BOTHELL, Wash., Jan. 20, 2010 -- Neah Power Systems, Inc., (OTCBB:NPWZ - News), www.neahpower.com, I am delighted to continue my dialogue with you. Neah has had favorable and significant events occur since my last letter to shareholders, and I would like to thank all of you for your continued support. The intent of this letter is to update you on the company and address specific questions that have risen during this period.

BOTHELL, Wash., Jan. 19, 2010 -- Neah Power Systems, Inc., (OTCBB:NPWZ - News), www.neahpower.com, the Company developing fuel cells and fuel cell-based renewable energy solutions, announced today that it has reached agreements separately with Ebeling Heffernan (EF), a public markets Consultancy Company based in Bangkok, Thailand, and First Equity Trust to purchase from the company up to $10 million of Neah Power’s common stock between January 26, 2010 and January 25, 2011, with a firm commitment of a minimum of $500,000 at a $1.00 per share (restricted stock) by January 26, 2010. The company also reported that it has received a total of $200,000 from the investors, at a valuation of $1.00 per share in restricted stock.

BOTHELL, Wash., Jan. 13, 2010 -- Neah Power Systems, Inc., (OTCBB:NPWZ - News), www.neahpower.com, the company developing fuel cell-based renewable energy solutions, announced today that the Washington Technology Industry Association (WTIA) named it a finalist for Innovative Manufactured Product of the Year as part of its 15th annual Industry Achievement Awards (IAA). The awards recognize Washington State companies, organizations and students who best demonstrate technology and service innovation and excellence. To get more information and to register for the event, go to: a href="http://www.washingtontechnology.org/IAA" target="_blank">www.washingtontechnology.org/IAA.