Manhattan Scientifics Announces Retirement of its Current $2.5M Long Term Debt and Proudly States That It Now Has a Virtually Zero-Debt Balance Sheet

NEW YORK–(BUSINESS WIRE)– Manhattan Scientifics Inc. (OTCQB: MHTX) announced today that equity
capital to retire $2.0M of the $2.5M debt was raised by Manhattan
Scientifics’ subsidiary, Imagion Biosystems. The remaining $500,000
debt, currently guaranteed to the lender by Manhattan Scientifics, is
scheduled to convert into Imagion Biosystems equity concurrent with its
planned IPO this Spring/Summer.

Details to follow.

About Manhattan Scientifics, Inc.

Manhattan Scientifics Inc. (www.mhtx.com)
is located in New Mexico, New York and Montreal. It is focused on
technology transfer and commercialization of transformative technologies.

Forward-looking statement

This press release contains forward-looking statements, which are
subject to a number of risks, assumptions and uncertainties that could
cause the Company’s actual results to differ materially from those
projected in such forward-looking statements. Management at Manhattan
Scientifics believes that purchase of its shares should be considered to
be at the high end of the risk spectrum. Forward-looking statements
speak only as of the date made and are not guarantees of future
performance. We undertake no obligation to publicly update or revise any
forward-looking statements.

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