NanoSensors, Inc. Announces Reorganization of Executive Management Team and Redirection of Operations

SANTA CLARA, Calif., Sept. 13 NanoSensors, Inc.(OTC Bulletin Board: NNSR) today announced that Dr. Ted L. Wong, its ChiefExecutive Officer, President, Chief Financial Officer and Chairman of theBoard, has departed the company. NanoSensors entered into a separationagreement with Dr. Wong dated September 9, 2007, pursuant to which he agreedto resign from all positions with NanoSensors, including as a member of theboard of directors effective as of August 31, 2007. Dr. Wong's departurecoincides with a decision by the company's board of directors that the boardbelieves it to be in the best interests of our shareholders to terminate itscurrent business operations and to position the company as a shell company andto utilize our corporate assets as a vehicle for the acquisition of anoperating business. The company does not have any specific merger, stockexchange, asset acquisition, reorganization or other business combinationunder consideration or contemplation and other than two initial, exploratoryconversations, we have not, nor has anyone on our behalf, contacted anypotential target business or had any discussions, formal or otherwise, withrespect to such a transaction. NanoSensors will not limit itself to anyparticular industry or geographic location in its efforts to identifyprospective target businesses. In connection with this determination, theboard authorized the management to negotiate and execute the separationagreement with Dr. Wong, dissolve the company's Technical Advisory Board andto terminate certain of the company's consulting and license agreements. Inaddition, the Company's non-binding letter of intent with DKL International,Inc. expired August 31, 2007.

The restructured company will be led by Robert A. Baron as acting ChiefExecutive Officer and President. Mr. Baron, who has served on the company'sboard of directors since July 2006, will also assume the position of Chairmanof the Board. The Board of NanoSensors currently consists of Mr. Baron andRobert G. Coutu, who was elected to the board in July 2007. In addition, toensure continuity, the board decided to appoint Josh Moser as its interimChief Financial Officer. Mr. Moser currently is the company's Vice Presidentand Chief Operating Officer.

Although the Company does not have any specific merger, stock exchange,asset acquisition, reorganization or other business combination underconsideration or contemplation, the Company intends to capitalize on thesignificant strength of its management team, which is experienced in sourcing,structuring, financing and consummating business combinations in a variety ofindustry sectors. The Company believes that it has extensive contacts andsources, ranging from public and private company contacts, private equityfunds, and investment bankers to attorneys, accountants and business brokers,from which to generate acquisition opportunities. The Company further believesthat its extensive contacts, relationships and sources, when combined with theskills of its management team will help it identify and structure attractiveacquisition opportunities for its stockholders. Biographical information aboutthe Company's current management team follows.

Robert Baron was initially appointed to our board July 10, 2006. Mr. Baronpresently serves as a member of the board of directors of threepublicly-traded companies, OPKO Health, Inc. (f/k/a eXegenics, Inc.),Hemobiotech, Inc., and Andover Medical, Inc. OPKO Health was a public shellthat in March 2007 completed a three-way merger with Froptix Corporation andAcuity Pharmaceuticals, Inc. OPKO Health is engaged in the development oftherapies for the treatment and prevention of ophthalmic disease. Hemobiotechis a development stage biotechnology company and Andover Medical a durablemedical equipment company.

Robert Coutu was elected to our board on July 17, 2007 and presentlyserves as the president of Ocean Fres

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