Manhattan Scientifics, Inc. Announces Exclusive License with Carpenter Technology Corporation

Carpenter Plans to Manufacture & Market Super Strong Metals Utilizing the
Patented Manhattan System
LOS ALAMOS, N.M. and READING, Pa.--(Business Wire)--
Manhattan Scientifics, Inc. (OTCBB: MHTX) announced the signing of a contract
with Carpenter Technology Corporation (NYSE: CRS), wherein Carpenter will fully
develop, manufacture and market a new class of high strength metals under an
exclusive license from Manhattan Scientifics and the Los Alamos National
Laboratory. The contract includes minimum annual payments to Manhattan
Scientifics during a 4-year period, together with royalty payments as a percent
of gross sales.

Manhattan Scientifics previously acquired the exclusive perpetual U.S. license
to a family of patents that have been developed by scientists at the Los Alamos
National Laboratory and in Russia.

The proprietary process will enable super-strength metals and alloys to make
products that weigh far less than in the past and without significant cost
premiums. A patented new form of titanium metal originally developed by Russian
scientists, in concert with scientists at the Los Alamos National Laboratory, is
expected initially to significantly improve medical prosthetics. Studies have
shown that bone integrates with these new metals up to 20 times faster than with
conventional metals. In December 2008, FDA approval was received for the $2
billion dental implant market. Carpenter is studying and considering other
applications, including the transportation industry, where stronger, lighter
metals may impact fuel economy.

"Carpenter continues to forge ahead as the leading developer of stainless steels
and specialty alloys," said Anne L. Stevens, Carpenter`s chairman and chief
executive officer. "Our relationship with Manhattan Scientifics will ultimately
give us new, cutting-edge manufacturing techniques that we can apply to many of
our alloys to service an increasing global need for high strength materials."

Manny Tsoupanarias, Manhattan`s CEO, said, "Carpenter Technology Corporation, a
billion dollar multi-national organization, is exactly the kind of manufacturing
partner we were looking for to bring our superior ultrafine grain metals to
market throughout the world." CEO Tsoupanarias continued, "The contract will
provide quick and sustained revenue to Manhattan Scientifics. Moreover, we
anticipate positive cash flow, reliable revenue and profitability during the
next 12 months. This is a major breakthrough for our 8,600 shareholders."

Marvin Maslow, Manhattan`s Chairman Emeritus, said, "Under Manny Tsoupanarias`s
leadership, Manhattan Scientifics has re-invented itself. We have now
demonstrated the efficacy of our business model by partnering with Carpenter.
Manhattan`s objective has always been to identify and `partner` with industrial
manufacturers and marketers. The Carpenter relationship will become the tipping
point to our success."

In addressing Manhattan Scientifics, Mr. Maslow said, "We continue to be in
close contact with brilliant scientists employed at the U.S. government`s
multi-billion-dollar national security laboratories, who are developing
disruptive, sea-change technologies. Manhattan`s goal is to show them the
commercial path, provide them the capital, the courage and leadership under
partnership arrangements with us. Manhattan will continue to demonstrate its
ability in this respect, and plans to repeat the Carpenter-type experience with
other large industrial corporations in other technical areas as it moves forward
to create significant profit for its shareholders."

About Manhattan Scientifics, Inc.:

Manhattan Scientifics` business model capitalizes on inventions and technology
from which profits may be earned primarily through licensing. Operations include
identifying, developing, patenting, supporting and marketing technical
innovations by harvesting top technology talent to bring game-changing
technology to the market. Manhattan`s science team includes technology leaders
like Dr. Martin Cooper, inventor of the cellular telephone, Dr. Arthur Kaufman,
founder of H-Power, Dr. Terry Lowe, nano-science pioneer, and Donald Sandstrom,
a 42-year veteran of the Los Alamos National Laboratory and a Materials Science
expert. Information about Manhattan Scientifics can be found on the Internet at
www.mhtx.com.

About Carpenter Technology Corporation:

Carpenter Technology Corporation (NYSE:CRS), based in Wyomissing, Pa., produces
and distributes specialty alloys, including stainless steels, titanium alloys
and superalloys, and various engineered products. Information about Carpenter
Technology can be found on the Internet at www.cartech.com.

Safe Harbor Statement:

This press release contains projections of future results and other
forward-looking statements that involve a number of risks and uncertainties and
are made pursuant to the Safe Harbor Provisions of the Private Securities
Litigation Reform Act of 1995. Important factors that may cause actual results
and outcomes to differ materially from those contained in the projections and
forward-looking statements included in this press release are described in our
publicly filed reports. Factors that could cause these differences include, but
are not limited to, failure to realize projected revenues and cash flows,
inability to raise capital and market conditions that negatively affect the
market for our technology. The Company disclaims any responsibility to update
any forward-looking statements.

Investor Relations Contact:
Premier Media Service Inc.
Kelly Black or Heather Mund, 480-649-8224
kblack@premiermediaservice.com
hmund@premierfundingservice.com
or
Manhattan Scientifics, Inc.
Marvin Maslow, Director of Investor Relations, 917-923-3300
Marvin@MarvinMaslow.com
or
Institutional Investor Relations:
Hawk Associates, Inc.
Frank Hawkins, 305-451-1888
Email: Fhawk@hawkassociates.com
Website: http://www.hawkassociates.com

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