FOR IMMEDIATE RELEASE
Technical Contact: Dr. Arthur Koschany, email: Novars@t-online.de

Executive Contacts: Marvin Maslow, US (212) 752-0505, (917) 923-3300 mobile, email: maslow@ix.netcom.com
Jack Harrod, (505) 662-0660, email: harrod@airmail.net

IR Contact: Frank Hawkins, Julie Marshall, Hawk Associates, Inc., (305) 852-2383, email: info@hawkassociates.com

New York City, December 7, 2000 - Manhattan Scientifics (MHTX) announced today that it has entered into an agreement with Aprilia, S.p.A., one of Europe's largest manufacturers of motor scooters and motorcycles, to develop a fuel cell powered concept bicycle. Aprilia unveiled the bicycle, a version of Manhattan Scientifics' Hydrocycle™ bicycle, this week at the Bologna Motor Show in Italy.

One of the best known and most respected makers of motorcycles and scooters in Europe, Aprilia also is well known throughout the world for its racing achievements. Aprilia said it is using the fuel cell technology developed by Manhattan Scientifics' European affiliate NovArs GmbH because of its significant weight and size advantages over other fuel cell technologies. The technology is ideal for supplying energy to electric drive systems in lightweight vehicles such as bicycles.

Manhattan Scientifics COO Jack Harrod said, "This is another step forward in bringing our fuel cell technology to market. Aprilia is one of Europe's leading and most respected companies in the motor scooter and motorcycle industry. They are an excellent partner to jointly develop a concept fuel cell bicycle and help us take the first serious steps to commercialization. If our initial effort together is successful, we are hopeful this could lead to a more extensive agreement with Aprilia."

Manhattan Scientifics CEO Marvin Maslow said, "During our first three years in business we have been acquiring technology, patenting, perfecting, prototyping and demonstrating unique technologies in alternative energy. Our focus is now shifting to revenue. We intend to capitalize on our inventions and patents. Our business model is to work closely in teaming relationships with world-class manufacturers like Aprilia and to bring product-to-market. Our intention and business plan is to participate with significant share of market in products powered by our fuel cell technologies. From personal communications devices such as cellular phones, laptops and PDA's to personal transportation including bicycles, scooters, golf carts, small boats and household devices including power tools, we intend to team with large manufacturers and distributors to bring remarkable new products to the market. Aprilia is the first step for us. We anticipate there will be many more."

The concept vehicle is similar to the Hydrocycle™ unveiled by Manhattan Scientifics earlier this year. It is based on an existing Aprilia electric bicycle and motor. Aprilia replaced its Ni-MeH battery system with the Manhattan Scientifics' power system consisting of NovArs' fuel cell, fuel source, pressure reducer and control electronics.

Aprilia also modified the mechanical styling features to accommodate the fuel cell system. The fuel cell uses hydrogen supplied from a two liter pressurized tank to provide 670 watts of power to the bicycle drive motor at ambient pressure, with minimum ancillary equipment. This is sufficient to give it a range of 70-100 km with one filling of fuel. Refilling takes only seconds compared with hours needed to recharge a battery. Aprilia said this approach also provides a significant reduction in the weight of the bicycle and in the operational range now provided by batteries. It also potentially lowers the cost of the system.

Manhattan Scientifics' unique mid range fuel cell technology (two watts to two kilowatts) is being developed by NovArs at its facility in Passau, Germany. The NovArs unique approach to fuel cell design uses advanced composite materials and sealing technology to minimize size and weight. This makes it ideal as a power source for portable electronic equipment. The technology is also applicable for motorized scooters, wheel chairs, industrial vehicles, small boats, golf carts, portable appliances such as cordless power tools and household utensils and lightweight portable power packs.

NovArs GmbH is a two-year-old German company founded to develop advanced fuel cells, materials and concepts. It was started in 1998 by Dr. Arthur Koschany, a scientist with six years experience in the development of large fuel cell systems for automotive applications. Manhattan Scientifics acquired both current and future global intellectual property rights to NovArs' unique technology in 1999. Manhattan Scientifics is providing R&D funding to NovArs to further develop its technologies.

Manhattan Scientifics, Inc. is a development company focused on various technologies including alternative energy, holographic data storage, water and gas filtration and computer and Internet enhancements. The company's development laboratories are located in Los Alamos and Albuquerque, NM and Passau, Germany. Its executive office is in New York City at 641 Fifth Avenue, Suite 36F, New York, 10022. 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.

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. These include but are not limited to, successfully completing the research and development with respect to the micro fuel cells and other technologies, successfully commercializing the fuel cells 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. NovArs GmbH, ERDI and Novint Technologies, Inc. are independent contractors to Manhattan Scientifics, Inc., which acquired and owns certain intellectual property of these companies. 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.