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Exhibit 99
Contact: Barry S. Kaplan Rudolph A. Lutterschmidt
Barry Kaplan Associates Nocopi Technologies, Inc.
email: [email protected] (610) 834-9600, ext. 12
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FOR IMMEDIATE RELEASE
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NOCOPI TERMINATES EUROPEAN DISTRIBUTOR AND
INITIATES LICENSING PROGRAM FOR EUROPEAN USERS
West Conshohocken, Pa. January 15, 2001 - PRNewswire. Nocopi
Technologies, Inc. (OTC Bulletin Board: NNUP) today announced that it has
terminated its License Agreement with Euro-Nocopi, S.A., which previously had
the exclusive right in Europe to market Nocopi's technologies. The termination
follows Euro-Nocopi's decision to liquidate and dissolve its business.
As a result of the termination, Nocopi has announced that it is willing
to license its technologies to former customers of Euro-Nocopi and that it will
support and service European users who enter into agreements with it. The
Company says that it may take action against unauthorized European users of its
technologies.
The Company announced that Euro-Nocopi had commenced a suit against it
before a French court seeking to, among other things, convert its License
Agreement to a royalty free perpetual license.
Dr. Michael A. Feinstein, Nocopi's Chairman said, "We believe that the
suit initiated by Euro-Nocopi is completely without merit. We intend to defend
it vigorously and also to pursue collection from Euro-Nocopi of all amounts owed
Nocopi under the license agreement through the date of its termination."
Dr. Feinstein also said "Nocopi will act quickly to negotiate
agreements with European companies that wish to continue to use its
technologies. We want to minimize the disruption resulting from Euro-Nocopi's
decision to liquidate its business."
Nocopi Technologies, Inc. was founded in 1984 and is based in West Conshohocken,
Pennsylvania. The Company is engaged in the business of developing solutions
against counterfeiting and product diversion, and for document security and
authentication via patented technologies including invisible ink and reactive
thread.
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FORWARD-LOOKING INFORMATION
The foregoing contains forward-looking information within the meaning of The
Private Securities Litigation Act of 1995. Such forward-looking statements
involve certain risks and uncertainties. Actual results may differ materially
from such forward-looking statements (a summary of which may be found in the
Company's Annual Report on Form 10-KSB for the year ended December 31, 1999 and
in the Company's Quarterly Report on Form 10-QSB for the quarter ended September
30, 2000, in each case, under the caption "Risk Factors"). The Company does not
undertake to publicly update or revise its forward-looking statements even if
experience or future changes make it clear that any projected results (expressed
or implied) will not be realized.
