Nocopi Reports Results for 1998 / Fourth Quarter Loss

Cut by 60% WEST CONSHOHOCKEN, Pa. (PROTEXT) - Nocopi Technologies, Inc.(OTC Bulletin Board: NNUP) today announced that revenues for theyear ended December 31, 1998, were $2.4 million vs. $3 millionfor the previous year. The announcement was made by Jack H. Halperin, the Company'sinterim Chairman of the Board. Mr. Halperin replaced Richard A.Check who resigned in early 1999. The loss per shares was $0.02 compared to a loss of $0.05 pershare in 1997. The Company has approximately 33.5 million sharesoutstanding. The figures include the Company's proportionateshare of the loss incurred by its European affiliate, Euro-Nocopi, S.A. For the three-month period ended December 31, 1998, revenueswere $468,000 versus $581,000 in 1997, resulting in a loss of$117,000 versus a loss of $300,000 in 1997. "We are disappointed with the 1998 results," said Mr.Halperin. "We are considering various strategic and businessalternatives. Those alternatives include (i) a potentialinvestment in the Company by a potential strategic partner and(ii) an offer received by the Company for a combination with astart-up company in an unrelated business, which the Company ispresently evaluating. There is no assurance that any transactionwill be consummated." Nocopi Technologies, Inc., based in West Conshohocken, PA, isa publicly traded company. The Company's technologies providedocument security and authentication that enables the detectionof product counterfeiting and diversion. Forward-Looking Information The foregoing contains forward-looking information within themeaning of The Private Securities Litigation Act of 1995. Suchforward-looking statements involve certain risks anduncertainties. Actual results may differ materially from suchforward-looking statements. The Company does not undertake topublicly update or revise its forward-looking statements even ifexperience or future changes make it clear that any projectedresults (expressed or implied) will not be realized. Comparable results of operations follow:

19981997 Three months ended December 31: Revenues

$468,000$581,500 Net loss

($117,100)($298,900) Net loss per common share

($.00)($.01) Average common shares outstanding

33,587,33226,527,330 Year ended December 31: Revenues

$2,423,900$3,046,000 Net loss

($548,800)($847,000) Net loss per common share

($.02)($.05) Average common shares outstanding

33,587,33217,192,323 ots Original Text Service: Nocopi Technologies, Inc.Internet: http://www.newsaktuell.de Contact: Rudolph A.Lutterschmidt, Chief Financial Officer of Nocopi Technologies,610-834-9600 Web site: http://www.nocopi.com

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