New York City-- Manhattan Scientifics Inc. (MHTX) announced today that, in a court-approved transaction, it has acquired all 43 million shares and 10 million warrants of MHTX held by the SEC appointed Lancer Funds Trustee. Manhattan Scientifics completed a $1.1 million Private Placement, a portion of which enabled this transaction, thereby removing this overhang from the market.

The company is completing its audit and intends to regain its status as a fully reporting Bulletin Board listed company.

The foregoing press release contains forward-looking statements which are subject to risk and uncertainty which may be beyond the company's control.

About Manhattan Scientifics
Manhattan Scientifics is located in New Mexico and New York City and is developing technologies in the alternative energy fuel cell space.

Copies of Manhattan Scientifics’ press releases and related investor information may be found at http://www.hawkassociates.com and http://www.americanmicrocaps.com.

An investment profile about Manhattan Scientifics may be found at http://www.hawkassociates.com/mhtx/profile.htm.

Executive Contacts:

Marvin Maslow, CEO, Manhattan Scientifics (917) 923-3300.
Email:maslow@ix.netcom.com

Investor Relations Contact:
Frank Hawkins, (Hawk Associates) (305) 852-2383
Email: Info@hawkassociates.com