New Way Air Bearings, Inc

Contact

Michael Wright – Director of Marketing

New Way Air Bearings, Inc.

50 McDonald Blvd., Aston, PA19014 USA

610.364.3453 Direct

FOR IMMEDIATE RELEASE

New Way® Air Bearings Ranked Number30 in Deloitte’s Fast 50 Program for Greater Philadelphia

Attributes its 276% Revenue Growth to Technology Innovation

Aston, Pennsylvania, USA, October 30, 2008–New Way® Air Bearings has been named to Deloitte’s prestigious Fast 50 Program for GreaterPhiladelphia, a ranking of the 50 fastest-growing technology, media, telecommunications and life sciences companies in the area by DeloitteLLP, one of the nation’s leading professional services organizations. Rankings are based on the percentage revenue growth over five yearsfrom 2003–2007.

“Deloitte’s Greater Philadelphia Fast 50companies have shown the strength, visionand tenacity to succeed in today’s verycompetitive technology environment,”said Michael J. Purcell, Greater PhiladelphiaMarketplace Technology, Media, and Telecommunications Leader, Deloitte & Touche LLP. “We applaud the

successes of New Way Air Bearings,andacknowledge it as one of the very few toaccomplish such a fast growth rate over thepast five years.”

President and CEO Nick Hackett credits increasing acceptance of New Way’s transformative technology with his company’s 176% revenue growth from 2003–2007.

“We’re especially pleased to be named to the Deloitte Fast 50 because we were able to show the strong growth required even as the semiconductor market underperformed in 2007,” Hackett noted. “Because we have diversified into other markets –like medical, solar, and flat panel display manufacturing – New Way is well-positioned for future growth.”

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The average increase in revenues among companies who made the Fast 50 for this regionwas 773percent.New Way Air Bearings,the world’s largest independent manufacturer of Porous Media® air bearings, showed a176%increase in revenues from 2003 to 2007. This resulted in a ranking at number 30 on the Fast 50 for Greater Philadelphia.

Founded in 1994, New Way Air Bearings’ growth accelerated with the 2005 launch of new products engineered to meet the needs of Flat Panel Display (FPD) and Photovoltaic (PV) Solar manufacturers globally.

“To make the Deloitte Fast 50 is a testament to our technology,” said New Way chairman and chief technology officer Drew Devitt. “Our air bearing solutions already offered engineers around the world all the benefits of frictionless motion for their linear or rotary motion applications.”

“Then we developed and commercialized non-contact glass handling solutions by literally turning our technology upside-down,” Devitt continued.“When we launched those products itturned the thinking about FPD production lines upside-down as well. As manufacturers all over the world continue to adopt this new way of thinking, we continue to grow.”

This growth, recognized by New Way’s ranking in the Deloitte Fast 50, is also demonstrated in the company’s work force.

“Our ranking in the Deloitte Fast 50 certainly reflects the job growth we’ve experienced,” said New Way human resources director Jennifer DeWhitt. “From 2003 through 2007, the company more than tripled its workforce (326.2%).And we’re still growingas we look forward to 2009. We continue to seek out experienced engineering and machining professionals.”

The Greater Philadelphia Fast 50 program is presented by Deloitte and sponsored by Fragomen, Del Rey, Bernsen & Loewy, LLP, The JudgeGroup, and UK Trade & Investment.

To qualify for the Fast 50, companies must have had operating revenues of at least $50,000 in 2003 and $5,000,000 in 2007, beheadquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes toa significant portion of the company’s operating revenues; or devotes a significant proportion of revenues to the research and development

of technology. Using other companies’ technology or intellectual property in a unique way does not qualify.

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Winners of the regional Fast 50 programs in the United States and Canada are automatically entered in Deloitte’s Fast 500 program, whichranks North America’s top 500 fastest growing technology, media, telecommunications, and life sciences companies. For more informationon Deloitte’s Fast 50 or Fast 500 programs, visit

About New Way Air Bearings

New Way® Air Bearings, Inc. is the market leader in the design and manufacture of modular air bearings and is the recognized provider of porous media air bearing solutions. Founded in 1994, New Way is located in Aston, Pennsylvania, USA, just fifteen minutes from PhiladelphiaInternationalAirport.

New Way was named to Inc. Magazine's list of the 5,000 fastest-growing, private companies in Americain both 2007 and 2008. In November of 2007, The Greater Philadelphia Chamber of Commerce named New Way recipient of its Technological Excellence of the Year Award for 2008.

Visit New Way Air Bearings at This web site includes specifications for the company’s full product range, design and installation guides, mounting hardware, air specifications, technical support, and a full range of accessories.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, and its network of member firms, each of which is a legally separateand independent entity. Please see for a detailed description of the legal structure of Deloitte Touche Tohmatsu and itsmember firms. Please see for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.

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Contact

Michael Wright – Director of Marketing

New Way Air Bearings, Inc.

50 McDonald Blvd., Aston, PA19014 USA

610.364.3453 Direct

610.202.8892 Mobile

Thursday, October 30, 2008New Way Air Bearings – Deloitte Fast 50 AnnouncementFull Press Release Page 1