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Global Matrechs, Inc. Provides Update on NuCap(TM) Radiation Encapsulation Material, to be Utilized by NUCON-RF, Inc for Chernobyl Shelter Implementation Plan; NUCON-RF, to Purchase an Annual Quantity of 250 Metric Tons of NuCap(TM)
Global Matrechs, Inc. (OTCBB: GBMR), http://www.globalmatrechs.com, a company with technologies in the nuclear, chemical and environmental sectors, announces that publicly traded NUCON-RF, Inc. (OTC: NNRF.PK) and ATOMSTROYEXPORT (``ASE'') have entered into an agreement under which NUCON-RF will become the project partner and supplier of NuCap(TM) radiation encapsulation technology under its sales agreement with Global Matrechs to ASE for the Chernobyl Shelter Implementation Plan (the "Plan"). NUCON-RF and ASE intend to convert Chernobyl's Reactor 4 into an environmentally safe site by utilizing the NuCap(TM) product.

NuCap(TM), a license owned exclusively by Global Matrechs, Inc, is a material that is highly resistant to radiation and corrosion. It has been engineered for use in a wide variety of applications in low to high level radiation and other environmentally challenging settings. NuCap(TM) applications range from in-situ stabilization, D & D, containment and encapsulation to transportation and final storage and disposal.

In its sales agreement with Global Matrechs, NUCON-RF estimates a potential need to purchase an annual quantity of 250 metric tons of NuCap(TM) from Global Matrechs which will be manufactured by Global's manufacturing partner, Dow Corning. NUCON-RF stated in a May 25, 2006 press release that it believes it may be able to quantify the quarterly revenues from the Plan during the second quarter of 2006. The Plan is estimated to continue through 2009. Other NuCap(TM) applications are currently under application engineering reviews by NUCON-RF and other parties.

Michael Sheppard, President of Global Matrechs, Inc. commented, "Our sales agreement with NUCON-RF potentially represents significant revenues for our Company once actual orders are placed. Our technology is currently on site and was used previously for a small scale application at the Chernobyl location, and it appears that the Chernobyl location is now ready for a larger scale implementation in conjunction with NUCON-RF and ATOMSTROYEXPORT."

About Global Matrechs: www.globalmatrechs.com Global Matrechs operates a licensed technologies business. Through its licensed technologies business, Global Matrechs seeks to convert the licenses it has acquired in emerging technologies in the nuclear energy, environmental and chemical industries into manufactured products primarily through sub-licenses of those technologies to manufacturers.