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OTC Stock Review Issues Report On Neah Power Systems, Inc.

May 30, 2007

ATLANTA, May 30, 2007 (PRIME NEWSWIRE)—OTC Stock Review announces that it has initiated coverage of Neah Power, Inc. (OTC BB:NPWS.OB – News). Neah Power Systems, Inc., headquartered outside of Seattle in Bothell, Washington, is a micro fuel cell development company that owns 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.

Neah Power Systems, Inc. recently announced that its secondary offering undertaken pursuant to it’s underwriting agreement with Empire Financial Holdings (AMEX:EFH – News) had been completed. The total gross proceeds were approximately $6,765,438. Now that the offering is complete and the quiet period is over, in our opinion, NPWS is in a position to execute on its business plan.

Neah Power Systems, Inc. is developing the use of porous silicon matrix technology (a silicon application similar to microchips) to create miniature fuel cells (electric generated at normal temperatures directly by chemical combination). The Neah technology offers the possibility of replacing disposable and rechargeable batteries in portable electronic devices with fuel cells that only require replenishment of methane, allowing continuous use completely apart from the power grid, and without the weight and bulk of carrying spare batteries. Neah has obtained a series of patents and has patent applications pending to completely control this disruptive technology. Originally funded in 1999 by the large venture capital firms Alta Partners, Frazier Technology Ventures, Castile Ventures, WestAM and Intel Capital to perfect the technology, the company is now entering the product development stage.

The complete report is available at http:\\www.otcstockreview.com\Files\NPWS\NPWS_Review.pdf.

NOTE: The purpose of this release is to introduce the reader to OTCStockReview.com and Neah Power Systems, Inc. OTC Stock Review is not a Registered Investment Advisor or a Broker/Dealer. Information and opinions presented in this release are solely for informative purposes and not intended, nor should they be construed as, investment advice. This document contains information obtained from public sources about Neah Power Systems, Inc., but does not contain all the relevant material information necessary to evaluate the company. This release is not to be considered an offer to buy, sell, hold, and/or otherwise trade in the securities of Neah Power Systems, Inc., as profiled. Officers, directors, and employees of OTC Stock Review, may hold a long equity position of a profiled Company and may trade in these securities for their own accounts. Carefully review profiled companies with your investment advisor, stockbroker, or other such professional. OTC Stock Review is not liable for any investment decisions by its readers or their advisors. Any analysis contained herein does not purport to be a complete analysis of the profiled companies. Readers are encouraged to obtain copies of the profiled Company’s periodic reports filed with United States Securities and Exchange Commission, which are generally available at http:\\www.sec.gov. You can view our complete disclaimer at http:\\www.otcstockreview.com\disclaimer.htm

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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