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HIENERGY OPENS NEGOTIATIONS IN SPAIN

HiEnergy Technologies, Inc. Opens Negotiations with Spanish Investors in Preparations for Testing of CarBomb Finder TM at Madrid International Airport

IRVINE, CA, December 9, 2003 - HiEnergy Technologies, Inc. (OTC Bulletin Board: HIET) is pleased to announce that a delegation of HiEnergy’s management, including Chairman, CEO and Chief Scientific Officer Dr. Bogdan C. Maglich, has opened a first round of talks in Madrid for a potential $5 to $10 million investment in the company, in exchange for exclusive sales and marketing rights in Europe. The group of Spanish investors consists of two banks and several industrial companies.

The delegation of HiEnergy management is also currently conducting technical talks with the Directorate of Spanish Airports and Navigation, AENA (Aeropuertos Espanoles y Navegacion Aerea), a Spanish aviation security agency, as well as with the Agency of Nuclear Security of Spain, in preparation for the tests of its CarBomb Finder at the Madrid Barajas Airport.

AENA officials visited HiEnergy’s test site in California this past September for a demonstration of the CarBomb Finder. As a result of this successful demonstration, AENA officials signed a Memorandum of Understanding to form a collaborative effort with HiEnergy Technologies, Inc. to use HiEnergy’s Stoichiometer TM technology to improve the security of Spain’s airports. The Memorandum of Understanding provided for the conduction of tests at Madrid Barajas Airport, prior to any decision in regards to purchasing the CarBomb Finder.


“Spain has been plagued by car bombs for the past two decades. We know that our technology can provide a unique solution to this problem”, said Dr. Bogdan C. Maglich. “Our policy is to establish foreign partnerships for each of the 10 main economic areas of the world, as well as for each of the 8 different commercial applications of HiEnergy’s Stoichiometer technology.”
HiEnergy’s Stoichiometer, used in the CarBomb Finder, is a remote detector of bombs in trunks, seats and engines of parked or moving vehicles. The Stoichiometer is the only known device that can obtain the chemical formulas of substances through steel non-invasively and on-line. The False Alarm Eliminator is a version of the Stoichiometer that will be used in tandem with x-ray detectors to non-invasively confirm or deny whether or not a suspicious object sighted in passenger luggage by conventional scanning machines is, in fact, an explosive. This product offers a safe alternative to invasive hand-searches. Successful tests of the CarBomb Finder will prompt discussions for a similar testing strategy of this False Alarm Eliminator system.