Altair Nanotechnologies Growing

August 20, 2002 [] Altair Nanotechnologies Inc. has purchased a 90,000-square-foot building currently housing its corporate offices, laboratories and nano-materials production facility from BHP Minerals International Inc. (“BHP”), a subsidiary of Australia-based BHP Billiton Limited, for US$3 million. Under the terms of the agreement, the first payment is due in 42 months; interest will begin to accrue in 36 months at 7 percent per year. Additional terms of the agreement cancelled a 3 percent royalty payment due BHP on all materials manufactured utilizing the technology purchased by Altair from BHP. Altair is currently developing special nano-materials with potential applications in pharmaceuticals, batteries, fuel cells, solar cells, advanced energy storage devices, thermal spray coatings, catalysts, cosmetics, paints and environmental remediation. (Nasdaq:ALTI)
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