today announced the appointment of David B

today announced the appointment of David B.Holtz as interim President and Chief Executive Officer of the Company and NeilCarragher as Chairman, effective immediately Mr. Holtz replaces Thomas E.Gardner, who was Chairman, President and Chief Executive Officer. Mr.Carragher, currently lead director of NUCRYST, will assume the role ofChairman, effective immediately Mr Holtz will also remain as CFO.Previously, Mr. Holtz was Vice President and Chief Financial Officer ofNUCRYST."David's experience and skills will be beneficial to NUCRYST as managementfocuses all efforts on bringing the company to profitability," said Mr.Carragher. "We thank Tom Gardner for his many contributions to the company andfor his dedicated service."Before joining NUCRYST, Mr. Holtz served as a financial management consultantfor various start-up companies, including Virium Pharmaceuticals, Inc.Previously he worked in managerial roles of increasing importance at IntegraLifeSciences Holdings Corporation from October 1993 through December 2006,most recently as Senior Vice President Finance While at Integra, Mr.

Holtzoversaw Integra's European operations to support the transition ofacquisitions in Europe and managed all worldwide financial reporting andaccounting functions. Prior to Integra, he worked for Coopers & Lybrand LLPand Cono Leasing Corporation Mr Holtz received a B.S. in BusinessAdministration with an emphasis on finance from Susquehanna University.NUCRYST Pharmaceuticals Corp. (NASDAQ: NCST; TSX: NCS) develops, manufacturesand commercializes medical products that fight infection and inflammationusing SILCRYST(TM), its patented atomically disordered nanocrystalline silvertechnology.

NUCRYST licensed world-wide rights for SILCRYST(TM) wound carecoating products to Smith & Nephew plc, which markets these products in over30 countries under their Acticoat(TM) trademark. NUCRYST is also developingpharmaceutical products to address medical conditions that are characterizedby pain, infection and inflammation. The Company has developed its proprietarynanocrystalline silver in a powder form, referred to as NPI 32101 for use inmedical devices and as an active pharmaceutical ingredient.Acticoat(TM) is a trademark of Smith & Nephew plcSILCRYST(TM) is a trademark of NUCRYST Pharmaceuticals Corp.This news release contains forward-looking statements within the meaning ofsecurities legislation in the United States and Canada (collectively"forward-looking statements"). With respect to the forward-looking statements contained inthis news release, readers are cautioned that numerous risks, uncertaintiesand other factors could cause our actual results to differ materially fromthose indicated in these statements including, but not limited to: Westaim'sstated intention to review its alternatives for maximizing the value of itsstake in NUCRYST, the identification and pursuit of new opportunities to growthe value of NUCRYST; performance of stock markets generally; our ability tosatisfy regulatory and stock exchange standards and requirements to maintainour exchange listing; our future operation results are uncertain and likely tofluctuate; our ability to maintain our collaboration with Smith & Nephew; ourreliance on sales of Acticoat(TM) products with our SILCRYST(TM) coatings bySmith & Nephew; and the future financial performance and operating performanceof Smith & Nephew.