Global Matrechs, Inc. Provides Business Update

Global Matrechs, Inc. http://www.globalmatrechs.com
(OTCBB: GMTH) today provided an update on the status, progress and
prospects of various aspects of its business.
   Global Matrechs's licensed technology portfolio includes
next-generation technologies that provide advanced safety and storage
solutions for the nuclear, environmental and chemical industries.
Global Matrechs' intends to direct these technologies to serve the
Homeland Security sector. The company is also exploring the
possibility of strategic acquisitions or technology transfers for
businesses or products currently generating revenues and complimentary
to the licensed NuCap(TM) (nuclear storage and containment) and HNIPU
(non-toxic polyurethane) technologies. The company is also considering
opportunities in the non-lethal weapons sector. For full details on
the company's diverse licensed technologies, visit
www.globalmatrechs.com.

   Current business developments include:

   --  Delivery of a pilot order for HNIPU
        (www.globalmatrechs.com/PHNIPU.html) to a Belgian company.
        Global Matrechs hopes to receive an update on the status of
        this company's evaluation of the product before year end.

   --  Delivery of a pilot order for NuCap(TM)
        (www.globalmatrechs.com/PNCAP.html) to Siemens. Global
        Matrechs expects Siemens to complete its evaluation of the
        product by year end. Global Matrechs expects to be present for
        this important test in a nuclear power plant in Germany.
        Siemens manages many nuclear power plants Germany and France.

   --  Global Matrechs plans to meet with the new management company
        responsible for the Hanford nuclear site in Washington State.
        We expect this meeting to take place during November. We have
        a small amount of inventory of NuCap(TM) at the facility and
        hope it will be used by this management group.

   --  Global Matrechs is in the final process of negotiating a
        master manufacturing agreement for all of its commercial
        manufacturing of NuCap(TM) with Dow Corning. We hope this will
        be completed by year end.

   --  Global Matrechs is in negotiations with Global Demolition for
        representation of NuCap(TM) with a non-exclusive agreement for
        the eastern part of the United States. Global Demolition is
        working on many new possibilities for the use of NuCap(TM) in
        non-nuclear demolitions.

   --  Global Matrechs is in negotiations for the encapsulation of
        over 2000 drums of a poison that are leaking into the ground.

   --  Global Matrechs is in negotiations for the encapsulation of
        181 tanks with nuclear waste.

   --  Global Matrechs is in negotiations with a German company for
        non-exclusive marketing and distribution rights for NuCap(TM)
        to eastern European governments, with a particular focus on
        the Ukraine and the Chernobyl site.

   About Global Matrechs: www.globalmatrechs.com

   Since the sale of substantially all of the assets of the company's
hosting and website maintenance business to Tulix, Global Matrechs has
operated its 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.

   "Forward-Looking Statements"

   Investors are cautioned that certain statements contained in this
document, as well as other statements in periodic press releases and
some oral statements of Global Matrechs, Inc. officials during
presentations, are "forward-looking" statements within the meaning of
the Private Securities Litigation Reform Act of 1995 (the "Act").
   Forward-looking statements include statements which are predictive
in nature, which depend upon or refer to future events or conditions,
or which include words such as "expects", "anticipates", "intends",
"plans", "believes", "estimates", "hopes," "seeks," or similar
expressions. In addition, any statements concerning future financial
performance (including future revenues, earnings or growth rates),
ongoing business strategies or prospects, and possible future actions,
which may be provided by management, are also forward-looking
statements as defined by the Act.
   Some of the factors that could significantly impact these
forward-looking statements in this press release include, but are not
limited to: insufficient cash flow to continue to fund the development
and marketing of the Company's products and technologies; the failure
of the Company's products and technologies to become commercially
marketable; the loss of key personnel; changes in financial markets
and general economic conditions; and, disputes as to the Company's
intellectual property rights, including the Company's rights to the
technologies that it licenses from Eurotech, Ltd. Forward-looking
statements are based upon current expectations and projections about
future events and are subject to risks, uncertainties, and assumptions
about Global Matrechs, its licenses, products, economic and market
factors and the sectors in which Global Matrechs does business, among
other things. These statements are not guarantees of future
performance and Global Matrechs has no specific intention to update
these statements. More detailed information about those factors is
contained in Global Matrechs's filings with the Securities and
Exchange Commission.