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Neah Power Announces New Board

SEATTLE, WA – April 3, 2006
Neah Power Systems, Inc., a Nevada corporation (formerly, Growth Mergers, Inc., (Pink Sheets: NPWS) and its Neah Power Systems (Washington) subsidiary, announced here today their new board of directors and senior executive management team, consisting of the following individuals:

Paul Abramowitz, President and Chief Executive Officer, Vice Chairman and Director. Mr. Abramowitz is a professional corporate manager and entrepreneur. He has been a long-time private investor in numerous technology businesses. He recently served as the CEO of the Experience Music Project, an interactive music museum located in Seattle, co-founded by Microsoft Co-Founder Paul G. Allen. Prior to that position, he was the Interim CEO of Etera, President and CEO of National Claims Management Corporation, President and CEO of Western Costume Company President and CEO of Infa, Inc. and Vice President and CFO of Berkeley Bio-Medical, Inc. Mr. Abramowitz holds a Masters in Business Administration from the University of Southern California and a Bachelors Degree in Business Administration form Ohio State University.

Dr. Daniel Rosen, Chairman and Director. Dr. Rosen represents Frazier Technology Ventures where he is a managing partner and co-founder. He served in several executive posts while at Microsoft, including General Manager of New Technology at Microsoft Research and General Manager, MSN Network. Earlier in his career, Dr. Rosen was the VP and general manager of AT&T’s first consumer Internet offering. Dr. Rosen has a B.A. in biology from Brandeis University and a Ph.D. in biophysics from University of California, San Diego.

Leroy Ohlsen Chief Technology Officer and Director. Mr. Ohlsen co-founded Neah Power Systems in 1999 to follow his passion for fuel cell technology developed during undergraduate studies. Previously, he worked as a Project Manager for MultiChem Analytical Services, an environmental testing laboratory. Mr. Ohlsen worked part-time throughout college at MDS Panlabs as part of the chemistry team. Leroy received a B.S. degree in Chemistry from the University of Washington in 1998.

Michael F. Solomon, Director. Mr. Solomon is a partner in the law firm of Pillsbury Winthrop Shaw Pittman LLP specializing in tax and corporate transactions. Mr. Solomon is also a long-time private investor in numerous businesses on whose boards he has served. His practice has been heavily concentrated in the technology and research and development sectors, and he has been specifically involved in cases addressing fuel cell technology. He is an Adjunct Professor of Law at the Georgetown University Law Center and an honors graduate of both Yale University (1974) and Harvard Law School (1977).

Roger Walton, Director. Mr. Walton is a principal partner in Castile Ventures, a private venture capital firm. Mr. Walton has an investment focus on communications application and subsystem businesses and currently serves on the board of Sandbridge Technologies and previously for Quantiva (acquired by NetScout, NASDAQ: NTCT) and at Stargus (acquired by C-COR, NASDAQ:CCBL). Prior to joining Castile, Mr. Walton advised start-up and established businesses, both solution vendors and service providers, on market, product/service and partnership strategies. Mr. Walton holds an MA in Mathematics from Oxford University and is a strategic advisor to Ovum.

About Neah Power Systems

Based in Bothell, Washington, NEAH Power is a development stage company founded in 1999. It is seeking to develop direct methanol fuel cells using a patented, silicon-based design to provide long-lasting, efficient, and safe power solutions for mobile electronic devices, in consumer, commercial and military applications.

Neah Power Systems, Inc. (Nevada) issued a total of approximately 30,000,000 shares of its common stock in connection with its March 9, 2006 acquisition of its Neah Power Systems (Washington) subsidiary, as a result of which there are currently a total of 35,481,520 shares of Company common stock outstanding, excluding an additional 66,174,867 shares of common stock issuable upon conversion of outstanding convertible notes and convertible preferred stock.

Neah Power Systems, Inc. is in the process of completing an audit of the financial statements of its Neah Power subsidiary and intends, as soon as practicable, to file with the Securities and Exchange Commission appropriate documents to fully disclose, among other things, the terms of the merger transaction consummated on March 9, 2006, the NEAH Power business, financial condition, management and relevant risk factors. The Company will seek to register its common stock under the Securities Exchange Act of 1934, as amended, and will also seek to list its common stock for trading on the NASD OTC Bulletin Board. However, there can be no assurance that the SEC will approve such filing or that the Company's common stock will be approved for listing on the OTC Bulletin Board.

For More Information

For press inquiries or additional information, please email ir@neahpower.com.