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Press Release Source: Nanergy Inc.

Nanergy Inc. Announces the Appointment of Dr. Zoltan Kiss as President, Chief Executive Officer and Chairman
Wednesday August 3, 9:48 am ET
Dr. Kiss to Host Investor Conference Call on 8/15 at 12:00 PM EDT to Report on Current Status and Forward Momentum

NEW YORK--(BUSINESS WIRE)--Aug. 3, 2005--Nanergy Inc. ("Nanergy"), formerly ObjectSoft Corp. (OTC Other: NNGY, formerly OSFT) today announced that Dr. Zoltan Kiss, a world renowned scientist, has been appointed President, Chief Executive Officer and Chairman of the Board of Directors.

Dr. Kiss is one of the chief inventors of the digital watch, and has over 30 patents to his credit, including fundamental nanotechnology patents which were acquired by Nanergy when it purchased the nanotechnology assets of RES. Mr. Moshe Gluzman will remain with the company as Senior Vice President for Government Affairs and Corporate Secretary.

The Company will conduct an investor teleconference on August 15th at 12:00 PM EDT to update shareholders concerning the Company's current status, products, financing and strategic initiatives.

To access the conference, please dial 866-295-5950 and enter participant passcode 71056#. A recorded version of the conference will be posted on the Company's website at www.nanergyinc.com as soon as possible after the conference.

Management plans to conduct shareholder teleconferences on a regular basis update shareholders and potential investors.

Nanergy is entering the nanotechnology and alternative energy arenas - both areas of burgeoning growth as the world's energy crisis escalates and government's focus is on sources of fuel and energy and the demand for nanoscale devices is growing at 30.6% annually.

From an industry perspective, BCC Research reported that the total global demand for nanoscale materials, tools, and devices was estimated at $7.6 billion in 2003 and is expected to grow at an AAGR (average annual growth rate) of 30.6% to reach $28.7 billion in 2008. Comparing nanotechnology to other key emerging technologies, the global nanotechnology market, at about $7 billion in 2002, was roughly comparable in size to the biotechnology sector, but far smaller than the $800 billion global informatics market. However, the nanotechnology market is believed to be growing more than twice as fast as either of the other two.

About Nanergy Inc.

Nanergy Inc. is a developmental stage company headquartered in New York City, with offices in Princeton, NJ and in Hungary. Its focus is on developing exciting consumer products that harness nanotechnology, and especially photovoltaic nanofilms, while conducting ongoing research in storing hydrogen using carbon nanotubes. Its new corporate website is still being developed but is available for viewing at http://www.nanergyinc.com.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties. This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words ``may,'' ``would,'' ``will,'' ``expect,'' ``estimate,'' ``anticipate,'' ``believe,'' ``intend,'' ``promise,'' ``seeking to,'' ``negotiating to'' and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
Contact:

DeMonte Associates
Investors:
Cynthia DeMonte, 212-605-0525
[e-mail]
www.demonte.com


Source: Nanergy Inc.