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Neah Power Approved to Be Quoted on the OTC Bulletin Board

January 26, 2007

SEATTLE—(BUSINESS WIRE)—Neah Power Systems, Inc., a Nevada corporation (OTCBB:NPWS – News) is pleased to report it has received notice of approval for its shares of common stock to be quoted on the OTC Bulletin Board (OTCBB), effective today. The Company stock symbol will remain as NPWS.

Paul Abramowitz, Neah’s President and CEO says, “This approval for trading on the OTCBB should improve the liquidity of our stock by increasing our visibility to a much broader range of investors and shareholders, and by offering increased access to continued corporate visibility. This is one of a number of significant milestones that we have achieved since going public in March of last year. We are pleased to have completed this task, and it goes without saying that we would like to thank all of our shareholders for their continued support during this process.”

The OTCBB is a regulated quotation service that displays real-time quotes, last sale prices and volume information in over-the-counter equity securities. OTCBB securities are traded by a community of registered market makers that enter quotes and trade reports through a computer network. Information regarding the OTCBB, including stock quotes, can be found at http://www.otcbb.com.

About Neah Power Systems

Neah Power Systems is a micro fuel cell development company using a patented, silicon-based design to provide long-lasting, efficient and safe power solutions for portable electronic devices, including notebook PCs and other power-hungry computer, entertainment, and communications products. As an emerging leader in fuel cell technology and design, Neah Power Systems believes that its products will allow users to extend the operating time of their devices multiple times beyond that of conventional batteries. Key investors include Alta Partners, Frazier Technology Ventures, Castile Ventures, WestAM and Intel Capital. Neah Power Systems is headquartered just outside of Seattle in Bothell, Washington. Further company information can be found at our Website www.neahpower.com and in the reports that we file with the Securities and Exchange Commission, which are accessible at www.sec.gov.

Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes,” “belief,” “expects”, “intends”, “anticipates”, “will”, or “plans” to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’’s reports and registration statements filed with the Securities and Exchange Commission.

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