August 06, 2004 16:10:00 (ET)

NEW YORK, Aug 6, 2004 (BUSINESS WIRE) -- GEMZ Corp., (OTC: GMZP - News) announced today that Technology Review, MIT's Magazine of Innovative Technology devoted the cover story of its latest issue (Vol. 107 / No. 6) (http://www.technologyreview.com/articles/04/07/fairley0704.asp) to a discussion of the potential of solar power to keep cell phones and laptops recharged. This is the initial focus of International Nanotechnology Corporation (INC), the wholly-owned subsidiary of GEMZ Corp. INC has made forward progress towards develop a solar-powered solution for powering cellphones and laptop computers. INC previously announced that it had signed a letter of intent with Terra Solar Development Corp.(TSDC), a leading developer of photovoltaic and nanocell technology to acquire substantially all of its nanotechnology assets from a subsidiary of TSDC and to license certain photovoltaic assets as well. The solar-powered laptop and cellphone chargers will be the first products resulting from the planned combination.

Laptop and cellphone users everywhere need a cost-effective way to continually power or recharge their units without plugging them in. Previous products on the market use crystalline or polycrystalline silicon photovoltaic cells that just don't do the job, as they work only when they are recharged in direct sunlight. The INC products are believed to be the first to use PV Nanofilms, which combine thin photovoltaic films and nanotechnology so they can also work indoors in most lighting situations. Nanofilms have elements below 1000 and even below 100 nanometers. The National Science Foundation (NSF) defines nanotechnology as consisting of components and elements 1000 nanometers and under. (1 nanometer is one billions of a meter or 10 Angstroms).

Moshe Gluzman, an experienced Photovoltaic Engineer and entrepreneur was named President of INC. He was. formerly employed in a number of senior positions, including posts at National Patent Development Corp. and Israeli Aircraft Industries. Dr. Zoltan Kiss, upon completion of the acquisition of the assets of Terra Solar Development Corp.will become Chief Technical Advisor of INC. Dr. Kiss is a noted inventor, with over thirty patents to his credit.

Mr. Gluzman said, "These two planned new products are the first of what we expect will be a family of consumer products that utilize nanotechnology to provide cost-effective solutions to problems not previously solved with conventional technology and which have wide consumer application." I am delighted to be able to contribute my experience to this very exciting company."

The product is expected to be available for sampling in the fourth quarter of 2004. Pricing has not been announced but is expected to be very competitive with older, more limited solutions.

About GEMZ Corp.

GEMZ Corp. is a publicly traded company located in New York City. Its new corporate website is www.gemzcorp.net.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties. This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," "promise," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Other risks are reflected in GEMZ Corp.'s filings with the Securities and Exchange Commission.

Volume almost double 10 day avg....

Good pick.