'expects,' 'plans,' 'anticipates,' 'foresees,' 'forecasts,' 'estimates' or other words or phrases of similar import. Similarly, such statements in this document that describe the company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, economic conditions, and risk inherent in the operations of a company. Factors that could affect performance include, but are not limited to, those factors that are discussed in the company's most recent reports filed with the United States Securities and Exchange Commission (the 'SEC') available at http://www.sec.gov. We assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events or other factors.

For more information contact Robert M. Bernstein, CEO, at 310-208-5589, or http://www.matechcorp.com

SOURCE Material Technologies, Inc.

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