-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 VYrKTJvr8ZQaI12cn03kaauJMAgCr1PwzWPfqyHJMMK/LiIv2UNCQrhr5C1TRvCR
 FvZiOUD/W8Jvu/gCXp52Fw==

<SEC-DOCUMENT>0001206774-07-002712.txt : 20071120
<SEC-HEADER>0001206774-07-002712.hdr.sgml : 20071120
<ACCEPTANCE-DATETIME>20071120171850
ACCESSION NUMBER:		0001206774-07-002712
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20071119
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20071120
DATE AS OF CHANGE:		20071120

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NORTHERN TECHNOLOGIES INTERNATIONAL CORP
		CENTRAL INDEX KEY:			0000875582
		STANDARD INDUSTRIAL CLASSIFICATION:	CONVERTED PAPER & PAPERBOARD PRODS (NO CONTAINERS/BOXES) [2670]
		IRS NUMBER:				410857886
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11038
		FILM NUMBER:		071260478

	BUSINESS ADDRESS:	
		STREET 1:		4201 WOODLAND ROAD
		STREET 2:		PO BOX 69
		CITY:			CIRCLE PINES
		STATE:			MN
		ZIP:			55014
		BUSINESS PHONE:		(763) 225-6601

	MAIL ADDRESS:	
		STREET 1:		4201 WOODLAND ROAD
		STREET 2:		PO BOX 69
		CITY:			CIRCLE PINES
		STATE:			MN
		ZIP:			55014

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NORTHERN INSTRUMENTS CORP
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>northerntech_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>

<HTML>
<HEAD>
   <TITLE></TITLE>
</HEAD>

<BODY bgcolor="#ffffff">
<BR>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="BORDER-BOTTOM: #000000 2pt double" width="100%">&nbsp;</TD></TR></TABLE>
<P align=center><B><FONT face=serif size=4>UNITED STATES<BR></FONT></B><B><FONT face=serif size=4>SECURITIES AND EXCHANGE COMMISSION<BR></FONT></B><B><FONT face=serif>Washington, D.C. 20549<BR></FONT></B><FONT face=serif>__________________</FONT></P>
<P align=center><B><FONT face=serif size=5>FORM 8-K</FONT></B></P>
<P align=center><B><FONT face=serif>Current Report<BR></FONT></B><B><FONT face=serif>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934<BR>&nbsp;<BR></FONT></B><FONT face=serif>__________________</FONT></P>
<P align=center><FONT face=serif size=2>Date of Report (Date of earliest event
reported):<BR></FONT><B><FONT face=serif>November 19, 2007<BR></FONT></B><FONT face=serif>___________________</FONT></P>
<P align=center><B><FONT face=serif size=5>NORTHERN TECHNOLOGIES
INTERNATIONAL<BR>CORPORATION<BR></FONT></B><FONT face=serif size=2>(Exact name
of registrant as specified in its charter)</FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=center width="32%"><B><FONT face=serif>Delaware</FONT></B>&nbsp;</TD>
    <TD noWrap align=center width="34%"><B><FONT face=serif>001-11038</FONT></B>&nbsp;</TD>
    <TD noWrap align=center width="33%"><B><FONT face=serif>41-0857886</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="32%"><FONT face=serif size=2>(State or
      Other Jurisdiction of</FONT>&nbsp;</TD>
    <TD noWrap align=center width="34%"><FONT face=serif size=2>(Commission
      File Number)</FONT>&nbsp;</TD>
    <TD noWrap align=center width="33%"><FONT face=serif size=2>(I.R.S.
      Employer Identification</FONT>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="32%"><FONT face=serif size=2>Incorporation)</FONT>&nbsp;</TD>
    <TD noWrap align=left width="34%">&nbsp;</TD>
    <TD noWrap align=center width="33%"><FONT face=serif size=2>Number)</FONT>&nbsp;</TD></TR></TABLE><BR>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=center width="49%"><B><FONT face=serif>4201 Woodland
      Road</FONT></B>&nbsp;</TD>
    <TD noWrap align=left width="50%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="49%"><B><FONT face=serif>P.O. Box
      69</FONT></B>&nbsp;</TD>
    <TD noWrap align=center width="50%"><B><FONT face=serif>55014</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="49%"><B><FONT face=serif>Circle Pines,
      Minnesota</FONT></B>&nbsp;</TD>
    <TD noWrap align=left width="50%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="49%"><FONT face=serif size=2>(Address of
      Principal Executive Offices)</FONT>&nbsp;</TD>
    <TD noWrap align=center width="50%"><FONT face=serif size=2>(Zip
      Code)</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=center><B><FONT face=serif>(763) 225-6600<BR></FONT></B><FONT face=serif size=2>(Registrant&#146;s Telephone Number, Including Area
Code)<BR><BR></FONT><B><FONT face=serif>N/A<BR></FONT></B><FONT face=serif size=2>(Former Name or Former Address, If Changed Since Last Report)</FONT></P>
<P align=left><FONT face=serif size=2>Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:</FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD vAlign=top align=left width="1%"><FONT face=Wingdings><FONT size=2><FONT size=3>o</FONT></FONT></FONT></TD>
    <TD vAlign=top align=left width="1%"><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="97%"><FONT face=serif size=2>Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="99%" colSpan=3><FONT size=1>&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT face=Wingdings>o</FONT></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="97%"><FONT face=serif size=2>Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="99%" colSpan=3><FONT size=1>&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT face=Wingdings>o</FONT></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="97%"><FONT face=serif size=2>Pre-commencement communications pursuant to Rule</FONT> <FONT face=serif size=2>14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="99%" colSpan=3><FONT size=1>&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT face=Wingdings>o</FONT></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="97%"><FONT face=serif size=2>Pre-commencement communications pursuant to Rule</FONT> <FONT face=serif size=2>13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</FONT></TD></TR></TABLE>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="BORDER-BOTTOM: #000000 2pt double" width="100%">&nbsp;</TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><FONT face=serif size=2>Section 2 &#150; Financial Information
</FONT></B></P>
<P align=justify><B><FONT face=serif size=2>Item 2.02. Results of Operations and
Financial Condition</FONT></B><FONT face=serif size=2>. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>On
November 19, 2007, Northern Technologies International Corporation publicly
announced its results of operations for fiscal year 2007. For further
information, please refer to the press release attached hereto as Exhibit 99.1,
which is incorporated by reference herein.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
information contained in this report and the exhibit hereto shall not be deemed
to be &#147;filed&#148; for purposes of Section 18 of the Securities Exchange Act of 1934,
as amended, and shall not be incorporated by reference into any filings made by
Northern Technologies International Corporation under the Securities Act of
1933, as amended, or the Exchange Act, except as may be expressly set forth by
specific reference in such filing.</FONT><B><FONT face=serif size=2>
</FONT></B></P>
<P align=justify><B><FONT face=serif size=2>Section 9 &#150; Financial Statements and
Exhibits </FONT></B></P>
<P align=justify><B><FONT face=serif size=2>Item 9.01. Financial Statements and
Exhibits.</FONT></B></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>(c) </FONT><I><FONT face=serif size=2>Exhibits</FONT></I><FONT face=serif size=2>.</FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=center width="1%"  >&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=center width="15%"><FONT face=serif size=2>Exhibit</FONT>
    </TD>
    <TD noWrap align=center width="1%"  >&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="82%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="1%"  ></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>No.</FONT> </TD>
    <TD noWrap align=center width="1%"  ></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="82%"><FONT face=serif size=2>Description</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="1%"  ></TD>
    <TD noWrap align=center width="15%" bgColor=#c0c0c0><FONT face=serif size=2>99.1</FONT> </TD>
    <TD noWrap align=center width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="82%" bgColor=#c0c0c0><FONT face=serif size=2>Press Release issued November 19, 2007</FONT>&nbsp;
</TD></TR></TABLE><BR>
<P align=center><B><FONT face=serif size=2>SIGNATURE</FONT></B><FONT face=serif size=2> </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized. </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"  ></TD>
    <TD noWrap align=left width="50%" colSpan=3><B><FONT face=serif size=2>NORTHERN TECHNOLOGIES</FONT></B>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"  ></TD>
    <TD noWrap align=left width="50%" colSpan=3><B><FONT face=serif size=2>INTERNATIONAL CORPORATION</FONT></B>&nbsp; </TD></TR>
  <TR>
    <TD noWrap align=left width="50%"  ></TD>
    <TD noWrap align=left width="50%"   colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD noWrap align=left width="50%"  ></TD>
    <TD noWrap align=left width="50%"   colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD noWrap align=left width="50%"  ></TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="49%"   colSpan=2>&nbsp;&nbsp;
      <IMG src="northerntech_8kx2x1.jpg" border=0>&nbsp;</TD></TR>
  <TR>
    <TD noWrap align=left width="50%"  ></TD>
    <TD noWrap align=left width="1%"  ><FONT size=2>By:</FONT>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"  >&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="30%"  >&nbsp;</TD></TR>
  <TR>
    <TD noWrap align=left width="50%"  ></TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="49%"   colSpan=2><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp; Matthew C. Wolsfeld</FONT>&nbsp; </TD></TR>
  <TR>
    <TD noWrap align=left width="50%"  ></TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="49%"   colSpan=2><EM><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp; Chief Financial Officer</FONT></EM>&nbsp;
    </TD></TR>
  <TR>
    <TD noWrap align=left width="50%"  ></TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="49%"   colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD noWrap align=left width="50%"  ><FONT size=2>Dated:&nbsp;
      <FONT face=serif>November 19, 2007</FONT></FONT>&nbsp; </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="49%"   colSpan=2></TD></TR></TABLE><BR>
<P align=right>
<HR align=center width="100%" noShade SIZE=2>

<PAGE>
<P align=center><B><FONT face=serif size=2>NORTHERN TECHNOLOGIES INTERNATIONAL
CORPORATION </FONT></B></P>
<P align=center><B><FONT face=serif size=2>FORM 8-K </FONT></B></P>
<P align=center><B><U><FONT face=serif size=2>Exhibit
Index</FONT></U></B><B><FONT face=serif size=2> </FONT></B></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=center width="12%"><B><FONT face=serif size=2>Exhibit</FONT></B> </TD>
    <TD noWrap align=center width="2%"  ></TD>
    <TD noWrap align=left width="55%">&nbsp; </TD>
    <TD noWrap align=left width="2%"  ></TD>
    <TD noWrap align=left width="29%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="12%"><B><FONT face=serif size=2>No.</FONT></B> </TD>
    <TD noWrap align=center width="2%"  >&nbsp;&nbsp;&nbsp;&nbsp;
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="55%"><B><FONT face=serif size=2>Description</FONT></B>&nbsp; </TD>
    <TD noWrap align=left width="2%"  >&nbsp;&nbsp;&nbsp;&nbsp;
</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="29%"><B><FONT face=serif size=2>Method of Filing</FONT></B>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="12%" bgColor=#c0c0c0><FONT face=serif size=2>99.1</FONT> </TD>
    <TD noWrap align=center width="2%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="55%" bgColor=#c0c0c0><FONT face=serif size=2>Press Release issued November 19, 2007</FONT>&nbsp; </TD>
    <TD noWrap align=left width="2%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="29%" bgColor=#c0c0c0><FONT face=serif size=2>Filed herewith</FONT>&nbsp; </TD></TR></TABLE><BR>


<HR align=center width="100%" noShade SIZE=2>




</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>northerntech_8kx2x1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 northerntech_8kx2x1.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#``$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_
MVP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_P``1"`!$`(T#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#^_BBBB@`H
MHIKND:-)(RHB*SN[L%1$4%F9F8@*J@$LQ(``))P*`'45^24/_!6+X(?'VP^+
MNB?L3ZS<?&FZ^&.J:9X8\0?&W0_#-YXL^#6C7_B%)]+TK4?`@TO4K#4_COKN
MH^-+CP_X`^&W@WP?<:/HGQB^(.N?V%X6^(4/A_PA\4/%G@+[^_9K\*_%3P3\
M`?@_X5^.7CV\^*'QCT;P!X<M_B?X_OM-TS2+CQ/XY?3XKCQ+J']EZ+'%I5A`
M-5FN;:SMK!%MXK2"!4SRQ`/;Z***`"BBB@`HKX:_:`_;G\(_!K]HWX!_LC>#
MOASX\^.W[1?QT8>+)OAW\.AHUI_PJCX!Z;J=QHOBW]HKXJ>(_$^H:1X>\-?#
MGP_K4"^']/MFU";Q+XR\33Q^'O"6D:IJ2RQ)]RT`%</XY^)GPZ^&,/A>X^(W
MCKPEX$@\;^-_#/PT\&R^+O$&E>'T\5_$/QI>-I_A'P-X=;5+JU&L^+?$U\CV
MNA>']/\`M&J:I/')'9VLQC?;X5KW[8'PNT;]J&3]E.#[?J?C;PQ\$-2_:(^,
M?B-'M+#P1\$/A9_:5[H?A#5_B!XAU*:ULK?4O'VL:/XD3P]H=A)=:E!HWA77
M_$VLPZ;H=O:7=]^7/B7XQZ/\8_CSXF_:_P#BIX-UKQ)\"/V7KO0M&_96^'7C
MG0]-L9O''[5WQ%NI/"_P7\,^!/!'BGPSIWC/P[\8_%6GZUX6\=W?B3QM8V5M
MX*L/C1\%-,M+SPSXD^&7QKC\/`'[YT5\8?\`!/KQAXL^)O[)WPT^,7C?Q1%X
MP\2?'"Y\;_&F76M/NM;NO#4>@?$_Q[XF\7>!-!\#MK["^/P^\)_#_4_"WA3P
M+=?9[)=9\+:+I?B":U%]J]W--]GT`%%%%`!117S1^T;^TOX=^`MIX1\.:?I$
M_P`1OCA\5]9C\,_!3X(Z%>-#XH^(6L_;-/@UK6+B6WL-6F\-?#?X>Z9J!\7?
M%/XA7>EWFF^#?"-A>W:6FKZ]<Z%X=UH`O?M5?M0_"?\`8Z^!GCKX^?&363IO
MA3P7H][>6NE61AF\1^,]?CL[FYT?P5X/TZ::!=3\3>(9[8VMA#)-;V%C$+G6
M=<O]*\/Z9JNK6/\`/YK/[:'[:7[4OAM],\>VUM\#;+]I'XA>%O@U\!?V3]'T
M!;GQ)XE^*FG:[XTTSXA_!7Q[\4S)#JOQ'\!?!GP39W'QK_X*!>*/`0\#^'-&
MT;P9<?LD>`]5TCQ]X9^-&K>..;^+O@/Q[^V;^VO\8?AU\7_&:VWP9_9)L--^
M)G[?'[4`UOQ?I7P(^',=O\/M-\1Q?L0?LL64WVE?#L7A'X>ZG9?&#]H3XF3^
M+/!OQ"USXC7'@WQYXRTH>$/"/@GX)U]C^!-7\:KX/^&WBKPA\/&^`OQ1_;+T
M)?V;_P#@GG\!-(^&]GX8O_V!/V2=+TS5/$OCGXZ^./"L=U=:3H'CUO":Z'\4
M?B-H&CZ?H'AJX\<VG[+W[,>J7OG:9=?$^_`,S]G3X8?`?]DW3_B7XT\81>+=
M9^!W[&>L0VWCSXPP_"W4M,U7]L?]NKQ-XJ:/Q=XK\'?"?X<:9.?%7AWX`>)-
M;L?@W^SU\-?`>CZQX(\.?&+XD?$WP=X8T/\`X3/X2:/XE;Z$_:V_X*?ZY\*/
M&'PC^'?[,'P2LOVDO%GQ3^!]W\<;UM1\>GX=+X)\-^/+_P`*_#G]F877A>X\
M-ZUXR\0WGQJ^.WQ"\#^!+K3K72=*E\$Z'>:IXDUVYBGATS2=3^%/VY;W]G6!
M/#_["ECH6G7W[%_[&7P[N-<_:76/5M2\2ZI8:#X<\&1^,OC'I\]]9W3>)=>^
M-Q^&OBOX8?"F]LK[4Y?%'C+7?^"BUE\3+S4K+Q'X'M)?$'Q?X)\`?%OXR_M-
M_!_Q1X;\=WEK^T_^UKXT^+_[0/@BX\`Z>GQ!\$?LE_#_`,%VOQ@^`?P0^+WQ
M`T;Q-?ZK;>+_`(8_"+P]X@^*4G@*\TBV\'_#GQ/\5O"/[`?@34O#;R'Q9\0I
M0#^CK]A/2?#OP6_9%O/$?BGX@W&H>&H?'G[2?Q1\2?$KQ[XKU.]A7PE)\9?B
M/K-MXK\1>(/%6OZU%80VW@>QTS5/$^HQ:N/#\NIIK7B"S^SV=^2.5\7?%3Q+
M\5_AOKWQU^+?Q0MOV,OV)?"6IP^,8O%P\67'@WXM_&'X8Z%?PSZ7XS\7_$2X
MN="C_9V^%OQ'_=3:?X0\.VVH_&OQ%X2U#P]?S_$#X/>)-4U?P!!Y!::?\;_C
MKXFT?X'_```^&/@OPM^QM^R!XJT?X6:=XH^,NL:N^C_'WX@_!S2++PU;WNC>
M&?"UIJMUX[^#_P``_&=C<Z7JGA/5]2^'NH_$GX[>`%N6^(/@_P`,?#.YTCXL
M_6_PW_8^L;#X@3_&O]H+XD^)OVF/C*VH1:GX:O/&-G#H?P;^"\T=K]E^Q_L\
M?`JVOM7\-?#=`CSJWC3Q'JWQ%^-FH6US-IWB#XNZYIH@LX0#PG]EWX6MX[^+
MFF_'OX>_#_Q+^SE^S_X(@U[0_`.DZ]INL:5\9_VO)=:T_5+9_BS\>+WQ9J%]
MX]3X4Z'-X@U6^^#'@;XCK_PL75-=EE^)?BG_`(1RS_X1CPP=OXP?MV7]_P"!
M_$WC3]E3P[HWQ-^%WA'PGXE\4>-_VJ]1N/[6^!'AR/08-7AC\-?"S2=#U*Q\
M3_M/_$_5-<TL>'],\(_#.^TOP/;ZW=P:+XC^*^A>)C;^&;W]`?%W@SPA\0-`
MO/"OCOPKX=\:>%]1>U?4?#?BS1=-\0Z!J#65U#?69O\`1]7MKO3KS[)>V]O>
M6XN;:40W5O!<1A9H8W7X]N?#^E?M(?'JW\+B#PA/^SW^QIXT\,3OX5@TFWU.
M+Q?^U!I?AK3_`!-X2B+P7D.BZ!X:_9P\.>)/#7B/2]&&E:Q>:G\6_$6@ZK'+
MX*U'X)V*^+`"Q^P_^R[KG[.OPKL]>^-OCS5/C;^U1X^T^/Q!\??C]XYAT&;Q
MEKFKWK-J<7P_TW5='TW2['2?A5\,4G/AKP)X4T2TTKPY:6=C<^(AI,&N^(=<
MN[OYJB_:BU+Q3INO?MV1Z%XF\2>!=0&M?`'_`()S_`NPT34;#7_VDO$OCB[L
M&L_C,\\2ZE.OA_XZ:SX1MI?A;XIO-(L_#7PZ_9?\.^(/C[K^KCPK\0O$*^%/
M?/CT_BC]JGQGXO\`V4?`?B2^\#?"CP3+X+E_:W^*^@ZK<:=XFN=.U^V7QA%^
MS%\/+B/3+BST_P`1>//!2Z%J7QM\67.K:?JG@/X.?$/P[8^$;&]\5?$RQ\5_
M#C\M?CW_`,%%O"'PQ^&-K_P4:O\`3]/MOAII>K^-OV9?^"9W[.VOVECX:M?'
MUZ=7D\*^-OVQX8M'C\07FK>'/$W@_P`):I#\$5\*Z-%9:3^SO=M<R>)?#D?[
M1WB.+PD`:/C7P#XX\'ZW_P`,=?"[4M<^/'[3GQL^)ND^(/VS?VFO$:6GA?3O
MB1\0=>T2V\5O\-M?NM/N(=:;]GK]EKX/Z]X1^)6M_`RWU"+0M?\`A1:_`C]E
MF\\2:EK?[3OC'7H/0_C]I<WASPYIG[(?PBM_B)\3;SX.S>$_A)!\8?%CZ'XJ
M\8?$C]O+]JG1SI<GQ(U_6++2+V>X^)W[.GP!\9?$W]L?XK7]SX3T+P!HUKXL
M^'U[I$N@V'AB.PT'\$OV-_\`@J5\?_!'Q^_:E^&G[-?PN\1?M\?M67/A"P\/
M_#[P)\#OA`D?ACX7:;XDU3P3<_%3XS_&_P#:,^)SZ=X]O[W1_BC>W=UXP\')
MX`\(:'\3OC9K7C/Q;XZUZ"QU7P5?>"_Z0/V/_P!D3]M7PYHWA+Q-\6_&_P`/
MOA?KV@^&+^U\*:/?:A=?M,^._"VJ^/UAU;XI_$/Q-XMU;PS\)M*UC]IGQ_K_
M`)W_``GOQ:UJ?XH>#;C1'F\+?#GX:_#30M3\3VWB0`_6GP;X0\%?"3X?>%_`
MGA#2]'\&?#SX:^$-&\*^&M&LHK72M!\+^#_"&CV^E:3I]M%&MO9:?I>C:/I\
M$$:JL-O;6MN.$C3CP&]_;(^%.J6Q?X-:/\1_VFKMM<U'PW;_`/#/7@F]\;^$
M)=;T.ZAM/$6FW/QIU*?PY^S_`*+?>'9YO*U>P\1?%G1[^*Z@N].MK6ZU2UGL
M4T-,_9$^$-U.^J_%FVUC]I'Q/)JEQK"^(OVAKC3/B-#IE_+=)<6\OA'P')I&
MF?"CX=_V='#:V=F_PZ^'_A.>2WM8Y=0FO[^6[OKGZ5L-/L-*L;33-+LK33=-
ML+>*TL=/L+:&SL;*T@01P6UI:6Z1P6UO#&JQQ0PQI'&BA455`%`'S[X8U']J
MKQ?!8:EXA\/?!?X'11WS->>&[G4/%7Q^UW4M,266/RI=5TBY^!V@^$M2F14N
M(GM7^(EI'$Z++B=I(K?Z-HHH`\/^+FA_M!^(8[C1_@WX_P#AG\.K'6-`N],G
M\7>*O`6N^.O%?A#6ITOU3Q)X<T2#QCX;\,^(98HY+!-.TKQ";6QTW489=6U,
M^*+`GPQ-^?\`\2?"%C^S79^'/@'^SY/K?Q4_X*(?M:>#CX+\3?M/^+QI7B/X
MP^'?`'AJP32O&_[6?QDUMXX1H7PI^$^O:_:S_#SX3>$K+0_AL?BUXS\(_#CX
M=^#O#6@ZMKNH:!^B?QZ^-O@7]G+X0>._C5\1[V>T\)>`](74+N&RA-UJ^MZI
M?WMIHOACPGX=L`5?5/%7C/Q1J6C>$O"FD1$3:OXCUK2]-A_>W25^9?\`9OQ,
M^&FEW'CO7/#$6F?\%/\`_@H5=2^%O#MG:)%\2!^RS\&]'O\`0[:70D\1Z;;W
M/AFR^$W[(G@CQ+I?C#X@:S:OIW@[XQ?M):];Q6[WNJ_%3P9IT`!P?ACX7>!=
M!\G]DOP?/JG@K]@7]@V)?BI^W'\=_'<UAKD/[8?QGL_#.J_$+QC\-?B#XCU.
MXF\2>)6TOQ!?:)^T;^UE\1KJ[U&U\8>(XM'^!NLVNLZ!K7Q.T32Y9_VH_"T'
MC/\`;`^+_P`=_`NM>,=*L_V+?B'\:?'WP?\`&>D:;HEQ^R!^R1X(TK6+KX7_
M``M^,WA#5);W6K+XL?MR_9/BE\6];\,7GA^P\1Z!X=^'UK\/OB#8W,'PS\%W
M.J^K_$?X<>(O"G@;2_V'/V4O*\:W?P@^&^J_'7X]:K\5-3\3:I?_`!F\6SG6
M?$7PY^'OQB^(?A^UFOK[Q=^UA\:;&^\;?'V_?1];U#7?A-I'Q`T8^%H[;XC^
M&FA_,OX#^#/CAXV_8@M/B+J7PX^)?CWQY\3_`(H_LY_M0_\`!3CQ]%\+O$.F
M_$?]J7Q$_P`?_!7B#XC?LF_"SPE\3H-*EUSX*?L[_!C3-5^%/C#0+%+7P5=>
M"/#+?"/PDUWK>K_%*TMP#\D/B1\#/!7PH^"'A/Q9^U9X0T7X9?'7QOX"OOVV
M?CW;VOP#^%6B>/?V0OA+KW@C4_A3X'BM?!EY9:KI6L^-=9^)<VM>(].\)P7E
MEXGC^//BC]A3]G_QOI5W\%/AA8)X1_3S]C+XY>'9/A3^TOXJ^#^A:Y^SU^W;
M^UKXU_9,_9C^`'CCQ_I?@OQGX,^!G@3XQ?#&1OV?/@S\"K#1/$?CN2Y^&/[*
M?P4\#?$+XWZHWCGPQ\-_"OQ^\?VU[XP\-'Q)X4^(GP]U>?QS0/\`@GU\2O\`
M@HG^U!K/[97QE^)K_$3X#_$_]H?2_C1XM_9:^`7B+Q%\4+UO!/@#P-X'\.?"
MO]F77/CW;R:!^ROK*:9XB\+/K_Q6N_`GQ?MM`\"^)=!EA\,>)/&7BW4?"GBW
MX;?L+\=?V!_B?/\`%OX+?M>_LU_!7X.>"?BS\(OBIIOQC\0?"'Q;\7OBGXET
M#XDK;?L\>(OV9;'PWH/A1-0T#X$?"3X@>!OAAK&C#P7XB\.Z1>Z+)K7A6V\/
M7OB*Q\/:QK7B"\`/V"^''@'P]\+/`/@[X<>$[>:W\.>"/#FD^&M)6ZN;F_OI
MK72;.*T%[JFI7TUS?ZKK&HO&]_K&KZE=76IZOJES=ZEJ5W=7UU<7$E/XB_%3
MX>_";PQJOC#XA>*=/\.:#HTVBV=W-*MUJ&H3:IXFU>R\/>%=!TK0M)M[_7=>
M\2^+O$>IZ7X:\(>&=#TW4?$'BOQ)JFE^'_#VFZEK.HV5E/\`G1\.?$G_``4%
M\?VOQ(MK[]G'Q7\,=3\2ZVM[H^L?M<?M#_!S4/!_@VW&D/HMUI'P]^'_`.Q7
M#K_B'Q%X5%[;W&K1:;\1_B3I/B#4'U6#4AXRLO(M="T7GM*\9?LV?!OXA>,;
M7QU\5_&W[?7[:O@";_A,=6^"7P>T6T^(?B'X/W&L3Z3!I.A?#[]GGP7?1_#G
M]GO0=(G6V@\+>/OCEKUM\0H+'567QC\<]=_MJ&6Z`/?OVJOVB?$UC^S%XAUC
MX;ZIKW[/GC?XJ:^_PC^&?Q7^+OA"QT"/X3V^LZ+J6M>+OVF/$/@?Q[/IR6?A
M?X$?#+0OB)\:[OPU\4X?!@UBT^&5UI7B:'0M*U5-0/Y'?$:;XT_#7XB_`SXN
M?!KXNZ'^RM_P3ZTGX'?$WX0_"7QO\3_&'AKX?>&_$_QY^,6J107/[9GBCP%K
M7BJ[^(?[2/QO\?V5SXG\0_L\_#S5/AMKU_\`%;Q/XEOOB!XO\;^&9O&>H)K_
M`.DOQ6^!W[2O[>_@W1_"OQN\&?#']ECX/SW,?B3_`(135M%\"?M*_M):?K/V
M'4=-LKM+GQ1IOB;]E[P#K'_"->(-8T#7],O_``9^TCI`%_JUEI^J7%O-;ZI7
MU;X&_9!^`?@F^\.^(KOP6OQ*^('ABSTJUTCXI_&C4;_XN_$K39=*LHK-;KP_
MXI\>3:U<>!TNVB-[=:+\/8?"/A>.]E=]/T&QA2""$`_G2_:V_9T_X*"?'+6-
M?\-?L5?%;4_^"<W_``2X^%/PXU+5?C9XI_:"\'^+/"_CS]J;Q7XCN[SQ+\;/
M'6M>#_$7ABY_:KUEM:T&\U'2_B%K_P`4]:^%_BGXD^(Y;G5-&N-9UC5+[Q-)
MX!\/O^"%U[\9O''P'T/X^_M+?$OQC^TKXST<_&']HS2_&VAW=[#\"?V%/$/A
M]_#/@[]F:R^%D_CSQ)\,OAI\2/BI\2='6YCUB.Q\0'PQXG\`?%#Q'\)M?;5_
M@;X>U_7?WR_:3^/'AKQAXCU34BU[\3?@[\$OB/9?#+PS\&O`MK::]??M>_MM
M2:=KD^B_`_[9:WNHZ??>"_@?+;Q^(_B#9ZAID&A^%_B+X>UCQ)\0-8T71/V?
M_&5C<?8O[-7P,U7X->$M4O\`X@>+W^)_QS^)&L7'C+XT?%.[L+*RE\1>)KZ:
MYGL?"OAFWMK.TFT;X4?#'3KM?`_PC\*W;7E]H?@S3+2?7]4U_P`9:KXJ\4:\
M`+^SW^Q_^RI^R;IVJZ7^S)^SG\%O@+:Z\EDGB%_A3\-_"G@F^\2_V<ACL9/$
MVJZ#I=GJGB.>V#2-%<:W>7\XEFGG,AFN)I)/HVBB@`HHHH`0D@$@;B`2%R!D
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M:=\;?M3_``?^.G@[0O&/C?P+X1\"?\(Y\=?@2/CMX<\!:;X4@U.&>+X3:GX?
M^*?P4\>_#_1O&=Q?VFM>/?"]CXSO-"\3>)=&TW79K2WNEN!.P.T\&>)?VB/B
M]IEYXI\,_#;PQ^RYX>\77&HS)J'Q4TN?QA\?=2@L';PUINL^)OA?H,GA[P7X
M%UBYTS2H-6\+R:Y\3OBC=P>'I_#EOXL\&Z+J5OJWA"Q[.T_9A^'6IPZ'<_%F
M?Q!^T!XET1[:[7Q%\9+VSU^TFUBUN%O(-;M?AYI&GZ!\)/#VI6]T/-L[CPM\
M/]$>S3$4#*@Y\E\8_`3]LSXAV>IZ/K/[<NF_#;2=6&G+)>_L]_LS^&_!/C'2
MH[8VW]H)X?\`$?Q?^)/[05C8'5%AGS-J'AS5[FQ>[=K6=5BAC1W@C]@7X7Z%
M"Y^)_P`5?VG_`-IF^G:)KV7]HC]H7X@>+?#6H^1<7LR1WOPE\+7_`()^!LMN
MT5S;6MQ:)\,([2\32=+N[R"XU6*YU"Z`.X^,/[:'[(?[-/B'P[\-?BI\<OAK
MX&\?Z]%!'X0^#]AJ*:[\5=>MI,1VO_"+?!_P9;:W\0M8M9'V6]L^C>%KFWDG
MDAM86:>:*)_-_AY^T9^U/\>M1\1M\.OV2M5^!/@#1]>32M)^(W[7GB"Y\$^*
MO&FDFXNXF\5>"?@!X&TGQ3XL?26CLC.NG?%CQO\`!/Q-'#J.D-)HAGDU6UT?
MZ@^&'P*^"/P2L[O3_@Q\'/A7\([#4&5[^Q^&'P]\(^`;.]=``CW=MX4TC28;
MED``5ID<J``"*]4H`^$KS]CCQI\5=>O-8_:I_::^)'Q@\,7VEW>D7'P!^&NG
MP_L\_LV7%M>P);W$NL^$_"NL^)/C)XV:XB$RW.C_`!(^/OC7P=<+<S(_A4(M
MLEO]7_#7X5?#+X-^%;'P/\)OA_X.^&O@_34C2S\->!_#FD^&=&B,4$5NLQL=
M(M;2"6Z:&&))KN9)+J?8K3S2/EJ[ZB@`KXD_:^_:*E^&NG2_#/PAXGL?!?C/
M7/`7C#Q]XX^*NJV%Y?Z!^SI\$_#EC<VGB'XS:LD>EZCI&H>,'U>2WT#X,>`-
M<ELE^)'C:._$8N_#O@WQF;/[3O+J.RM+J\F6=XK2WGNI4MK>>[N7C@B:5UM[
M2UCEN;J=E0B*WMXI)YI"L<4;R,JG\:_V//V?/B1^U#K>F?MD_M=^%_$_A&\\
M9>*;SXC:;^S5\1/!?ARULUO]%O=!D_9XN_&NB:U)XFUR"Q_9@T;2+V^^#&D7
M<_ABZ7XU>/OC%^T+J7A;0?$/C+P9HW@D`^H/V0_V=+72])^&?QG^('PMT_X8
M>*O#?PUA\'?`SX+#4KC76_9G^%_B:TTK4]>\/:QJ4UO:VVM?'CQ]>VMGJ'QW
M\;0P7C/J]C;>"M%\0>(])T34O&?CO[\HHH`****`"BBB@`HHHH`****`"BBB
@@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`__]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>exhibit99-1.htm
<DESCRIPTION>PRESS RELEASE ISSUED NOVEMBER 19, 2007
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<body>





<P align=right><FONT face=serif size=2>Exhibit 99.1</FONT><BR>&nbsp;</P>

<P align=right><B><FONT face=serif size=2>Northern Technologies International
Corporation<BR>4201 Woodland Road, P.O. Box 69<BR>Circle Pines, MN
55014<BR></FONT></B><FONT face=serif size=2>www.ntic.com</FONT><B><FONT face=serif size=2> </FONT></B></P>
<P align=justify><B><FONT face=serif size=2>FOR IMMEDIATE RELEASE
</FONT></B><FONT face=serif size=2></FONT></P>
<P align=center><B><FONT face=serif size=4>NORTHERN TECHNOLOGIES INTERNATIONAL
CORPORATION<BR>ANNOUNCES 84.5% INCREASE IN NET INCOME IN FISCAL
2007</FONT></B></P>
<P align=justify><FONT face=serif size=2>CIRCLE PINES, Minnesota, November 19,
2007 - Northern Technologies International Corporation (AMEX: NTI) announced
today its operating results for its fiscal year ended August 31, 2007.
</FONT></P>
<P align=justify><FONT face=serif size=2>The Company&#146;s net income for fiscal
2007 increased $1,504,343, or 87.5%, to $3,223,408 for fiscal 2007 compared to
$1,719,065 for fiscal 2006. The increase in net income reflects a $726,295
one-time gain on the sale of certain assets that took place in first quarter of
fiscal 2007. Diluted net income per share was $0.87 for fiscal 2007 compared to
$0.47 for fiscal 2006. </FONT></P>
<P align=justify><FONT face=serif size=2>NTIC announced that it had entered into
five new corporate joint venture arrangements during the past two fiscal years
and that total net sales of all of NTIC&#146;s joint ventures increased to
$80,551,700 during fiscal 2007 compared to $63,959,090 during fiscal 2006.
NTIC&#146;s share of equity in income of its corporate joint ventures and holding
companies increased 18.0% to $3,201,621 in fiscal 2007 compared to $2,713,096 in
fiscal 2006. NTIC also recognized increased fee income for technical and support
services provided to its corporate joint ventures of $4,976,194 for fiscal 2007,
an increase of $281,070 or 6.0%, compared to $4,695,124 for fiscal 2006. This,
in part, resulted in a 71.3% increase in NTIC&#146;s income from its corporate joint
ventures and holding companies to $3,300,887 in fiscal 2007 compared to
$1,926,463 in fiscal 2006. </FONT></P>
<P align=justify><FONT face=serif size=2>NTIC&#146;s working capital was $3,788,777
at August 31, 2007, including $244,499 in cash and cash equivalents, compared to
working capital of $2,221,334, including $299,117 in cash and cash equivalents,
as of August 31, 2006. Additionally, as of August 31, 2007, NTIC did not have
any outstanding borrowings under its $1,500,000 revolving credit
facility.</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>

<P align=justify><FONT face=serif size=2>NTIC&#146;s consolidated net sales in North
America increased 1.3% during fiscal 2007 compared to fiscal 2006 primarily as a
result of an increase in demand of React-NTI products to existing customers,
partially offset by a decrease in demand for Zerust<SUP>&#174;</SUP> products. Net
sales of React-NTI products increased $279,012 to $4,784,789 during fiscal 2007
compared to fiscal 2006. Net sales of Zerust<SUP>&#174;</SUP> products decreased
$54,946 to $12,044,241. NTIC anticipates that due to the loss of a significant
customer of React-NTI during first quarter of fiscal 2008, NTIC&#146;s consolidated
net sales for fiscal 2008 will be materially adversely affected. However, since
the margins on the sales to this customer were extremely small, NTIC does not
expect that the anticipated decrease in net sales will have a material adverse
effect on its consolidated net income for fiscal 2008. NTIC&#146;s North American
operations incurred a net loss of $497,622 in fiscal 2007 compared to net income
of $91,585 in fiscal 2006. The net loss for NTIC&#146;s North American operations for
fiscal 2007 was primarily the result of an increase in cost of sales and
operating expenses, partially offset by a slight increase in net sales during
fiscal 2007 compared to fiscal 2006.</FONT><FONT face=serif></FONT></P>
<P align=justify><FONT face=serif size=2>NTIC is engaged in extensive scientific
research and development programs in the areas of material science and corrosion
protection. NTIC spent $2,575,325 in fiscal 2007 and $2,043,611 in fiscal 2006
in connection with its R&amp;D activities. These R&amp;D investments will build
on NTIC&#146;s current environmentally responsible corrosion technologies and provide
for a portfolio of new environmental technology offerings. Specifically the
portfolio includes, the application of new and existing corrosion inhibiting
technology to the oil and gas industry. Bioplastic resins and products including
biodegradable and compostable plastics to reduce our carbon footprint and
provide environmentally sound disposal options. Process technology and equipment
to convert plastic waste into energy &#150; diesel, gasoline and mid-distillates.
During fiscal 2008, NTIC expects to invest over $3,000,000 in additional
research and development and marketing efforts and resources into these new
emerging businesses, product lines and markets.</FONT></P>
<P align=justify><B><FONT face=serif size=2>NORTHERN TECHNOLOGIES INTERNATIONAL
CORPORATION AND SUBSIDIARIES</FONT></B></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="91%">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=center width="3%" colSpan=2><FONT size=1><B><FONT face=serif size=2>2007</FONT></B></FONT> </TD>
    <TD noWrap align=center width="1%"  >&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=center width="4%" colSpan=2><FONT size=2><FONT face=serif size=2><STRONG>2006</STRONG><FONT size=3> </FONT></FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#c0c0c0><FONT face=serif size=2>NORTH
      AMERICAN OPERATIONS:</FONT>&nbsp; </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%">&nbsp;
      &nbsp;&nbsp; <FONT face=serif size=2>Net
      sales</FONT>&nbsp; </TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      $16,829,030</FONT> </TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="1%"  ></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      $16,604,964</FONT> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>Cost of sales</FONT>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=2>10,799,180</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="1%"   bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>10,346,437</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%">&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>Gross profit</FONT>&nbsp; </TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=2>6,029,850</FONT> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="1%"  ></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>6,258,527</FONT> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=6>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>Operating expenses</FONT>&nbsp; </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=2>6,527,472</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD>
    <TD noWrap align=right width="1%"   bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>6,166,942</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD></TR>
  <TR>
    <TD width="99%" colSpan=6>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>NORTH AMERICAN OPERATING (LOSS)
      INCOME</FONT>&nbsp; </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=2>(497,622</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>)</FONT> </TD>
    <TD noWrap align=right width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>91,585</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD></TR>
  <TR>
    <TD width="99%" colSpan=6>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#c0c0c0><FONT face=serif size=2>INCOME FROM ALL CORPORATE JOINT</FONT>&nbsp; </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>VENTURES AND HOLDING COMPANIES</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=2>3,300,887</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD>
    <TD noWrap align=right width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>1,926,463</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD></TR>
  <TR>
    <TD width="99%" colSpan=6>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#c0c0c0><FONT face=serif size=2>INTEREST INCOME</FONT>&nbsp; </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=2>4,165</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD>
    <TD noWrap align=right width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>34,251</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%"><FONT face=serif size=2>INTEREST
      EXPENSE</FONT>&nbsp; </TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=2>(164,372</FONT> </TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>)</FONT> </TD>
    <TD noWrap align=right width="1%"  ></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>(94,751</FONT> </TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>)</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#c0c0c0><FONT face=serif size=2>OTHER
      INCOME</FONT>&nbsp; </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=2>20,934</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD>
    <TD noWrap align=right width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>3,233</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%"><FONT face=serif size=2>GAIN ON SALE OF
      ASSETS</FONT>&nbsp; </TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=2>726,295</FONT> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="1%"  ></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>-</FONT> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#c0c0c0><FONT face=serif size=2>MINORITY INTEREST</FONT>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=2>19,121</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="1%"   bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>12,284</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=6>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#c0c0c0><FONT face=serif size=2>INCOME BEFORE INCOME TAX EXPENSE</FONT>&nbsp; </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=2>3,409,408</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD>
    <TD noWrap align=right width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>1,973,065</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD></TR>
  <TR>
    <TD width="99%" colSpan=6>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#c0c0c0><FONT face=serif size=2>INCOME TAX EXPENSE</FONT>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=2>186,000</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="1%"   bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>254,000</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=6>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#c0c0c0><FONT face=serif size=2>NET
      INCOME</FONT>&nbsp; </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=2>$3,223,408</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD>
    <TD noWrap align=right width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>$1,719,065</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD></TR>
  <TR>
    <TD width="99%" colSpan=6>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#c0c0c0><FONT face=serif size=2>NET
      INCOME PER COMMON SHARE:</FONT>&nbsp; </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <FONT face=serif size=2>Basic</FONT>&nbsp;
    </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%"><FONT face=serif size=2>$0.88</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="1%"  ></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT face=serif size=2>$0.48</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <FONT face=serif size=2>Diluted</FONT>&nbsp;
    </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=2>$0.87</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="1%"   bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>$0.47</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=6>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#c0c0c0><FONT face=serif size=2>WEIGHTED AVERAGE COMMON SHARES</FONT>&nbsp; </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#c0c0c0>&nbsp; &nbsp;<FONT face=serif size=2>ASSUMED OUTSTANDING:</FONT>&nbsp; </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <FONT face=serif size=2>Basic</FONT>&nbsp;
    </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%"><FONT face=serif size=2>3,661,824</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="1%"  ></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT face=serif size=2>3,603,340</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <FONT face=serif size=2>Diluted</FONT>&nbsp;
    </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=2>3,695,166</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="1%"   bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>3,630,677</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD></TR></TABLE><BR>&nbsp;
<HR align=center width="100%" noShade SIZE=2>

<PAGE>
<P align=justify><B><FONT face=serif size=2>Quarterly Information is as
follows</FONT></B><FONT face=serif size=2> </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="79%">&nbsp; </TD>
    <TD noWrap align=center width="1%"  ></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%" colSpan=12><FONT face=serif size=2>Quarter Ended</FONT> &nbsp; &nbsp;
  </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%">&nbsp; </TD>
    <TD noWrap align=center width="1%"  ></TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=2>November</FONT> </TD>
    <TD noWrap align=center width="1%"  ></TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=2>February</FONT> </TD>
    <TD noWrap align=center width="1%"  ></TD>
    <TD noWrap align=center width="4%" colSpan=2>&nbsp; </TD>
    <TD noWrap align=center width="1%"  ></TD>
    <TD noWrap align=center width="1%">&nbsp; </TD>
    <TD noWrap align=center width="3%"></TD>
    <TD noWrap align=center width="1%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%">&nbsp; </TD>
    <TD noWrap align=center width="1%"  >&nbsp;&nbsp;&nbsp;&nbsp;
    </TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=2>30</FONT> </TD>
    <TD noWrap align=center width="1%"  >&nbsp;&nbsp;&nbsp;&nbsp;
    </TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=2>28</FONT> </TD>
    <TD noWrap align=center width="1%"  >&nbsp;&nbsp;&nbsp;&nbsp;
    </TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=2>May
      31</FONT> </TD>
    <TD noWrap align=center width="1%"  >&nbsp;&nbsp;&nbsp;&nbsp;
    </TD>
    <TD noWrap align=center width="5%" colSpan=3><FONT face=serif size=2>August 31</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%" bgColor=#c0c0c0><FONT face=serif size=2>Fiscal year 2007:</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%">&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>Net sales</FONT> </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp; </FONT>4,617,374</FONT> </TD>
    <TD noWrap align=left width="1%"  >&nbsp;</TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp; </FONT>3,884,895</FONT> </TD>
    <TD noWrap align=left width="1%"  >&nbsp;</TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>$</FONT> </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp; </FONT>4,407,798</FONT> </TD>
    <TD noWrap align=left width="1%"  >&nbsp;</TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp; </FONT>3,918,963</FONT> </TD>
    <TD noWrap align=left width="1%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;
      <FONT face=serif size=2>Gross profit</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>1,672,319</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>1,425,831</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>1,531,786</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>1,399,914</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%">&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>Income before income</FONT> </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="3%">&nbsp; </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="3%">&nbsp; </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%">&nbsp; </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%"><FONT face=serif size=2>taxes</FONT> </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>1,122,224</FONT>
    </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>596,203</FONT>
    </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>718,800</FONT>
    </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>972,181</FONT>
    </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;
      <FONT face=serif size=2>Income taxes</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>132,000</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>148,000</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>91,000</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>(185,000</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>)</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%">&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>Net income</FONT> </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>990,224</FONT>
    </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>448,203</FONT>
    </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>627,800</FONT>
    </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>1,157,181</FONT>
    </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD></TR>
  <TR>
    <TD width="100%" colSpan=14>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%" bgColor=#c0c0c0><FONT face=serif size=2>Net income per share:</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%">&nbsp; &nbsp;&nbsp; <FONT face=serif size=2>Basic</FONT> </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>0.27</FONT> </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>0.12</FONT> </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>$</FONT> </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>0.17</FONT> </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>0.32</FONT> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;
      <FONT face=serif size=2>Diluted</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>0.27</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>0.12</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT> </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>0.17</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>0.31</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD></TR>
  <TR>
    <TD width="100%" colSpan=14>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%" bgColor=#c0c0c0><FONT face=serif size=2>Weighted average</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%" bgColor=#c0c0c0><FONT face=serif size=2>common shares assumed</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%" bgColor=#c0c0c0><FONT face=serif size=2>outstanding:</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%">&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>Basic</FONT> </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>3,624,314</FONT>
    </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>3,664,248</FONT>
    </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>3,679,016</FONT>
    </TD>
    <TD noWrap align=left width="1%"  ></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>3,679,412</FONT>
    </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;
      <FONT face=serif size=2>Diluted</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>3,665,677</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>3,690,260</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>3,708,626</FONT> </TD>
    <TD noWrap align=left width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>3,713,366</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
</TD></TR></TABLE><BR>
<P align=justify><FONT face=serif size=2>Composite financial information from
the audited and unaudited financial statements of the Company&#146;s joint ventures
carried on the equity basis is summarized as follows: </FONT></P>


<DIV align=center>
<TABLE cellSpacing=0 cellPadding=0 width="90%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="88%">&nbsp;</TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=2>August
      31,</FONT> </TD>
    <TD noWrap align=center width="1%"  >&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=2>August
      31,</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"><FONT face=serif size=2>2007</FONT> </TD>
    <TD noWrap align=center width="1%"  ></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"><FONT face=serif size=2>2006</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#c0c0c0><FONT face=serif size=2>Current assets<FONT style="BACKGROUND-COLOR: #c0c0c0" size=3>
      </FONT></FONT></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=2>&nbsp;&nbsp;&nbsp;&nbsp; $36,481,058</FONT> </TD>
    <TD noWrap align=right width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=2>&nbsp;&nbsp;&nbsp;&nbsp; $33,954,156</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%"><FONT face=serif size=2>Total
      assets<FONT size=3> </FONT></FONT></TD>
    <TD noWrap align=right width="5%"><FONT face=serif size=2>42,967,257</FONT> </TD>
    <TD noWrap align=right width="1%"  >&nbsp;</TD>
    <TD noWrap align=right width="5%"><FONT face=serif size=2>39,030,247</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#c0c0c0><FONT face=serif size=2>Current liabilities<FONT style="BACKGROUND-COLOR: #c0c0c0" size=3>
      </FONT></FONT></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=2>13,733,953</FONT> </TD>
    <TD noWrap align=right width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=2>14,323,903</FONT> </TD></TR>
  <TR>
    <TD width="99%" colSpan=4>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#c0c0c0><FONT face=serif size=2>Noncurrent liabilities</FONT> </TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=2>3,522,659</FONT> </TD>
    <TD noWrap align=right width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=2>1,496,557</FONT> </TD></TR>
  <TR>
    <TD width="99%" colSpan=4>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#c0c0c0><FONT face=serif size=2>Joint ventures&#146; equity</FONT> </TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=2>25,710,645</FONT> </TD>
    <TD noWrap align=right width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=2>23,209,788</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%"><FONT face=serif size=2>Northern
      Technologies International Corporation&#146;s</FONT> </TD>
    <TD noWrap align=left width="5%">&nbsp;</TD>
    <TD noWrap align=right width="1%"  ></TD>
    <TD noWrap align=right width="5%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%"><FONT face=serif size=2>share of
      Corporate Joint Ventures&#146; equity</FONT> </TD>
    <TD noWrap align=right width="5%"><FONT face=serif size=2>$13,602,842</FONT> </TD>
    <TD noWrap align=right width="1%"  ></TD>
    <TD noWrap align=right width="5%"><FONT face=serif size=2>$10,772,102</FONT> </TD></TR>
  <TR>
    <TD width="99%" colSpan=4>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%">&nbsp;</TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=2>August
      31,</FONT> </TD>
    <TD noWrap align=center width="1%"  ></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=2>August
      31,</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"><FONT face=serif size=2>2007</FONT> </TD>
    <TD noWrap align=center width="1%"  ></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"><FONT face=serif size=2>2006</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#c0c0c0><FONT face=serif size=2>Net sales</FONT> </TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=2>$80,551,700</FONT> </TD>
    <TD noWrap align=right width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=2>&nbsp; $63,959,090</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%"><FONT face=serif size=2>Gross
      profit<FONT size=3> </FONT></FONT></TD>
    <TD noWrap align=right width="5%"><FONT face=serif size=2>37,395,480</FONT> </TD>
    <TD noWrap align=right width="1%"  ></TD>
    <TD noWrap align=right width="5%"><FONT face=serif size=2>29,204,129</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#c0c0c0><FONT face=serif size=2>Net income<FONT style="BACKGROUND-COLOR: #c0c0c0" size=3>
      </FONT></FONT></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=2>6,439,108</FONT> </TD>
    <TD noWrap align=right width="1%"   bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=2>5,209,499</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%"><FONT face=serif size=2>Northern
      Technologies International Corporation&#146;s share of equity in</FONT>&nbsp;
    </TD>
    <TD noWrap align=left width="5%">&nbsp;</TD>
    <TD noWrap align=right width="1%"  ></TD>
    <TD noWrap align=right width="5%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%"><FONT face=serif size=2>income of
      Corporate Joint Ventures</FONT> </TD>
    <TD noWrap align=right width="5%"><FONT face=serif size=2>$3,201,621</FONT> </TD>
    <TD noWrap align=right width="1%"  ></TD>
    <TD noWrap align=right width="5%"><FONT face=serif size=2>$2,713,096</FONT> </TD></TR></TABLE></DIV>


<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><FONT face=serif size=2>About Northern Technologies
International Corporation</FONT></B></P>
<P align=justify><FONT face=serif size=2>Northern Technologies International
Corporation focuses on developing, marketing and selling proprietary
environmentally responsible materials science based products and technical
services directly and via a network of independent distributors, manufacturers&#146;
representatives and joint ventures in over 50 countries. In fiscal 2007, over
70% of NTIC&#146;s consolidated net sales were derived from the sales of
Zerust<SUP><FONT face=serif size=2>&#174;</FONT></SUP> rust and corrosion inhibiting
packaging products and services to the automotive, electronics, electrical,
mechanical, military and retail consumer markets. During this same period, NTIC
also received revenues from sales of proprietary new technologies including
anti-abrasion ink additives, as well as bio-based sintered metal mold release
agents, bio-solvents, bio-emollients, bio-cleaners, bio-lubricants and bio-based
and biodegradable plastic packaging.</FONT></P>
<P align=justify><B><FONT face=serif size=2>Forward-Looking
Statements</FONT></B></P>
<P align=justify><FONT face=serif size=2>Statements contained in this press
release that are not historical information are forward-looking statements as
defined within the Private Securities Litigation Reform Act of 1995.&nbsp; Such
statements include, but are not limited to, statements about the effects of the
loss of a customer on NTIC&#146;s consolidated net sales and net income for fiscal
2008, NTIC&#146;s effort to increase net sales by expanding the application of its
corrosion inhibiting technology into the oil and gas industry and new
bioplastics product line including biodegradable and compostable plastics and
process technology that converts waste plastics back into diesel, gasoline and
mid-distillates, NTIC&#146;s expectations regarding the amount of research and
development and marketing expenses for fiscal 2008 and such other statements
which can be identified by words such as &#147;expect,&#148; &#147;anticipate,&#148; &#147;estimate,&#148;
&#147;will,&#148; &#147;would,&#148; or words of similar meaning and any other statements that are
not historical facts. Such forward-looking statements are based upon the current
beliefs and expectations of NTIC&#146;s management and are inherently subject to
risks and uncertainties that could cause actual results to differ materially
from those projected or implied.&nbsp; Such potential risks and uncertainties
include, but are not limited to, in no particular order: the contraction of the
U.S. automobile industry and its adverse effect on the demand for NTIC&#146;s
Zerust<SUP>&#174;</SUP> products, the failure of NTIC to realize any benefits,
financial or otherwise, from its efforts to expand the application of its
corrosion inhibiting technology into the oil and gas industry and its product
line, the difficulties and risks associated with NTIC&#146;s international operations
and its corporate joint ventures, and NTIC&#146;s reliance on its joint ventures for
distributions and fees for technical services.&nbsp; More detailed information
on these and additional factors which could affect NTIC&#146;s operating and
financial results is described in the company&#146;s filings with the Securities and
Exchange Commission, including its most recent annual report on Form 10-KSB and
subsequent quarterly reports on Form 10-QSB. NTIC. urges all interested parties
to read these reports to gain a better understanding of the many business and
other risks that the company faces.&nbsp; Additionally, NTIC undertakes no
obligation to publicly release the results of any revisions to these
forward-looking statements, which may be made to reflect events or circumstances
occurring after the date hereof or to reflect the occurrence of unanticipated
events.</FONT></P>
<P align=justify><FONT size=2>For more information, please contact Matthew
Wolsfeld, CFO, Northern Technologies International Corporation, (763)
225-6600.</FONT></P>
<P align=justify>
<HR align=center width="100%" noShade SIZE=2>


</body>
</HTML>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
