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STAMFORD, Conn., Oct. 6, 2003 -- Fuel Tech Inc. has acquired the fuel additive business of Martin Marietta Magnesia Specialties, LLC (MMMS).

In addition, Fuel Tech has signed a long-term supply agreement with MMMS for chemicals used in the Company's FUEL CHEM® business, which, through its patented Targeted In-Furnace Injection (TIFI) technology, controls boiler slagging, corrosion and opacity problems. The terms of the transaction were not disclosed.

Steven C. Argabright, President and Chief Operating Officer of Fuel Tech, commented, "We are extremely pleased to be acquiring a fuel treatment chemical business from a company of this caliber. It provides an excellent strategic fit and will allow us to leverage our technology with Martin Marietta Magnesia Specialties' customer base, while providing us with new contacts and market intelligence. In addition, a long-term chemical supply contract was signed with MMMS to ensure that our customers receive the highest-quality chemical products."

John R. Harman, Vice President and General Manager at MMMS, commented, "Given Fuel Tech's reputation, we are comfortable having our former customers work with them, and believe they will benefit from Fuel Tech's proprietary technology."

Argabright added, "We continue to be excited about the growth opportunities in our FUEL CHEM business. As we said on our last conference call, we have seen more market activity here in the last four months than we have in the last year. Our recent announcement of the successful application at Western Farmers' HUGO Station combined with our strategic agreement with Peabody Energy, the world's largest coal company, facilitates our further penetration in this market. We expect significant additional business to be gained during the next six to eight months, which will give us the recognition and critical mass we need to move forward."

About Fuel-Tech N.V.

Fuel-Tech N.V. is a technology company engaged in the worldwide development, commercialization and application of state-of-the-art proprietary technologies for air pollution control, process optimization, and advanced engineering services.

For more information, visit Fuel-Tech N.V.'s web site at www.fueltechnv.com.

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