Applied Nanotech, Inc. Forms Team To Produce 25-Inch Diagonal Full Color CNT TV

Austin, Texas – September 30, 2003 – Nano-Proprietary, Inc. (OTCBB: NNPP) announced that its subsidiary Applied Nanotech, Inc. (ANI) formed a team with prominent Japanese display component manufacturers to produce a 25 inch diagonal full color CNT TV prototype. The purpose of this effort is to demonstrate that carbon nanotube (CNT) TVs in field emission mode have progressed enough to enable high volume manufacturing.

Recent technical breakthroughs in ANI's CNT laboratories, as announced in the ANI press release of September 22, 2003, facilitated the team formation. Each team member will focus on its specific expertise to provide a component at its own cost according to ANI's design for the 25-inch full color CNT TV prototype. Key display component manufacturers in the fields of CNT manufacturing, printing techniques, providers of key components for the plasma and CRT industries, fine dispensing technologies, vacuum sealing equipment, one of the largest glass substrate manufacturers for displays and others have agreed to be team members. The names of the individual team members remain confidential for competitive reasons.

The program kicks off October 1, 2003 with the goal of presenting a 25-inch full color CNT TV by late spring of 2004. The critical and the most important steps related to the processing of the carbon nanotubes films will be executed by ANI in Japan. The program in Japan will be lead by Mr. Charlie Kasano, an experienced and reputable display specialist in Japan, formerly with Ise/Noritake. The resolution of the display will be compatible with a 60 inch or larger, HDTV format display that is the target product.

"In my experience, the real breakthroughs in the display industry were made by display component makers before the large companies decided to move into full-scale manufacturing." said Dr. Zvi Yaniv, President and CEO of Applied Nanotech, Inc. "We decided to take the same path and demonstrate the viability of CNT TVs in such a way as to accelerate commercialization," continued Dr. 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 byrisk 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 the field 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

Company Contact:
Doug Baker
Applied Nanotech Holdings, Inc.

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