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Neah Power Systems Announces Ongoing Strategic Partnership with Aspen Technologies

Aspen Technologies to provide high reliability microelectronic packaging and manufacturing solutions

July 15, 2008

Neah Power Systems, Inc., (OTCBB: NPWS - News), a leading developer of fuel cells for military, industrial and consumer portable electronic devices, announced today that it has an ongoing strategic relationship with Aspen Technologies to utilize their high-reliability semiconductor packaging expertise in commercializing its silicon based fuel cell systems. Aspen Technologies is a world-class advanced-packaging service provider enabling its customers to rapidly bring new products to market through the creative application of advanced microelectronic package and assembly technologies, innovative engineering, and scalable manufacturing solutions.

Jack Harrison, CEO of Aspen Technologies said, "We are pleased that Neah Power has engaged us for our packaging expertise and manufacturing capabilities. We are accustomed to developing and manufacturing extremely complex devices with tight intellectual property security requirements. Our assembly services include quick-turn engineering prototypes to fully manufactured devices under SPC control. We look forward to a mutually beneficial relationship with Neah Power Systems and our participation in commercializing its proprietary fuel cell technology."

Dr. Chris D'Couto, President and CEO of Neah Power said, "We have been working with Aspen Technologies to develop high reliability and longer lifetime packaging for our electrochemical cells. We are impressed with Aspen Technologies capabilities, in-house expertise, and their commitment to their customers. We are pleased to have Aspen Technologies contribute to our initial low-volume production run. Aspen Technologies expertise extends beyond just solving unique semiconductor packaging problems, but also includes fabrication sourcing and high volume manufacturing. Our differentiated product enables this multi-sourced manufacturing model; this is another example of how we are leveraging outside world-class expertise to facilitate the commercialization of our product."

About Neah Power Systems

Neah Power Systems, Inc. (NPWS) is developing long-lasting, efficient and safe power solutions for portable electronic devices, including notebook PCs, military radios and other power-hungry products. The market size for portable power is estimated in the multi-billion dollar range by the research group Frost and Sullivan. Neah Power uses a unique, patented, silicon-based design for its micro fuel cells that enable higher power densities. This enables lighter-weight, smaller form-factors and lower cost products, as well as an outsourced manufacturing model. The company's working micro fuel cell prototype, which was demonstrated on September 28, 2007, runs as a closed-loop system without requiring air as an oxidant. Further company information can be found at our website: www.neahpower.com.

Forward Looking Statements

Except for statements of historical fact, the matters discussed in this press release are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, research and prototype delays, difficulties in developing and commercializing new technologies, and additional risk factors as discussed in the reports filed by the company with the Securities and Exchange Commission, which are available on its website at: http://www.sec.gov.

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