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Neah Power To Attend Intel Capital CEO Summit In Mumbai, Indi

May 19, 2006

SEATTLE, WA – May 19, 2006 - Neah Power Systems, Inc., a Nevada corporation (Pink Sheets: NPWS.PK), is pleased to report that Mr. Paul Abramowitz, the Company's CEO, will attend the seventh annual Intel Capital CEO Summit in Mumbai, India, May 23 - 26, 2006. The Summit is designed for Intel Capital portfolio company CEOs to have the opportunity to meet with Global 2000 industry executives as well as leaders from around the world to discuss new business opportunities for their company's products and services.

“Intel Capital has developed a tremendous lineup of presenters at this year’s CEO Summit,” said Paul Abramowitz, CEO of Neah Power Systems. “As an Intel Capital portfolio company, we are privileged for the opportunity to interact with globally diverse companies and meet key business leaders that will provide insight on global trends and business opportunities.”

Keynote speakers include Paul Otellini, president and CEO of Intel, and Scott Bayman, president & CEO of GE India. Anand Chandrasekher, senior vice president, sales and marketing, Intel Corp and CK Prahalad, distinguished professor of corporate strategy, University of Michigan.

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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