January 10, 2000 - New York City -- Manhattan Scientifics, Inc. (OTC BB: MHTX) announced today that it anticipates that the letter E will be temporarily attached to the company's trading symbol later this week in accordance with Nasdaq requirements. On Dec. 7, 1999, the company filed its Form 10-SB with the Securities and Exchange Commission (SEC) containing audited financial statements in order to comply with Nasdaq requirements regarding continued listing on the Over The Counter Bulletin Board. The company is awaiting SEC comments with respect to such filing.

On January 4, 1999, the SEC ratified amendments to NASD rules 6530 and 6540 restricting OTC Bulletin Board listing and quotation to the securities of companies that report current financial information to the SEC, insurance or banking regulation authorities. At the time of the December filing, the company stated that for it to comply with the new NASD eligibility requirements, and continue to be listed on the OTC Bulletin Board, the SEC must come to a position of "no further comment" on the Form 10-SB filing by February 9, 2000.

Management is hopeful that once the process is completed, with any and all SEC comments and questions answered, the company will continue its listing on the Bulletin Board exchange. If for any reason the SEC review and comments are not completed before February 9, 2000, the company expects to be temporarily de-listed from the Bulletin Board exchange and to trade on the electronic "Pink Sheets" marketplace until such time as all SEC comments are satisfied. Thereafter, the company will be automatically re-listed on the Bulletin Board exchange within 48 hours. Pink sheet quotes and last sale information are readily available from a variety of brokers and on the Internet.

Marvin Maslow, CEO of Manhattan Scientifics, said, "I endorse the SEC's effort to remove non-reporting companies from the Bulletin Board exchange. Once completed, only reporting companies will trade on the exchange and it will be a safer and far more confidence-inspiring place to invest. Our company retains top quality legal and audit firms to insure our full and complete compliance with regulations. We want to create full investor confidence in our financial statements, which are a measure of our progress. Our ultimate goal is to list on the Nasdaq exchange. Counsel has advised us that we are approaching qualification to apply for listing on Nasdaq. In any case, we do not believe this current matter represents any material threat to our company and should be regarded as a small bump in the road as we move the company forward."

The company's lawyers Orrick Herrington & Sutcliffe, LLP (Lawrence Fisher, Esq.) and its auditors are Richard A. Eisner & Co. LLP, (Ralph Anderson, CPA).

Manhattan Scientifics, Inc. is developing and commercializing proprietary technologies in the advancement of consumer and commercial electronics including MicroFuel Cell technology and holographic media for data storage and Internet-based image management. Manhattan Scientifics’ research headquarters is located in Los Alamos, NM. Copies of Manhattan Scientifics press releases, current quotes, stock charts and other information for investors may be found on the websites www.mhtx.com and www.hawkassociates.com. For further information contact Manhattan Scientifics CEO Marvin Maslow (212) 752-0505. Manhattan Scientifics’ business address is 641 5th Avenue, New York, N.Y. 10022.

The foregoing press release contains forward-looking statements, including statements regarding the company's expectation of its future business. These forward-looking statements are based largely on the company's expectations and are subject to a number of risks and uncertainties, certain of which are beyond the company's control. Actual results could differ materially from these forward-looking statements as a result of a variety of factors including the taking public of New Mexico Software, successfully completing the research and development with respect to the MicroFuel Cell and other technologies, successfully commercializing the MicroFuel Cell and holographic storage devices for mass production, successfully protecting the company’s patents, and effective significant industry competition from various entities whose capabilities far exceeds the company’s. In light of these risks and uncertainties there can be no assurances that the forward-looking statements in this press release will in fact transpire or prove to be accurate.