Saarbrücken, August 29, 2008 - ItN Nanovation AG (ISIN DE000A0JL461) was able to realize dynamic growth in revenues of 43 percent in the second quarter of 2008 year-on-year. On the back of strategy adjustments the company was increasingly tuned to the business needs of the market and its future sustained success.

In the course of implementing these measures, the company´s balance sheet was adjusted, resulting in profit impacting one-timeeffects amounting to around EUR 2 million being accrued in the period.

Revenues in Q2 2008 increased to EUR 1.6 million. This is 43 percent higher than EUR 1.1 million recorded in the previous year's period. In the first six months of the year, revenues came in at EUR 2.8 million and exceeded the value of EUR 2.3 million from the previous year by around 24 percent. Profit impacting extraordinary one-time effects totaling approx. EUR 2 million were accrued due to testing valuations of balance sheet items such as own work capitalized, and as a result of negative impacts connected to changes in personnel. ItN Nanovation expects further negative impacts in the wake of repositioning to be minimal or non-existent. EBIT in Q2 2008 amounted to EUR -4.5 million after EUR -1.7 million in the prior year. For the first half year of 2008 it totaled EUR -6.4 million compared to EUR -3.2 million year-on-year. Net result for the period in Q2 2008 - impacted by one-time effects - added up to EUR -4.4 million compared to EUR -2.9 million in the prior-year. In the first half year, it amounted to EUR -6.3 million compared to EUR -4.4 million in the previous year´s period.

ItN Nanovation anticipates further dynamic growth along with improved results for the second half of the year. We also expect a continued increase in revenues for 2009 in the upper two digit percent region. Based on current business development there is a greater probability that the company will reach its forecast of breaking even in 2009. Alongside the already established product lines such as ceramic coating solutions from the Nanocomp family and the coatings for household ovens, we anticipate ceramic flat filter membrane systems and CFM Systems being the key growth drivers. In addition to the recent EUR 5 million order announced by CFM Systems from the Gulf region the company also has received further high-volume orders. ItN therefore expects exponential growth for 2009.

The complete report on the first half year 2008 is available for downloading at www.itnnanovation.com.

About ItN Nanovation:
ItN Nanovation AG is one of the leading nanotechnology companies in the world, developing innovative ceramic products, such as filtration systems and coatings, for large industrial customers. The nanoscale powder needed for those products is manufactured by the company itself. ItN Nanovation was formed in 2000 and currently has over 100 employees. The company's success is founded on an extensive patent portfolio, combined with comprehensive development and application know-how. For further information about the company, please visit www.itn-nanovation.com.

About Nanostart:

Nanostart AG is the world’s leading nanotechnology investment company. The Frankfurt-based company provides venture capital financing for nanotechnology companies in various growth phases. It also provides the benefits of its experience and expertise to developers of financial instruments and to investors in the nanotechnology sector. For further information about the company, please visit www.nanostart.de.

Disclaimer:

This notice constitutes neither an offer to sell nor a solicitation of offers to purchase or subscribe to securities. There will be no public offering of securities of Nanostart AG in conjunction with the existing listing of its shares in the “Entry Standard” segment of the regulated unofficial market (Freiverkehr) on the Frankfurt Stock Exchange. This notice does not constitute a securities prospectus. Neither this notice nor the information contained within is intended for direct or indirect distribution within the United States of America, Canada, Australia or Japan.

Media contact:

Nanostart AG
Public Relations
Dr. Hans Joachim Dürr
Goethestrasse 26-28
D-60313 Frankfurt
Germany
phone: +49 (0)69-21 93 96 111
fax: +49 (0)69-21 93 96 122
e-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it