Press Release

TAMPA, Fla.--(BUSINESS WIRE)--May 21, 2002--Liquidmetal Technologies announced today the initial public offering of 5,000,000 shares of its common stock at a price of $15.00 per share.

The shares will be quoted on the Nasdaq National Market under the symbol "LQMT." Liquidmetal Technologies has granted the underwriters an option to purchase up to 750,000 additional shares of its common stock to cover overallotments. Liquidmetal Technologies intends to use the net proceeds of the offering for the construction and equipping of manufacturing facilities, for the repayment of indebtedness, and for general corporate purposes.

The offering was led by Merrill Lynch & Co. with UBS Warburg LLC and Robert W. Baird & Co. Incorporated acting as co-managers. Copies of the prospectus relating to this offering may be obtained from Merrill Lynch & Co., 4 World Financial Center, New York, NY 10080, (212) 449-1000.

A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there by any sale of these securities in any state or jurisdiction where such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About Liquidmetal Technologies

Liquidmetal Technologies develops, manufactures, and markets products made from amorphous alloys and believes that it is the only company dedicated solely to the commercialization of bulk amorphous alloys. Liquidmetal Technologies has the exclusive right to develop, manufacture and sell what it believes are the only commercially available bulk amorphous alloys. Liquidmetal Technologies' amorphous alloys, or Liquidmetal^® alloys, possess a combination of performance, processing, and cost advantages that the company believes makes them preferable to other materials in a variety of applications. With respect to performance, Liquidmetal alloys are in many cases stronger, harder, more elastic, and more wear and corrosion resistant than commonly used high-performance alloys. With respect to processing, bulk Liquidmetal alloys possess advantages that are typically associated with plastics, such as the ability to be molded into highly finished products without costly post-finishing processes. Liquidmetal Technologies markets and sells Liquidmetal alloy industrial coatings and makes products and components from bulk Liquidmetal alloys that can be incorporated into the finished goods of its customers.

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