June 8, 2006

PRESS RELEASE

AMERICAN ELEMENTS ANNOUNCES NEW IRIDIUM PRODUCTION FACILITIES WILL EXPAND IRIDIUM METAL, FOIL AND WIRE CAPACITY

[June 8, 2006, Los Angeles , CA] American Elements announced today the start up of an expanded iridium production unit at its Utah facility which will greatly increase the capacity of the company to meet growing demand for its iridium metal products, including wire and foil.

In addition to standard diameters and lengths, with the opening of this new production facility wire diameters can now be achieved in the Fine Wire range to Micro Wire or Ultra Fine Wire range (0.010� to 0.0005�/12.7 microns). Foil thickness can now be achieved in the Thin Film and Ultra Thin Film or Thin Foil to Microfoil range (0.010� to 0.0005� thick).

For further technical and pricing information on iridium metal, foil and wire products, please contact your local American Elements distributor or American Elements U.S. corporate headquarters. American Elements is a Los Angeles based global manufacturer and developer of engineered and advanced materials with the world’s largest industrial catalogue of rare earth materials accessible electronically at www.americanelements.com. For further information on the new Chinese rare earth tax rates, please contact your local American Elements distributor or American Elements U.S. corporate headquarters at (1)310-208-0551, FAX (1)310-208-0351 or customerservice@americanelements.com.