October 17, 2002

News Release: Fast Neutron Technology Detects Concealed Liquid Explosives

HiEnergy Technologies, Inc. (OTC Bulletin Board: HIET) has successfully applied its patent-pending stoichiometric technology to simulated liquid explosives in liquid and confirmed that it can quickly and effectively detect the concealed substance. The company conducted the tests shortly after a national news report said the authorities had expressed concern that terrorists might try to smuggle liquid explosives aboard an airliner in coffee and that no existing technology could detect it in advance.

"When liquid explosive simulant was added to coffee in the proportion of one part explosive to two parts coffee, the explosive signature on our screen increased by 380 percent," said Dr. Bogdan Maglich, HiEnergy's founder and Chief Scientist. "As a result, we know that HiEnergy's technology can detect liquid explosives in coffee." Unlike HiEnergy's technology, the equipment currently in use at the nation's airports is chemically blind and can determine only the location, image and density of suspicious objects. That type of technology is based upon "anomaly detection", not "explosive detection". Hi-Energy has repeatedly demonstrated that its proprietary explosives detection technology can detect, remotely and conclusively, the chemical formula of many concealed substances, such as explosives, anthrax and illegal drugs.

In the coming weeks, HiEnergy plans to apply for funding from the Transportation Security Administration (TSA) to further develop its technology for use in the commercial airline industry. In its report explaining the appropriations for the Department of Transportation and related agencies for the fiscal year ending September 30, 2003, the Committee on Appropriations directed the TSA to speed up certification of new technology that could provide vast improvements in current airport security systems. As well, the Committee recommended US$451,691,000 for the procurement of additional explosive detection systems (EDS).

ABOUT HIENERGY TECHNOLOGIES, INC.

HiEnergy Technologies, Inc. has the only patent pending stoichiometric explosive detection technology that remotely determines the chemical formula of concealed substances, including explosives, biological weapons, and illegal drugs. "Stoichiometric" means detection that deciphers the chemical formula of unknown substances through barriers in a short period of time. The systems HiEnergy is developing may have applications in several markets, including airport security screening, bio-weapons detection, landmine detection, and contraband detection, in addition to chemical and petrochemical industry applications. HiEnergy's technology has been developed through several years of research and under grants from the Department of Defense and the US Customs agency.

FORWARD-LOOKING STATEMENT

The matters discussed in this press release may contain "forward-looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements can be identified by the use of forward-looking terminology such as "believes", "could", "plans", "expects", "may", "will", "intends", "should", or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. The safe harbor provisions of Section 21E of the Securities Exchange Act or 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, apply to forward-looking statements made by HiEnergy Technologies, Inc. You should not place undue reliance on forward-looking statements. Forward-looking statements involve risks and uncertainties. The actual results that HiEnergy Technologies, Inc. achieves may differ materially from any forward-looking statements due to such risks and uncertainties. These forward-looking statements are based on current expectations, and HiEnergy Technologies, Inc. assumes no obligation to update this information. Readers are urged to carefully review and consider the various disclosures made by HiEnergy Technologies, Inc. in its reports filed with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect its business.

FOR FURTHER INFORMATION:
HiEnergy Corporate Communications
(866) 642-6267
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SOURCE HiEnergy Technologies, Inc.

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