Nano-Proprietary, Inc. And NanoReady Ltd. Announce Strategic Alliance To Commercialize Metallic Nanoparticles

Austin, TX and Caesarea, Israel – May 15, 2008 – Nano-Proprietary, Inc. (OTC BB: NNPP), through its subsidiary, Applied Nanotech, Inc. (ANI), and NanoReady Ltd. of Israel announced a strategic alliance for the manufacturing in volume metallic nanoparticles using NanoReady's wet chemistry process.

The initial focus of the strategic alliance will be volume production of copper nanoparticles to be utilized on a worldwide exclusive basis by ANI and its partner in Japan (a leading industrial chemical products company, see the press release of October 1, 2007) for producing inkjettable copper inks for the flexible electronics, solar cell, digital printed circuit board (PCB) and many other industries.

The current agreement with NanoReady is highly important due to ANI's fast progress in developing inkjettable copper inks. Based on this progress ANI and its partner in Japan decided that it would be important to secure volume production of copper nanoparticles and, in the future, other metallic nanoparticles for their metallic ink products.

"We are very pleased to cooperate with NanoReady and develop our products based on their proprietary wet chemistry process that is inducible to high volume production of copper nanoparticles required for our ink products," said Dr. Zvi Yaniv, president and CEO of ANI. Ronen Frish, NanoReady's CEO, adds: "The cooperation of our two companies opens a broad range of new opportunities within the ink industry and will lead to opportunities in additional industries."

About Nano-Proprietary, Inc.

Nano-Proprietary, Inc. is a holding company consisting of two wholly owned operating subsidiaries. Applied Nanotech, Inc. is a premier research and commercialization organization dedicated to developing applications for nanotechnology with an extremely strong position in the fields of electron emission applications from carbon film/nanotubes, sensors, functionalized nanomaterials, and nanoelectronics. Electronic Billboard Technology, Inc. (EBT) possesses technology related to electronic digitized sign technology. The Companies have over 250 patents or patents pending. Nano-Proprietary's business model is to license its technology to partners that will manufacture and distribute products using the technology. Nano-Proprietary's website is www.nano-proprietary.com.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties concerning Nano-Proprietary's business, products, and financial results. Actual results may differ materially from the results predicted. More information about potential risk factors that could affect our business, products, and financial results are included in Nano-Proprietary's annual report on Form 10-K for the fiscal year ended December 31, 2007, and in reports subsequently filed by Nano- Proprietary with the Securities and Exchange Commission ("SEC"). All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval System (EDGAR) at www.sec.gov or from Nano-Proprietary's website listed below. Nano-Proprietary hereby disclaims any obligation to publicly update the information provided above, including forward-looking statements, to reflect subsequent events or circumstances.

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

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