Prima Announces Nanotechnology Research and Development Agreement - News Item

Prima Developments Ltd. through its wholly owned subsidiary Envirocoat Technologies Inc. the global owner, producer and distributor of high performance paint and coating products, today announced it has entered into a research and development agreement with U.S. based Altair Nanotechnologies Inc.

Prima, in conjunction with Altair, will analyse how high surface area nanomaterial titanium dioxide (Ti0₂) products will help enhance the distinctive thermal barrier and moisture resistant properties of its Envirocoatings' Ceramic InsulCoat product, while providing Altair's added benefits of superior UV absorption. Prima will also evaluate how the addition of Altair's TiNano Spheres will help increase the insulation and hiding power capability of Prima's flagship product, Ceramic InsulCoat. The agreement facilitates the integration of Altair's Ti0₂ nanomaterials into Prima's Ceramic InsulCoat product line for initial testing and evaluation.

"Management is constantly exploring new ways to improve our products and enhance their functionality," said Roland Langset, President and CEO of Prima. "We believe our agreement with Altair will provide a unique opportunity for Prima to continue augmenting the many features and benefits of our product suite, specifically with regards to our Ceramic InsulCoat Exterior and our Ceramic InsulCoat Roof product lines. Nanotechnology has a number of applications and this collaboration with Altair reflects our commitment to driving the commercialisation of our products. We are excited to have established a relationship with a company that provides expertise in this new sector."

Posted 8^th April 2004