Nano-Proprietary, Inc. Announces Patent Reissuance

Austin, Texas – September 17, 2003 – Nano-Proprietary, Inc. (OTC BB: NNPP) through its subsidiary Applied Nanotech, Inc. (ANI) announced the issuance of U.S. Patent No. RE38,223 E, formerly U.S. Patent No. 5,773,921 (see "Allowance" press release dated April 9, 2003).

"Although this was an expected result of our notice of allowance in April we are excited to add this "basic" carbon nanotube patent to our portfolio," said Marc Eller, Chief Executive Officer of Nano-Proprietary, Inc. "The issuance of "basic" patents is very rare and we feel fortunate to have one in a field we believe will be revolutionary and serve many applications, including displays," continued Eller.

Another example of a "basic" patent is the one covering the use of intermittent mode for windshield wipers. In this case, regardless of design, the mechanism, or manufacturing process, the users of the intermittent mode (i.e. automobile companies) must pay a royalty to the holder of the basic patent.

"The momentum is rapidly building toward having the first display manufactured using carbon nanotubes as companies worldwide are strengthening their "process" and "design" intellectual property (IP) through licensing, alliances, and patent applications of their own. In the end all this bodes well for the holder of the "basic" patent," said Dr. Zvi Yaniv, President of Nano- Proprietary, Inc. " I believe we have a lot to look forward to not only in the display field, but with any application where there is an emission of electrons from a carbon nanotube," continued Yaniv.

Safe Harbor Statement

This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Act of 1934, and is subject to the safe harbor created by those sections. The Company's actual results could differ materially from those projected in the forward-looking information. Future results may be impacted by risk factors listed from time to time in NPI's SEC reports. Nano-Proprietary, Inc. disclaims any intent or obligation to update forward-looking information.

Nano-Proprietary, Inc. is a holding company consisting of two wholly owned operating subsidiaries. Applied Nanotech Inc. is a premier research and development organization dedicated to developing applications for nanotechnology with an extremely strong position in thefield of electron emission applications from carbon film/nanotubes. Electronic Billboard Technology, Inc. (EBT) is geared toward its technology related to electronic digitized sign technology. Nano-Proprietary's website is www.nano-proprietary.com.

Company Contact:
Doug Baker
Applied Nanotech Holdings, Inc.
248.391.0612
dbaker(at)appliednanotech.net

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