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<SEC-DOCUMENT>0001104659-09-055261.txt : 20090918
<SEC-HEADER>0001104659-09-055261.hdr.sgml : 20090918
<ACCEPTANCE-DATETIME>20090918165118
ACCESSION NUMBER:		0001104659-09-055261
CONFORMED SUBMISSION TYPE:	424B5
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20090918
DATE AS OF CHANGE:		20090918

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:		424B5
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-153891
		FILM NUMBER:		091077254

	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>424B5
<SEQUENCE>1
<FILENAME>a09-26975_1424b5.htm
<DESCRIPTION>424B5
<TEXT>

<html>

<head>





</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table
of Contents</a></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.7%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PROSPECTUS SUPPLEMENT<a name="ProspectusSupplement_213859"></a></font></b></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.28%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.04%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Filed Pursuant to Rule&nbsp;424(b)(5)</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.7%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(To
  the prospectus dated January&nbsp;16, 2009)</font></b></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.28%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.04%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Registration No.&nbsp;333-153891</font></b></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">480,000 Shares</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman"><img border="0" width="173" height="110" src="g269751bei001.jpg"></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Common Stock&nbsp;&nbsp;&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Northern Technologies
International Corporation is offering 480,000 shares of common stock to seven
investors pursuant to this prospectus supplement and the accompanying
prospectus.&#160; Each share of common stock
will be sold at a negotiated price of $7.40.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:36.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our common stock is listed
on the NASDAQ Global Market under the symbol &#147;NTIC.&#148;&#160; On September&nbsp;17, 2009, the last reported
sale price of our common stock on the NASDAQ Global Market was $8.61 per
share.&#160; As of August&nbsp;19, 2009, the
aggregate market value of our outstanding common stock held by non-affiliates
was approximately $26,547,580 based on 3,756,597 shares of outstanding common
stock, of which 2,654,758 shares were held by non-affiliates, and a price of
$10.00 per share, which was the last reported sale price of our common stock as
quoted on the NASDAQ Global Market on August&nbsp;19, 2009. We have offered
securities with an aggregate market value of $3,552,000, consisting of 480,000
shares of our common stock we are offering hereby, pursuant to General
Instruction I.B.6. of Form&nbsp;S-3 during the prior 12 calendar month period
that ends on and includes, the date of this prospectus supplement.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:36.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">An investment in our common stock
involves a high degree of risk. Please see the section entitled &#147;Risk Factors&#148;
beginning on page&nbsp;S-5 of this prospectus supplement and page&nbsp;3 of the
accompanying prospectus.</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:37.45pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Next Generation Equity
Research, LLC acted as the placement agent on this transaction.&#160; The placement agent is not purchasing or
selling any of these securities nor is it required to sell any specific number
or dollar amount of securities, but has agreed to use its reasonable best
efforts to sell the securities offered by this prospectus supplement.&#160; We have agreed to pay the placement agent the
placement agent fees set forth in the table below.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="1" cellspacing="0" cellpadding="0" width="90%" style="border:none;border-collapse:collapse;margin-left:48.0pt;width:90.0%;">
 <tr>
  <td width="66%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:66.66%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.78%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:13.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Per Share</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.78%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:13.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Total</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.1%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:66.66%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Public offering price</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:2.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.9%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.40</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:2.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.9%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,552,000</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.1%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:66.66%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Placement agent fees</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.9%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0.481</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.9%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">230,880</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.1%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:66.66%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Proceeds, before expenses, to Northern
  Technologies International Corporation</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:2.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:11.9%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.919</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:2.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:11.9%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,321,120</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.1%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt 1.45pt;text-indent:-1.45pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Delivery of the shares of
common stock is expected to be made on or about September&nbsp;23, 2009,
against payment for such shares of common stock to be received by us on the
same date.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:36.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Neither the Securities and
Exchange Commission nor any state securities commission has approved or
disapproved of these securities or determined if this prospectus is truthful or
complete.&#160; Any representation to the
contrary is a criminal offense.</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Next Generation Equity Research, LLC</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The date of this</font><font size="2" style="font-size:10.0pt;">
prospectus supplement is September&nbsp;18, 2009</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105730\09-26975-1\task3721514\26975-1-be.htm',USER='105730',CD='Sep 18 21:47 2009' -->



<br clear="all" style="page-break-before:always;">
<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table
of Contents</a></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><a name="TableOfContents"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TABLE OF CONTENTS</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="92%" valign="bottom" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:7.56%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Page</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;"><a href="#ProspectusSupplement_213859">PROSPECTUS SUPPLEMENT</a></font></b></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#AboutThisProspectusSupplement_212022" title="Click to goto ">ABOUT THIS PROSPECTUS SUPPLEMENT</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-1</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#ProspectusSupplementSummary_211529">PROSPECTUS
  SUPPLEMENT SUMMARY</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-2</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#RiskFactors_211800">RISK FACTORS</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-5</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#SpecialNoteRegardingForwardlookin_211620">SPECIAL NOTE
  REGARDING FORWARD-LOOKING STATEMENTS</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-17</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#UseOfProceeds_211630">USE OF PROCEEDS</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-18</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#Dilution_211634" title="Click to goto ">DILUTION</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-18</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#DescriptionOfOurCommonStock_211800">DESCRIPTION OF OUR
  COMMON STOCK</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-19</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#PlanOfDistribution_211851">PLAN OF DISTRIBUTION</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-22</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#LegalMatters_211955">LEGAL MATTERS</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-24</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#Experts_211958">EXPERTS</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-24</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#WhereYouCanFindMoreInformation_212001">WHERE YOU CAN
  FIND MORE INFORMATION</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-24</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#IncorporationOfCertainDocumentsBy_212005">INCORPORATION
  OF CERTAIN DOCUMENTS BY REFERENCE</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-24</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:7.56%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Page</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;"><a href="#Prospectus_214155" title="Click to goto ">PROSPECTUS</a></font></b></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#Summary_213141">SUMMARY</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#RiskFactors_211829">RISK FACTORS</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#SpecialNoteRegardingForwardlookin_211830">SPECIAL NOTE
  REGARDING FORWARD-LOOKING STATEMENTS</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#AboutThisProspectus_211844">ABOUT THIS PROSPECTUS</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#UseOfProceeds_211846">USE OF PROCEEDS</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#DescriptionOfSecurities_211856">DESCRIPTION OF SECURITIES</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#PlanOfDistribution_211947">PLAN OF DISTRIBUTION</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#LegalMatters_211637">LEGAL MATTERS</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#Experts_211639">EXPERTS</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#WhereYouCanFindMoreInformation_211640">WHERE YOU CAN
  FIND MORE INFORMATION</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>
  </td>
 </tr>
 <tr>
  <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#IncorporationOfCertainDocumentsBy_211643">INCORPORATION
  OF CERTAIN DOCUMENTS BY REFERENCE</a></font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.56%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:36.4pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">You
should rely only on information contained in this prospectus supplement, the
accompanying prospectus and the documents we incorporate by reference in this
prospectus supplement and the accompanying prospectus. We have not authorized
anyone to provide you with information that is different. You should not assume
that the information in this prospectus supplement or the accompanying
prospectus is accurate as of any date other than the date on the front of this
prospectus supplement or the accompanying prospectus or that any document that
we incorporated by reference in this prospectus supplement or the accompanying
prospectus is accurate as of any date other than its filing date. You should
not consider this prospectus supplement or the accompanying prospectus to be an
offer or solicitation relating to the securities in any jurisdiction in which
such an offer or solicitation relating to the securities is not authorized.
Furthermore, you should not consider this prospectus supplement or the
accompanying prospectus to be an offer or solicitation relating to the
securities if the person making the offer or solicitation is not qualified to
do so, or if it is unlawful for you to receive such an offer or solicitation.</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105730\09-26975-1\task3721514\26975-1-bg.htm',USER='105730',CD='Sep 18 21:44 2009' -->



<br clear="all" style="page-break-before:always;">
<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table
of Contents</a></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">ABOUT THIS PROSPECTUS SUPPLEMENT</font></b><a name="AboutThisProspectusSupplement_212022"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We are providing this information to you about this offering in two
parts. The first part is this prospectus supplement, which provides the
specific details regarding the offering. The second part is the base prospectus
dated January&nbsp;16, 2009, included in the registration statement on Form&nbsp;S-3
(No.&nbsp;333-153891) which we are supplementing with the information contained
in this supplement. Generally, when we refer to this &#147;prospectus,&#148; we are
referring to both documents combined. Some of the information in the base
prospectus may not apply to this offering.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">You should also read and consider the information in the documents that
we have referred you to in &#147;Where You Can Find More Information&#148; on page&nbsp;S-24
of this prospectus supplement and the information described under &#147;Incorporation
of Certain Documents by Reference&#148; on page&nbsp;14 of the accompanying
prospectus before investing in our common stock. The information incorporated
by reference is considered to be part of this prospectus supplement, and
information that we file later with the Securities and Exchange Commission, or
SEC, will automatically update and supersede this information.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If information in this prospectus supplement is inconsistent with the
base prospectus, you should rely on this prospectus supplement. We have not
authorized anyone to provide information different from that contained or
incorporated in this prospectus supplement and the accompanying prospectus. We
are offering to sell common stock only in jurisdictions where offers and sales
are permitted. The information contained or incorporated in this prospectus
supplement and the accompanying prospectus is accurate only as of the date of
such information, regardless of the time of delivery of this prospectus
supplement and the accompanying prospectus or of any sale of our common stock.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In this prospectus supplement, unless the context otherwise requires, &#147;NTIC,&#148;
&#147;we,&#148; &#147;us,&#148; &#147;our&#148; or &#147;the company&#148; refer to Northern Technologies International
Corporation, our wholly owned subsidiaries &#151; React-NTI, LLC, NTI Facilities,&nbsp;Inc.
and Northern Technologies Holding Company, LLC, all of which are consolidated
in our financial statements.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This prospectus supplement and the documents we incorporate by
reference into this prospectus supplement contain trademarks, trade names and
service marks of ours, including our corporate logo, Zerust&#174;, EXCOR&#174;,
Natur-Tec&#174; and Polymer Energy&#153;.&#160; This
prospectus supplement and the documents we incorporate by reference into this
prospectus supplement also may contain trademarks, trade names and service
marks of others.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-1</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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<p align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;text-transform:none;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">PROSPECTUS SUPPLEMENT SUMMARY</font></b><a name="ProspectusSupplementSummary_211529"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">This summary highlights selected information about
us, this offering and information appearing elsewhere in this prospectus
supplement, in the accompanying prospectus and in the documents we incorporate
by reference. This summary is not complete and does not contain all of the
information that you should consider before investing in our common stock. To
fully understand this offering and its consequences to you, you should read
this entire prospectus supplement and the accompanying prospectus carefully,
including the information under the heading &#147;Risk Factors&#148; in this prospectus
supplement beginning on page&nbsp;S-5, and the financial statements and other
information incorporated by reference in this prospectus supplement and the
accompanying prospectus when making an investment decision.</font></i></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">About Northern Technologies International Corporation</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Our
Business</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We develop and market proprietary environmentally
beneficial products and technical services either directly or via a network of
joint ventures and independent distributors in over 50 countries.&#160; Our primary business is corrosion prevention.&#160; However, we have three emerging businesses
that have generated revenue or are expected to generate revenues in the future:
(1)&nbsp;corrosion prevention technology used in the oil and gas industry,
which we sell both directly and through joint ventures; (2)&nbsp;a product line
of compounds and finished products based on a portfolio of proprietary
bio-plastic technologies marketed under the Natur-Tec&#174; brand; and (3)&nbsp;technology
and equipment that convert plastic waste into diesel, gasoline and heavy
fractions, which is exclusively licensed and sold through our joint venture
Polymer Energy, LLC in North America and Asia.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:36.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We participate, either directly or indirectly through
holding companies, in 29 corporate joint venture arrangements in North America,
South America, Europe, Asia and the Middle East.&#160; Each of these joint ventures generally
manufactures and markets finished products in the geographic territory to which
it is assigned.&#160; While most of our joint
ventures currently sell rust and corrosion inhibiting products and custom
packaging systems, we also have joint ventures that manufacture, market and
sell our Natur-Tec&#174; products, the Polymer Energy technology and equipment that
converts plastic waste into diesel, gasoline and heavy fractions, and our
corrosion prevention technology used in the oil and gas industry.&#160; The profits of our corporate joint ventures
are shared by the respective corporate joint venture owners in accordance with
their respective ownership percentages.&#160;
We typically own 50 percent of our joint venture entities.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:36.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Corrosion Prevention</font></i></b><font size="2" style="font-size:10.0pt;">.&#160;
We have been selling our proprietary ZERUST&#174; and EXCOR&#174; rust and
corrosion inhibiting products and services to the automotive, electronics,
electrical, mechanical, military and retail consumer markets for over 30
years.&#160; We also offer worldwide on-site
technical consulting for rust and corrosion prevention issues.&#160; In North America, we market our technical
services and ZERUST&#174; products principally to industrial users by a direct sales
force and a network of independent distributors.&#160; Our technical service consultants work
directly with the end users of our products to analyze their specific needs and
develop systems to meet their technical requirements.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:36.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Corrosion Prevention for the Oil
and Gas Industry</font></i></b><font size="2" style="font-size:10.0pt;">.&#160; In January&nbsp;2009, we announced the
signing of a multi-year contract between our Brazilian joint venture (Zerust
Prevencao de Corrosao S.A.) and Petroleo Brasileiro S.A. (Petrobras) to install
and service proprietary corrosion protection technologies on the roofs of an
initial set of above ground oil storage tanks at the Petrobras REDUC refinery
in Rio de Janeiro, Brazil.&#160; At the end of
March&nbsp;2009, we announced that we had signed multiple research and
development contracts with Petrobras&#146;s research and development group at the
Leopoldo Am&#233;rico Miguez de Mello Research&nbsp;&amp; Development Center
(CENPES) pursuant to which the parties will undertake a 20-month Petrobras
funded effort to explore, understand and resolve bottom plate corrosion issues
in aboveground storage tanks. A second 12-month Petrobras sponsored project also
has started aimed at field trials of certain pipeline </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-2</font></p>

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<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents"><font style="layout-grid-mode:both;">Table of Contents</font></a></font></p>

<p style="margin:0in 0in .0001pt;text-indent:36.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">protection
technologies. These initiatives are designed to help mitigate corrosion for
critical oil and gas industry infrastructure. The projects are directly between
our company and Petrobras and will be supported primarily by our research and
development facilities in Beachwood, Ohio. Any new intellectual property
generated will be jointly owned by us and Petrobras with us having access to
commercialization rights.&#160; In addition,
we are pursuing opportunities to market our technology to other potential
customers in the oil and gas industry across several countries through our
joint venture partners and other strategic partners.&#160; We believe the sale of our new ZERUST&#174;
products to customers in the oil and gas industry will involve a long sales
cycle, likely including a one- to two-year trial period with each customer and
a slow integration process thereafter.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:36.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Bio-Plastics</font></i></b><font size="2" style="font-size:10.0pt;">.&#160;
In fiscal 2008, we began to sell a portfolio of bio-based and/or
biodegradable (compostable) polymer resin compounds and finished products under
the Natur-Tec&#174; brand.&#160; These products are
intended to reduce our customers&#146; carbon footprint and provide environmentally
sound disposal options.&#160; In recent years,
a combination of market drivers, such as higher petroleum prices, a desire to
reduce dependence on foreign oil, increased environmental awareness at the
consumer level and regulations banning the use of traditional, petroleum-based
plastics, have led to interest in sustainable, renewable resource-based and
compostable alternatives to traditional plastics.&#160; Natur-Tec&#174; bio-based and/or biodegradable
plastics are manufactured using our patented and/or proprietary technologies
and are intended to replace conventional petroleum-based plastics.&#160; The Natur-Tec&#174; bioplastics portfolio includes
flexible film, foam, rigid injection molded materials and engineered
plastics.&#160; Natur-Tec&#174; biodegradable and
compostable finished products include shopping and grocery bags, lawn and leaf
bags, can liners, pet waste collection bags, cutlery, packaging foam and coated
paper products and are engineered to be fully biodegradable in a composting
environment.&#160; Unlike competing plastic
products claiming to be &#147;degradable&#148; or &#147;oxo-degradable&#148; that only break down
into smaller plastic fragments, Natur-Tec&#174; products are designed to completely
biodegrade within 180 days in accordance with the ASTM D6400 standard for
compostable plastics and are certified 100 percent biodegradable and
compostable by the Biodegradable Products Institute.&#160; We recently announced that we have expanded
our distribution network for our Natur-Tec&#174; products by entering into
agreements with 14 new distributors and independent manufacturer&#146;s
representatives and that we have secured modest initial orders from several new
customers.&#160; These developments are
particularly encouraging following several initial setbacks that we believe
were influenced primarily by the effects of the economic recession.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:36.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Conversion of Plastic Waste into
Fuel</font></i></b><font size="2" style="font-size:10.0pt;">.&#160;&#160; Our Polymer Energy LLC joint venture markets
and sells a system that uses catalytic pyrolysis to efficiently convert plastic
waste (primarily polyolefins) into hydrocarbons (primarily a mix of diesel,
gasoline and heavy fractions,). Each unit can process up to ten tons of plastic
waste per day, and the modular design allows for easily scalable capacity. The
Polymer Energy&#153; process can handle plastic that is contaminated with other
types of waste such as metals, glass, dirt and water and the system can
tolerate up to 25 percent of other waste in the input waste stream. The output
crude oil mix is high-grade and can be further processed in a refinery or used
as an input for co-generation of electricity.&#160;
We recently announced that our Polymer Energy LLC joint venture shipped
the third commercial Polymer Energy&#153; machine from its plant in Chennai, India
to Thailand during the fourth quarter of fiscal 2009.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:36.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Financial Information</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We recently announced preliminary fourth quarter and
full year fiscal 2009 financial results.&#160;
We expect our operating results for our fourth quarter of fiscal 2009 to
continue to be adversely affected by the continued worldwide economic
recession, and in particular, the significant downturn in the global automobile
industry, which historically has been one of the primary markets for our
ZERUST&#174; rust and corrosion inhibiting products.&#160;
Although we expect our operating results for our fourth quarter of
fiscal 2009 to be similar to our operating results for the third quarter of
fiscal 2009, we expect our operating results for both the fourth quarter of
fiscal 2009 and the fiscal year ended August&nbsp;31, 2009 to be significantly
worse in </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-3</font></p>

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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents"><font style="layout-grid-mode:both;">Table of Contents</font></a></font></p>

<p style="margin:0in 0in .0001pt;text-indent:36.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">comparison
to our operating results for our fourth quarter of fiscal 2008 and the fiscal
year ended August&nbsp;31, 2008, respectively.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:36.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Company Information</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We are a Delaware corporation that was originally
organized as a Minnesota corporation in 1970.&#160;
Our principal executive office is located at 4201 Woodland Road, Circle
Pines, Minnesota 55014 and our telephone number is (763) 225-6600.&#160; Our website is located at www.ntic.com.&#160; The information on our website or any other
website is not incorporated by reference into this prospectus supplement.&#160; Our website address is included as an
inactive textual reference only.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:36.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Offering</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common stock offered by
  us</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">480,000 shares</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common stock to be
  outstanding after this offering</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,239,180 shares</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Use of proceeds</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We intend to use the
  net proceeds from the sale of the shares offered under this prospectus
  supplement for general corporate purposes, including research and development
  to further our emerging businesses, and for working capital. Please see the
  section entitled &#147;Use of Proceeds&#148; on page&nbsp;S-17 of this prospectus supplement.</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NASDAQ Global Market
  symbol</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NTIC</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.86%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Risk factors</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">An investment in
  our common stock involves a high degree of risk. Please see the section
  entitled &#147;Risk Factors&#148; beginning on page&nbsp;S-5 of this prospectus
  supplement.</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;text-indent:36.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The number of shares of our common stock to be
outstanding immediately after this offering is based on 3,759,180 shares of our
common stock outstanding as of September&nbsp;15, 2009.&#160; Unless we specifically state otherwise, the
share information in this prospectus supplement does not include:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:36.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">171,472 shares of our common stock
issuable upon the exercise of options outstanding at a weighted average
exercise price of $8.85 per share;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">244,420 shares of our common stock
available for future issuance under the Northern Technologies International
Corporation 2007 Stock Incentive Plan; and</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">82,947 shares of our common stock
available for future issuance under the Northern Technologies International
Corporation Employee Stock Purchase Plan.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-4</font></p>

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<p align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;"><a href="#TableOfContents" title="Click to go to Table of Contents"><font style="text-transform:none;">Table of Contents</font></a></font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">RISK FACTORS</font></b><a name="RiskFactors_211800"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">An investment in our common stock involves a high
degree of risk. Our business, financial condition, operating results and
prospects can be impacted by a number of factors, any one of which could cause
our actual results to differ materially from recent results or from our
anticipated future results. As a result, the trading price of our common stock
offered hereby could decline, and you could lose part or all of your
investment. You should carefully consider the risks described below with all of
the other information included in this prospectus supplement, our annual report
on Form&nbsp;10-K for the fiscal year ended August&nbsp;31, 2008, our
subsequent quarterly reports on Form&nbsp;10-Q and our other filings with the
SEC. Failure to satisfactorily achieve any of our objectives or avoid any of
the risks below would likely have a material adverse effect on our business,
financial condition, operating results and prospectus and could cause the
trading price of our common stock to decrease.</font></i></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Risks
Related to this Offering and Our Common Stock</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Since we have broad discretion in how we use the proceeds from this
offering, we may use the proceeds in ways in which you disagree.</font></i></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have not allocated specific amounts of the net proceeds from this
offering for any specific purpose. Accordingly, our management will have
significant flexibility in applying the net proceeds of this offering.
Therefore, you will be relying on the judgment of our management with regard to
the use of these net proceeds, and you will not have the opportunity, as part
of your investment decision, to assess whether the proceeds are being used
appropriately. It is possible that the net proceeds will be invested in a way
that does not yield a favorable, or any, return for our company. The failure of
our management to use such funds effectively could have a material adverse
effect on our business, financial condition, operating results and prospects.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">A large percentage of our
outstanding common stock is held by insiders, and, as a result, the trading
market for our common stock is not as liquid as the stock of other public
companies.</font></i></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As of September&nbsp;15, 2009,
we had </font><font size="2" style="font-size:10.0pt;">3,759,180 shares of our common stock outstanding and
approximately 27.8 percent of these outstanding shares were beneficially owned
by directors, executive officers, principal stockholders and their respective
affiliates. The stock of companies with a substantial amount of stock held by
insiders is usually not as liquid as the stock of other public companies where
insider ownership is not as concentrated.&#160;
Thus, the trading market for any shares of our common stock that you may
purchase in this offering may not be as liquid as the stock of other public
companies.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">The price and trading
volume of our common stock has been, and may continue to be, volatile.</font></i></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The market price and trading
volume of our common stock price has fluctuated over a wide range during the
past year or so. Since September&nbsp;1, 2008, the sale price of our common
stock ranged from a low of $4.21 to a high of $14.73, and the daily trading
volume ranged from zero shares to approximately 32,000 shares. It is likely
that the price and trading volume of our common stock will continue to
fluctuate in the future. The securities of small capitalization companies,
including our company, from time to time experience significant price and
volume fluctuations, often unrelated to the operating performance of these
companies. Securities class action litigation is sometimes brought against a
company following periods of volatility in the market price of its securities
or for other reasons. We may become the target of similar litigation.
Securities litigation, whether with or without merit, could result in
substantial costs and divert management&#146;s attention and resources, which could
harm our business, financial condition and operating results, as well as the
market price of our common stock.</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-5</font></p>

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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents"><font style="layout-grid-mode:both;">Table of Contents</font></a></font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">The trading volume of our
common stock is typically very low, leaving our common stock open to risk of
high volatility.</font></i></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The number of shares of our
common stock being traded on a daily basis is often very low and on some
trading days, there is no trading volume at all. Any stockholder wishing to
sell his, her or its stock may cause a significant fluctuation in the trading
price of our common stock. In addition, low trading volume of a stock increases
the possibility that, despite rules&nbsp;against such activity, the price of
the stock may be manipulated by persons acting in their own self-interest. We
may not have adequate market makers and market making activity to prevent
manipulation in our common stock.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">We do not intend to pay dividends for the
foreseeable future.</font></i></b></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Although in the past we have paid dividends on
our common stock, we have not done so since fiscal 2005.&#160; The payment of any future dividends will be
determined by our board of directors in light of conditions then existing,
including our earnings (if any), financial condition, cash requirements,
restrictions in financing agreements, business conditions and other
factors.&#160; The board of directors
currently does not anticipate paying a dividend on our common stock in the near
future, but rather intends to retain all of our earnings (if any) for the
foreseeable future to finance the operation and expansion of our business. As a
result, our stockholders will only receive a return on their investment in our
common stock if the market price of our common stock increases.</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">One of our principal
stockholders owns a significant percentage of our outstanding common stock and
is affiliated with our President and Chief Executive Officer and thus may be
able influence matters requiring stockholder approval, including the election
of directors, and could discourage or otherwise impede a transaction in which a
third party wishes to purchase our outstanding shares at a premium.</font></i></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As of September&nbsp;15, 2009,
Inter Alia Holding Company, or Inter Alia, beneficially owned approximately
22.7 percent of our outstanding common stock.&#160;
Inter Alia is an entity owned by G. Patrick Lynch, our President and
Chief Executive Officer and a director, as well as three other members of the
Lynch family.&#160; Mr.&nbsp;Lynch shares
voting and dispositive power of shares of our common stock held by Inter Alia
with the other owners.&#160; As a result of
his share ownership through Inter Alia and his position as President and Chief
Executive Officer and a director of our company, Mr.&nbsp;Lynch may be able to
influence the affairs and actions of our company, including matters requiring
stockholder approval, such as the election of directors and approval of
significant corporate transactions.&#160; The
interests of Mr.&nbsp;Lynch and Inter Alia may differ from the interests of our
other stockholders.&#160; This concentration
of ownership may have the effect of delaying, preventing or deterring a change
in control of our company, could deprive our stockholders of an opportunity to
receive a premium for their common stock as part of a sale or merger of our
company and may negatively affect the market price of our common stock.&#160; Transactions that could be affected by this
concentration of ownership include proxy contests, tender offers, mergers or
other purchases of common stock that could give stockholders the opportunity to
realize a premium over the then-prevailing market price for shares of our
common stock.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Future sales of our common
stock by Inter Alia or its pledgees if Inter Alia is subject to foreclosure
proceedings or margin calls could adversely affect the price of our common
stock.</font></i></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As of September&nbsp;15, 2009,
Inter Alia beneficially owned approximately 22.7 percent of our outstanding common
stock.&#160; After the death of Philip M.
Lynch, our former Chairman of the Board and Chief Executive Officer and a
former principal shareholder of Inter Alia, we learned that Mr.&nbsp;Philip M.
Lynch shortly prior to his death had pledged all of Inter Alia&#146;s shares of our
common stock to various banks.&#160; It is our
understanding that as of September&nbsp;15, 2009, 378,167 shares of our common
stock held by Inter Alia, or approximately 10.1 percent of our outstanding
common stock, remained subject to pledge agreements.&#160; Depending upon the status of the various loan
obligations of which the shares serve as collateral and the </font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-6</font></p>

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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents"><font style="layout-grid-mode:both;">Table of Contents</font></a></font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">trading price of our common stock, Inter Alia may
experience a foreclosure or margin call that could result in the sale of Inter
Alia&#146;s pledged shares of our common stock by Inter Alia&#146;s pledgees.&#160; Such sales could have a materially adverse
effect on the trading price of our common stock.&#160; Of the 378,167 shares that have been pledged
by Inter Alia, it is our understanding that one of the pledgees has made
various attempts to foreclose on the collateral of the pledged shares, and that
Inter Alia is currently involved in litigation with this pledgee and various
other parties regarding the pledged shares and the possible foreclosure and
sale of the pledged shares by the pledgee.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition, it is our
understanding that as a result of the death of Mr.&nbsp;Philip M. Lynch, Inter
Alia may decide to diversify its stock holdings by selling a portion of its
NTIC stock holdings in the public market, in private negotiated transactions
and otherwise.&#160; Other than the 90-day
lock-up agreement to which Inter Alia is subject which is described elsewhere
in this prospectus supplement, there are no contractual restrictions on the
ability of Inter Alia to sell shares of our common stock, although sales in the
public market will be subject to the volume limitations and other requirements
of SEC Rule&nbsp;144.&#160; Pursuant to the
volume limitations of Rule&nbsp;144, an affiliate of our company may sell
shares under Rule&nbsp;144 only if the shares to be sold, together with the
shares sold under Rule&nbsp;144 during the past three months, do not exceed the
greater of one percent of our outstanding shares or the average weekly trading
volume of our shares during the preceding four calendar weeks.&#160; Future sales of a significant portion of our
common stock during a short time period in the public market by Inter Alia
could adversely affect the market price of our common stock.&#160; Any adverse effect on the market price of our
common stock could make it difficult for us to raise additional capital through
sales of equity securities at a time and at a price our board of directors
deems appropriate.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Future equity issuances by us may
have dilutive and other effects on our existing stockholders.</font></i></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As of September&nbsp;15, 2009, there were 3,759,180 shares of our
common stock outstanding, and in addition, security holders held options,
which, if vested and exercised, would obligate us to issue up to 171,472
additional shares of common stock.&#160; It is
expected that such shares, when we issue them upon exercise, will be available
for immediate resale in the public market.&#160;
The market price of our common stock could fall as a result of sales of
these shares of common stock due to the increased number of shares available
for sale in the market.&#160; In addition, we
have a shelf registration statement, which subject to certain limitations,
permits us to sell up to approximately $50 million of our securities, some or
all of which may be shares of our common stock or securities convertible into
or exercisable for shares of our common stock, and all of which would be
available for resale in the public market. Any issuances by us of equity
securities may be at or below the prevailing market price of our common stock
and may have a dilutive impact on our existing stockholders. These issuances or
other dilutive issuances also would cause our net income per share, if any, to
decrease in future periods. As a result, the market price of our common stock
could decrease.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Investors in this offering may
pay a higher price than the book value of our common stock.</font></i></b></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If you purchase shares of our common stock in this offering, you will
incur an immediate and substantial dilution in net tangible book value per
share, after giving effect to the sale by us of the 480,000 shares of common
stock offered in this offering at the price to the public of $7.40 per share.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Risks Related to Our Business
and Financial Condition</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Current
worldwide economic conditions have adversely affected and may continue to
adversely affect our business, operating results and financial condition.</font></i></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">General
worldwide economic conditions have experienced a significant downturn due to
the effects of the subprime lending crisis, general credit market crisis,
collateral effects on the finance and banking industries, concerns about
inflation, slower </font></b><font size="2" style="font-size:10.0pt;font-weight:normal;">economic activity, decreased consumer confidence, reduced corporate
profits and capital spending, adverse business conditions and liquidity
concerns.&#160; Our business has </font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-7</font></p>

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<p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">not been
immune.&#160; The current worldwide economic
crisis has adversely affected and may continue to adversely affect demand for
our products, including in particular our ZERUST&#174; products from our automotive
customers.&#160; The worldwide economic crisis
also has had and may continue to have other adverse implications on our
business.&#160; For example, the ability of
our customers to borrow money from their existing lenders or to obtain credit
from other sources to purchase our products has been and may continue to be
impaired.&#160; For example, we believe that
the U.S. economic recession has adversely affected the ability of our principal
Natur-Tec</font></b><font size="2" style="font-size:10.0pt;">&#174; </font><font size="2" style="font-size:10.0pt;font-weight:normal;">distributor to purchase and distribute Natur-Tec</font><font size="2" style="font-size:10.0pt;">&#174; </font><font size="2" style="font-size:10.0pt;font-weight:normal;">products, which has
adversely affected our sales of Natur-Tec</font><font size="2" style="font-size:10.0pt;">&#174; </font><font size="2" style="font-size:10.0pt;font-weight:normal;">products.&#160; In addition, although we maintain allowances
for doubtful accounts for estimated losses resulting from the inability</font><font size="2" style="font-size:10.0pt;font-weight:normal;"> of our customers to make
required payments and such losses have historically been within our
expectations and the provisions established, we cannot guarantee that we will
continue to experience the same loss rates that we have in the past, especially
given the current turmoil in the worldwide economy.&#160; A significant change in the liquidity or
financial condition of our customers could cause unfavorable trends in our
receivable collections and additional allowances may be required, which could
adversely affect our operating results.&#160;
In addition, the worldwide economic crisis may adversely impact the
ability of suppliers to provide us with materials and components, which could
adversely affect our business and operating results.&#160; Like many other stocks, our stock price has
decreased recently and if investors have concerns that our business, operating
results, financial condition and prospects will be negatively impacted by a
worldwide economic downturn, our stock price could further decrease.</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">The
worldwide automotive industry has experienced a significant downturn in sales
recently resulting in decreased demand for our ZERUST&#174; products, which has
adversely affected and may continue to adversely affect our net sales from our
North American operations and our other operating results.</font></i></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">During
the nine months ended May&nbsp;31, 2009, more than 90 percent of our
consolidated net sales from our North American operations were derived from the
sales of our ZERUST&#174; rust and corrosion inhibiting packaging products and
services.&#160; A significant portion of these
products and services were sold to customers in the automotive industry and to
a lesser extent to customers in the electronics, electrical, mechanical,
military and retail consumer markets.&#160;
The worldwide automotive industry has experienced a significant downturn
in sales recently primarily as a result of the current worldwide economic
recession, and is not expected to improve in the foreseeable future, which may
result in a continued adverse effect on our net sales from our North American
operations and our other operating results.&#160;
While we intend to increase marketing efforts of our ZERUST&#174; products
and services to customers in other target industries, no assurance can be
provided that we will be successful in doing so or will recognize increased
sales from such new target markets.</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-style:italic;font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our liquidity and financial position rely on the
receipt of fees for technical and other support services and dividend
distributions from our corporate joint ventures.&#160; No assurance can be provided that we will
continue to receive such fees and dividend distributions in amounts we
historically have received or anticipate to receive.</font></i></b></p>

<p style="font-style:italic;font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></b></p>

<p style="font-style:italic;font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:normal;">We conduct business, either directly or indirectly through holding
companies, in 29 corporate joint venture arrangements in North America, South
America, Europe, Asia and the Middle East.&#160;
Each of these joint ventures manufactures, markets and sells finished
products in the geographic territory that it is assigned.&#160; Prior to fiscal 2009, our international
business had expanded significantly during the past several fiscal years.&#160; Total net sales of all of our joint ventures
increased 25.7 percent to $101.3 million during fiscal 2008 as compared to
fiscal 2007.&#160; However, total net sales of
all of our joint ventures decreased 41.6 percent during the nine months ended May&nbsp;31,
2009 compared to the nine months ended May&nbsp;31, 2008 primarily as a result
of decreased demand for ZERUST&#174; products due to the global economic slowdown
and, to a lesser extent, fluctuations in the foreign currency exchange rate of
the U.S. dollar compared to other currencies in which our joint ventures
conduct business.&#160; Our receipt of funds
as a result of sales by our joint ventures is dependent upon our receipt of
fees for technical and other support services that we provide to our joint </font></i></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-8</font></p>

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<p style="font-style:italic;font-weight:bold;margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:normal;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table
of Contents</a></font></i></b></p>

<p style="font-style:italic;font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></b></p>

<p style="font-style:italic;font-weight:bold;margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:normal;">ventures based on the
revenues of the joint ventures and our receipt of dividend distributions from
the joint ventures.&#160; As a result of the
increase in total net sales of our joint ventures in fiscal 2008 as compared to
fiscal 2007, our fee income for technical and support services increased 19.7
percent to approximately $6.0 million in fiscal 2008 as compared to fiscal
2007.&#160; However, as a result of the decrease
in total net sales of our joint ventures during the nine months ended May&nbsp;31,
2009 as compared to the nine months ended May&nbsp;31, 2008, our fee income for
technical and support services decreased 39.2 percent to approximately $2.8
million during the nine months ended May&nbsp;31, 2009 as compared to the nine
months ended May&nbsp;31, 2008.&#160; No
assurance can be provided that our international business as conducted through
our corporate joint ventures will improve or be successful in the future.&#160; Our liquidity and financial position rely on
our receipt of fee income for technical and support services and dividend
distributions from our corporate joint ventures.&#160; During fiscal 2008, we received approximately
$2.0 million in dividends received from our corporate joint ventures.&#160; During the nine months ended May&nbsp;31,
2009, we received approximately $2.3 million in dividends received from our
corporate joint ventures. Because we typically own only 50 percent or less of
our joint venture entities, we do not control the decisions of these entities
regarding whether to pay dividends and how much in dividends should be paid in
any given year.&#160; Thus, we cannot
guarantee that any of our joint ventures will pay dividends in any given
year.&#160; The failure of our joint ventures
to declare dividends or our failure to receive fees for technical and other
support services in amounts typically expected by us could adversely affect our
liquidity and financial position.</font></i></b></p>

<p style="font-style:italic;font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">We have invested and intend to invest additional research and
development and marketing efforts and resources to expand our existing product
lines, such as biodegradable and compostable plastics and plastic recycling
technology, and the distribution of our existing products into new target
markets, such as the oil and gas industry.&#160;
No assurance can be provided, however, that our investments in such new
product lines and markets will be successful and result in additional revenue.</font></i></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In an effort to increase net sales, we have expanded our corrosion
prevention solution products into new markets, such as the oil and gas
industry, and expanded our product lines to include other products, such as
biodegradable and compostable plastics and plastic recycling technology.&#160; We spent approximately $2.2 million in the
nine months ended May&nbsp;31, 2009 in connection with our research and
development activities and we anticipate that we spent between $2.8 million and
$3.0 million in total during fiscal 2009 on research and development activities
related to our new technologies. We expect to continue to invest additional
research and development and marketing efforts and resources into these new
product lines and markets.&#160; No assurance
can be provided, however, that our efforts and investments into these new
businesses will be successful or that we will be successful in obtaining additional
revenue.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Our new businesses may require additional capital in the future, which
may not be available or may be available only on unfavorable terms.&#160; In addition, any equity financings may be
dilutive to our stockholders.</font></i></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The expansion of our corrosion prevention solution products into new
markets, such as the oil and gas industry, and the expansion of our product
lines to include other products, such as additional biodegradable and
compostable plastics and plastic recycling technology will require significant
resources during fiscal 2010 and beyond.&#160;
To the extent that our existing capital, including amounts available
under our demand line of credit or other then existing financing arrangements,
is insufficient to meet these requirements, we may raise additional capital
through financings or additional borrowings. Any equity or debt financing, if
available at all, may be on terms that are not favorable to us and any equity
financings could result in dilution to our stockholders.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-9</font></p>

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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table
of Contents</a></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Our
new businesses are risky and may not prove to be successful, which could harm
our operating results, financial condition and prospects.</font></i></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We are undertaking the </font><font size="2" style="font-size:10.0pt;">expansion of our corrosion prevention
solution products into new markets, such as the oil and gas industry, and the
expansion of our product lines to include other products, such as additional
biodegradable and compostable plastics and plastic recycling technology, either directly or through joint ventures.&#160; Such new businesses are risky and subject to
all of the risks inherent in the establishment of a new business enterprise,
including:</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:36.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the absence of an operating history;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the lack of commercialized
products;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the lack of market acceptance of
new products;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">expected substantial and
continual losses for such businesses for the foreseeable future;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the lack of manufacturing
experience and limited marketing experience;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">an expected reliance on third
parties for the commercialization of some of the proposed products;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">a competitive environment
characterized by numerous, well-established and well-capitalized competitors;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">insufficient capital and other
resources; and</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">reliance on key personnel.</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Disruptions
in the global financial markets could impact the ability of our counterparties
and others to perform their obligations to us and our ability to obtain any
additional future financing if needed or desired.</font></i></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Disruptions
in the global financial markets, including the bankruptcy, failure, collapse or
sale of various financial institutions and an unprecedented level of
intervention from the United States and other governments and the related
liquidity crisis, have considerably disrupted the credit and capital markets.
Our credit risk consists of cash and cash equivalents, short-term investments,
trade receivables, lending commitments and insurance relationships in the
ordinary course of business. We place cash, cash equivalents and short-term
investments with high quality financial institutions, which we monitor
regularly and take action where possible to mitigate risk. We do not hold
investments in auction rate securities, mortgage backed securities, collateralized
debt obligations, individual corporate bonds, special investment vehicles or
any other investments which have been directly impacted by the worldwide
financial crisis. Our insurance programs are with carriers that remain highly
rated and we have no significant pending claims. However, the disruptions in
the credit and capital markets could cause our counterparties and others to
breach their obligations or commitments to us under our contracts with them. To
date, our demand line of credit with National City Bank remains available to
us.&#160; However, in the event we needed or
desired additional financing, we may be unable to obtain it by borrowing money
in the credit markets and/or raising money in the capital markets.</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">A
significant portion of our earnings is the result of our income from our
international corporate joint ventures and holding companies. Our international
business conducted through our corporate joint ventures and holding companies
requires management attention and financial resources and exposes us to
difficulties and risks presented by international economic, political, legal,
accounting and business factors.</font></i></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-10</font></p>

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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table
of Contents</a></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">We
sell products and technical services directly and via a network of independent
distributors, manufacturers&#146; representatives and joint ventures in over 50
countries, including countries in North America, South America, Europe, Asia
and the Middle East.&#160; One of our
strategic objectives is the continued expansion of our international
operations.&#160; The expansion of our
existing international operations and entry into additional international
markets require management attention and financial resources.</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">The
sale and shipping of products and services across international borders subject
us to extensive U.S. and foreign governmental trade regulations. Compliance
with such regulations is costly and exposes us to penalties for non-compliance.
Other laws and regulations that can significantly impact us include various
anti-bribery laws, including the U.S. Foreign Corrupt Practices Act, laws
restricting business with suspected terrorists and anti-boycott laws. Any
failure to comply with applicable legal and regulatory obligations could impact
us in a variety of ways that include, but are not limited to, significant
criminal, civil and administrative penalties, including imprisonment of
individuals, fines and penalties, denial of export privileges, seizure of
shipments and restrictions on certain business activities. Also, the failure to
comply with applicable legal and regulatory obligations could result in the
disruption of our shipping and sales activities.</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Many
of the countries in which we sell our products directly or indirectly through
our corporate joint ventures, are, to some degree, subject to political,
economic and/or social instability.&#160; Our
international operations expose us and our joint venture partners,
representatives, agents and distributors to risks inherent in operating in
foreign jurisdictions.&#160; These risks
include:</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">difficulties in managing and
staffing international operations and the required infrastructure costs
including legal, tax, accounting, information technology;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the imposition of additional
U.S. and foreign governmental controls or regulations, new trade restrictions
and restrictions on the activities of foreign agents, representatives and
distributors, the imposition of costly and lengthy export licensing
requirements and changes in duties and tariffs, license obligations and other
non-tariff barriers to trade;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the imposition of U.S. and/or
international sanctions against a country, company, person or entity with whom
we do business that would restrict or prohibit continued business with the
sanctioned country, company, person or entity;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">pricing pressure that we or our
corporate joint ventures may experience internationally<i>;</i></font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">laws and business practices
favoring local companies;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">currency exchange rate
fluctuations;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">longer payment cycles and
difficulties in enforcing agreements and collecting receivables through certain
foreign legal systems;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">difficulties in enforcing or
defending intellectual property rights; and</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">multiple, changing and often
inconsistent enforcement of laws and regulations.</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Fluctuations
in foreign currency exchange rates could result in declines in our earnings (if
any) and changes in our foreign currency translation adjustments.</font></i></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Because
the functional currency of our foreign operations and investments in our
foreign corporate joint ventures and holding companies is the applicable local
currency, we are exposed to foreign currency exchange rate risk arising from
transactions in the normal course of business.&#160;
Our principal exchange rate </font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-11</font></p>

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</div>
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<div>

<p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">exposure is
with the Euro, the Japanese yen, Korean won and the English pound against the
U.S. dollar.&#160; Our fees for technical
support and other services and dividend distributions from these foreign entities
are paid in foreign currencies and thus fluctuations in foreign currency
exchange rates could result in declines in our earnings (if any).&#160; Since our investments in our corporate joint
ventures and holding companies are accounted for using the equity method, any
changes in foreign currency exchange rates would be reflected as a foreign
currency translation adjustment and would not change our equity in income of
joint ventures and holding companies reflected in our consolidated statements
of income. &#160;We do not hedge against our
foreign currency exchange rate risk.</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Our
compliance with U.S. generally accepted accounting principles and any changes
in such principles might adversely affect our operating results and financial
condition.&#160; Any requirement to
consolidate our corporate joint ventures or subject them to compliance with the
internal control provisions of the Sarbanes-Oxley Act of 2002 could adversely
affect our operating results and financial condition.</font></i></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">We
adopted Financial Accounting Standards Board (FASB) Interpretation No.&nbsp;46R
(FIN 46R), <i>&#147;Consolidation of Variable Interest Entities, a
revision of FIN 46&#148;</i> effective as of May&nbsp;31, 2005.&#160; As a result of FIN 46R, we consolidated
React-NTI LLC, one of our corporate joint ventures.&#160; If the interpretation of FIN 46R were to
change and we were required to fully consolidate our remaining corporate joint
ventures or if our corporate joint ventures otherwise would be required to be
in compliance with the internal control provisions of the Sarbanes-Oxley Act of
2002, we would incur significant additional costs.&#160; We estimate that the costs for each of our
corporate joint ventures to become Sarbanes-Oxley compliant would range between
$150,000 to $500,000 and that annual maintenance expenses would range from
$50,000 to $100,000 per year per corporate joint venture thereafter.&#160; In addition, other accounting pronouncements
issued in the future could have a material cost associated with our
implementation of such new accounting pronouncements.</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Our
business, properties and products are subject to governmental regulation and
taxes, compliance with which may require us to incur expenses or modify our
products or operations, and which may expose us to penalties for
non-compliance.&#160; Governmental regulation
also may adversely affect the demand for some of our products and our operating
results.</font></i></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Our
business, properties and products are subject to a wide variety of
international, federal, state and local laws, rules, taxes and regulations
relating to the protection of the environment, natural resources, and worker
health and safety and the use, management, storage, and disposal of hazardous
substances, wastes and other regulated materials.&#160; These laws, rules&nbsp;and regulations may
affect the way in which we conduct our operations, and the failure to comply
with these regulations could lead to fines and other penalties.&#160; Because we own and operate real property,
various environmental laws also may impose liability on us for the costs of
cleaning up and responding to hazardous substances that may have been released
on our property, including releases unknown to us.&#160; These environmental laws and regulations also
could require us to pay for environmental remediation and response costs at
third-party locations where we disposed of or recycled hazardous
substances.&#160; Our future costs of
complying with the various environmental requirements, as they now exist or may
be altered in the future, could adversely affect our financial condition and
operating results.&#160; We also are subject
to other international, federal and state laws, rules&nbsp;and regulations, the
future non-compliance with which may harm our business or may adversely affect
the demand for some of our products.&#160;
Changes in laws and regulations, including changes in accounting
standards and taxation changes, including tax rate changes, new tax laws,
revised tax law interpretations, also may adversely affect our operating
results.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-12</font></p>

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</div>
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<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table
of Contents</a></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Fluctuations
in our effective tax rate could have a significant impact on our financial
position, results of operations or cash flows.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">The mix of
pre-tax income or loss among the tax jurisdictions in which we operate that
have varying tax rates could impact our effective tax rate. We are subject to
income taxes as well as non-income based taxes, in both the United States and
various foreign jurisdictions. Judgment is required in determining the
worldwide provision for income taxes, other tax liabilities, interest and
penalties. Future events could change management&#146;s assessment.&#160; We operate within multiple taxing
jurisdictions and are subject to tax audits in these jurisdictions.&#160; These audits can involve complex issues,
which may require an extended period of time to resolve.&#160; We also have made assumptions about the
realization of deferred tax assets.&#160;
Changes in these assumptions could result in a valuation allowance for
these assets.&#160; Final determination of tax
audits or tax disputes may be different from what is currently reflected by our
income tax provisions and accruals.&#160; In
addition, President Obama&#146;s administration has announced proposals for a new
U.S. tax legislation that, if adopted, could adversely affect our tax rate.</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">We
intend to grow our business through additional joint ventures, alliances and
acquisitions, which could be risky and harm our business.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">One
of our growth strategies is to expand our business by entering into additional
joint ventures and alliances and acquiring businesses, technologies and
products that complement or augment our existing products.&#160; The benefits of a joint venture, alliance or
acquisition may take more time than expected to develop, and we cannot
guarantee that any future joint ventures, alliances or acquisitions will in
fact produce the intended benefits. In addition, joint ventures, alliances and
acquisitions involve a number of risks, including:</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">diversion of management&#146;s
attention;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">difficulties in assimilating the
operations and products of a new joint venture or acquired business or in
realizing projected efficiencies, cost savings and revenue synergies;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">potential loss of key employees
or customers of the new joint venture or acquired business or adverse effects
on existing business relationships with suppliers and customers;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">adverse impact on overall
profitability if the new joint venture or acquired business does not achieve
the financial results projected in our valuation models;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">reallocation of amounts of
capital from other operating initiatives and/or an increase in our leverage and
debt service requirements to pay the joint venture capital contribution or the
acquisition purchase price, which could in turn restrict our ability to access
additional capital when needed or to pursue other important elements of our
business strategy;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">inaccurate assessment of
undisclosed, contingent or other liabilities or problems and unanticipated
costs associated with the new joint venture or acquisition; and</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">incorrect estimates made in the
accounting for acquisitions, occurrence of non-recurring charges and write-off
of significant amounts of goodwill that could adversely affect our operating
results.</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Our ability
to grow through joint ventures, alliances and acquisitions will depend, in
part, on the availability of suitable opportunities at an acceptable cost, our
ability to compete effectively for these opportunities and the availability of capital
to complete such transactions.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-13</font></p>

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</div>
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<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table
of Contents</a></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">We
rely on our independent distributors, manufacturer&#146;s sales representatives and
corporate joint ventures to market and sell our products.</font></i></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">In
addition to our direct sales force, we rely on our independent distributors,
manufacturer&#146;s sales representatives and corporate joint ventures to market and
sell our products in the United States and internationally.&#160; Our independent distributors, manufacturer&#146;s
sales representatives and joint venture partners might terminate their
relationship with us, or devote insufficient sales efforts to our
products.&#160; We do not control our independent
distributors, manufacturer&#146;s sales representatives and joint ventures and they
may not be successful in implementing our marketing plans. Our failure to
maintain our existing relationships with our independent distributors,
manufacturer&#146;s sales representatives and joint ventures, or our failure to
recruit and retain additional skilled independent distributors, manufacturer&#146;s
sales representatives and joint venture partners could have an adverse effect
on our operations.</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">We
have very limited staffing and will continue to be dependent upon key
employees.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Our
success is dependent upon the efforts of a small management team and group of
employees.&#160; Our future success will
depend in large part on our ability to retain these individuals and identify,
attract and retain other highly qualified managerial, technical, sales and
marketing and customer service personnel. Competition for these individuals is
intense, especially in the markets in which we operate.&#160; We may not succeed in identifying, attracting
and retaining these personnel.&#160; Our
current management, other than our President and Chief Executive Officer, does
not have any material stock ownership in our company or any contractual
obligation to maintain their employment with us.&#160; The loss or interruption of services of any
of our key personnel, including in particular our technical personnel; the
inability to identify, attract or retain qualified personnel in the future;
delays in hiring qualified personnel; or any employee slowdowns, strikes or similar
actions could make it difficult for us to manage our business and meet key
objectives, which could harm our business, financial condition and operating
results.</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">We
rely on our management information systems for inventory management,
distribution and other functions.&#160; If
these information systems fail to adequately perform these functions or if we
experience an interruption in their operation, our business and operating
results could be adversely affected.</font></i></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">The
efficient operation of our business is dependent on our management information
systems.&#160; We rely on our management
information systems to effectively manage accounting and financial functions;
manage order entry, order fulfillment and inventory replenishment processes;
and to maintain our research and development data.&#160; The failure of management information systems
to perform as anticipated could disrupt our business and product development
and could result in decreased sales, causing our business and operating results
to suffer.&#160; In addition, our management
information systems are vulnerable to damage or interruption from natural or
man-made disasters, terrorist attacks and attacks by computer viruses or
hackers, or power loss or computer systems, Internet, telecommunications or
data network failure.&#160; Any such
interruption could adversely affect our business and operating results.</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Our
reliance upon patents, trademark laws, trade secrets and contractual provisions
to protect our proprietary rights may not be sufficient to protect our
intellectual property from others who may sell similar products.</font></i></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">We
hold patents relating to various aspects of our products and believe that
proprietary technical know-how is critical to many of our products.&#160; Proprietary rights relating to our products
are protected from unauthorized use by third parties only to the extent that
they are covered by valid and enforceable patents or are maintained in
confidence as trade secrets.&#160; We cannot
be certain that we will be issued any patents from any pending or future patent
applications owned by or licensed to us or that the claims allowed under any
issued patents will be sufficiently broad to protect our technology.&#160; In the absence of patent protection, we </font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-14</font></p>

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</div>
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<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table
of Contents</a></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">may be
vulnerable to competitors who attempt to copy our products or gain access to
our trade secrets and know-how.&#160; Our
competitors may initiate litigation to challenge the validity of our patents,
or they may use their resources to design comparable products that do not
infringe our patents.&#160; We may incur
substantial costs if our competitors initiate litigation to challenge the
validity of our patents or if we initiate any proceedings to protect our
proprietary rights and if the outcome of any such litigation is unfavorable to
us, our business and operating results could be materially adversely affected.</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">In
addition, we rely on trade secrets and proprietary know-how that we seek to
protect, in part, by confidentiality agreements with our employees, and
consultants.&#160; These agreements may be
breached and we may not have adequate remedies for any such breach.&#160; Even if these confidentiality agreements are
not breached, our trade secrets may otherwise become known or be independently
developed by competitors.</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">If
we are unable to continue to enhance existing products and develop and market
new products that respond to customer needs and achieve market acceptance, we
may experience a decrease in demand for our products, and our business could
suffer.</font></i></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">One
of our strategies is to enhance our existing products and develop and market
new products that respond to customer needs.&#160;
We may not be able to compete effectively with our competitors unless we
can keep up with existing or new products in the markets in which we
compete.&#160; Product development requires
significant financial and other resources. Although in the past we have
implemented lean manufacturing and other productivity improvement initiatives
to provide investment funding for new products, no assurance can be provided
that we will be able to continue to do so in the future.&#160; Product improvements and new product
introductions also require significant planning, design, development and
testing at the technological, product, and manufacturing process levels and we
may not be able to timely develop product improvements or new products.&#160; Our competitors&#146; new products may beat our
products to market, may be more effective or less expensive than our products
or render our products obsolete.&#160; Any new
products that we may develop may not receive market acceptance or otherwise
generate any meaningful net sales or profits for us relative to our expectations,
based on, among other things, existing and anticipated investments in
manufacturing capacity and commitments to fund advertising, marketing,
promotional programs, and research and development.</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">We
face intense competition in almost all of our product lines, including from
competitors that have substantially greater resources than we do. No assurance
can be provided that we will be able to compete effectively, which would harm
our business and operating results.</font></i></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-style:italic;font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:normal;">Our products are sold in highly competitive markets throughout the
world.&#160; The principal competitive factors
in our markets are pricing, product innovation, quality and reliability,
product support and customer service and reputation.&#160; We often compete with numerous manufacturers,
many of which have substantially greater financial, marketing, and other
resources than we do.&#160; As a result, they
may be able to adapt more quickly to new or emerging technologies and changes
in customer requirements, or to devote greater resources to the promotion and sale
of their products than we can.&#160; In addition,
competition could increase if new companies enter the market or if existing
competitors expand their product lines or intensify efforts within existing
product lines.&#160; Our current products,
products under development and our ability to develop new and improved products
may be insufficient to enable us to compete effectively with our
competitors.&#160; No assurance can be
provided that we will be able to compete effectively, which would harm our
business and operating results.</font></i></b></p>

<p style="font-style:italic;font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Our
dependence on key suppliers puts us at risk of interruptions in the
availability of our products, which could reduce our net sales and adversely
affect our operating results. In addition, increases in prices for raw
materials and components used in our products could adversely affect our
operating results.</font></i></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">We rely on a limited number of suppliers for certain raw
materials and components used in our products. For reasons of quality
assurance, cost effectiveness or availability, we procure certain raw materials
</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-15</font></p>

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<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table
of Contents</a></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">and
components from sole and limited source suppliers. We generally acquire such
raw materials and components through purchase orders placed in the ordinary
course of business, and as a result we do not have a significant inventory of
these materials and components and do not have any guaranteed or contractual
supply arrangements with many of these suppliers. Our dependence on third-party
suppliers involves several risks, including limited control over pricing,
availability, quality and delivery schedules, as well as manufacturing yields
and costs. Suppliers of raw materials and components may decide, or be
required, for reasons beyond our control to cease supplying raw materials and
components to us or to raise their prices. Shortages of raw materials, quality
control problems, production capacity constraints or delays by suppliers could
negatively affect our ability to meet our production obligations and result in
increased prices for affected parts. Any such shortage, constraint or delay may
result in delays in shipments of products or components, which could adversely
affect our net sales and operating results. Increases in prices for raw
materials and components used in our products could also adversely affect our
operating results.</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">We
are exposed to risks relating to our evaluation of our internal control over
financial reporting as required by Section&nbsp;404 of the Sarbanes-Oxley Act.</font></i></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Changing laws, regulations and standards relating to
corporate governance and public disclosure, including the Sarbanes-Oxley Act of
2002 and related and other recent regulations implemented by the SEC and the
NASDAQ Stock Market, are creating challenges for publicly-held companies,
including us. We are committed to maintaining high standards of corporate
governance and public disclosure. As a result, our efforts to comply with
evolving laws, regulations and standards have resulted in, and are likely to
continue to result in, increased general and administrative expenses and a
diversion of management time and attention from revenue-generating activities
to compliance activities. In particular, our efforts to comply with Section&nbsp;404
of the Sarbanes-Oxley Act of 2002 and the related regulations regarding our
assessment of our internal control over financial reporting have required and
will continue to require the expenditure of significant financial and
managerial resources, especially since our management&#146;s report on our internal
control over financial reporting will be subject to attestation by our
independent registered public accounting firm commencing with our fiscal year
ending August&nbsp;31, 2010.&#160; Although
our management concluded that our internal control over financial reporting was
effective as of August&nbsp;31, 2008, no assurance can be provided that our
management will reach a similar conclusion as of a later date or that our
independent registered public accounting firm will agree with management&#146;s
conclusions.</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Our
business is subject to a number of other miscellaneous risks that may adversely
affect our operating results, financial condition or business.</font></i></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Our business is subject to a number of other miscellaneous
risks that may adversely affect our operating results, financial condition or
business, such as natural or man-made disasters or global pandemics that may
result in shortages of raw materials, higher commodity costs, an increase in
insurance premiums and other adverse effects on our business; the continued
threat of terrorist acts and war that may result in heightened security and
higher costs for import and export shipments of components or finished goods;
and the ability of our management to adapt to unplanned events.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-16</font></p>

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</div>
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<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table
of Contents</a></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</font></b><a name="SpecialNoteRegardingForwardlookin_211620"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This prospectus supplement, the accompanying prospectus and the
documents that we incorporate by reference herein and therein, contain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. All statements other than statements of
historical facts included in or incorporated by reference into this prospectus
supplement and the accompanying prospectus supplement that address activities,
events or developments that we expect, believe or anticipate will or may occur
in the future are forward-looking statements.&#160;
Our forward-looking statements generally include statements about our
plans, objectives, strategies and prospects regarding, among other things, our
business, results of operations, liquidity and financial condition.&#160; In some cases, we have identified these
forward-looking statements with words like &#147;believe,&#148; &#147;may,&#148; &#147;could,&#148; &#147;might,&#148; &#147;possible,&#148;
&#147;potential,&#148; &#147;project,&#148; &#147;will,&#148; &#147;should,&#148; &#147;expect,&#148; &#147;intend,&#148; &#147;plan,&#148; &#147;predict,&#148;
&#147;anticipate,&#148; &#147;estimate,&#148; &#147;approximate,&#148; &#147;contemplate&#148; or &#147;continue&#148; or the
negative of these words or other words and terms of similar meaning.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Forward-looking statements involve risks and uncertainties.&#160; These uncertainties include factors that
affect all businesses as well as matters specific to us.&#160; Some of the factors known to us that could
cause our actual results to differ materially from what we have anticipated in
our forward-looking statements include:&#160;
the effect of current worldwide economic conditions on our business; the
effect of the significant downturn in the U.S. automotive industry on our business;
our dependence on the success of our joint ventures and technical fees and
dividend distributions that we receive from them; our relationships with our
joint ventures and our ability to maintain those relationships; risks
associated with our international operations and exposure to fluctuations in
foreign currency exchange rates; fluctuations in the cost and availability of
raw materials, including resins and other commodities; our investments in
research and development efforts and our need for additional capital to support
such efforts; acceptance of our existing and new products; increased
competition; the success of our emerging new businesses; our reliance upon and
our relationships with our distributors, independent sales representatives and
corporate joint ventures; our reliance upon suppliers; the costs and effects of
complying with changes in tax, fiscal, government and other regulatory
policies, including rules&nbsp;relating to environmental, health and safety
matters; the costs and effects of outstanding litigation; unforeseen product
quality or other problems in the development, production and usage of new and
existing products; loss of or changes in executive management or key employees;
ability of management to manage around unplanned events; our reliance on our
intellectual property rights and the absence of infringement of the
intellectual property rights of others; and our reliance upon our management
information systems.&#160; We refer you to the
section entitled &#147;Risk Factors&#148; included elsewhere in this prospectus
supplement and in the accompanying prospectus and under similar sections in the
documents we incorporate by reference herein and therein.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We wish to caution readers not to place undue reliance on any
forward-looking statement that speaks only as of the date made and to recognize
that forward-looking statements are predictions of future results, which may
not occur as anticipated.&#160; Actual results
could differ materially from those anticipated in the forward-looking
statements and from historical results, due to the risks and uncertainties
described under the section entitled &#147;Risk Factors&#148; included elsewhere in this
prospectus supplement and in the accompanying prospectus and under similar
sections in the documents we incorporate by reference into this prospectus, as
well as others that we may consider immaterial or do not anticipate at this
time.&#160; Although we believe that the
expectations reflected in our forward-looking statements are reasonable, we do
not know whether our expectations will prove correct.&#160; We assume no obligation to update
forward-looking statements to reflect actual results or changes in factors or
assumptions affecting such forward-looking statements, except if we otherwise
are required by law.&#160; We advise you,
however, to consult any further disclosures we make on related subjects in our
annual reports on Form&nbsp;10-K, quarterly reports on Form&nbsp;10-Q and
current reports on Form&nbsp;8-K we file with or furnish to the SEC.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-17</font></p>

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<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table
of Contents</a></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">USE OF PROCEEDS</font></b><a name="UseOfProceeds_211630"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We expect the net proceeds from this offering to be up to approximately
$3.2 million after deducting the placement agent fees, as described in &#147;Plan of
Distribution,&#148; and other estimated offering expenses payable by us, which
include legal, accounting, filing fee and various other fees and expenses
associated with registering and listing the shares of our common stock offered
in this offering. We intend to use the net proceeds from the sale of the shares
offered under this prospectus supplement for general corporate purposes,
including research and development to further our emerging businesses, and for
working capital.&#160; As of the date of this
prospectus supplement, we cannot specify with certainty all of the particular
uses of the proceeds from this offering. Accordingly, our management will have
significant discretion and flexibility in applying the net proceeds from the
sale of the shares of our common stock offered in this offering.&#160; Pending use of the net proceeds as described
above, we intend to invest the net proceeds in short-term, interest-bearing,
investment-grade marketable securities or money market obligations.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">DILUTION</font></b><a name="Dilution_211634"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our net tangible book value on May&nbsp;31, 2009 was approximately
$22.8 million, or approximately $6.09 per share of common stock.&#160; Net tangible book value per share is
determined by dividing our net tangible book value, which consists of tangible
assets less total liabilities, by the number of shares of common stock
outstanding on that date.&#160; Without taking
into account any other changes in our net tangible book value after May&nbsp;31,
2009, other than to give effect to our receipt of the estimated net proceeds
from the sale of 480,000 shares of common stock at an offering price of $7.40
per share of common stock, less the placement agent fees and our estimated
offering expenses, our net tangible book value as of May&nbsp;31, 2009, after
giving effect to the items above, would have been approximately $26.0 million,
or $6.14 per share.&#160; This represents an
immediate increase in net tangible book value of $0.05 per share of common
stock to our existing stockholders and an immediate dilution in net tangible
book value of $1.26 per share of common stock to purchasers of common stock in
this offering. The following table illustrates this per share dilution:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="74%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:74.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Public
  offering price per share of common stock</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:8.7%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.40</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="74%" valign="bottom" style="padding:0in 0in 0in 0in;width:74.0%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net
  tangible book value per share as of May&nbsp;31, 2009</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.7%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.09</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="74%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:74.0%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Increase
  in net tangible book value per share attributable to this offering</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:8.7%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0.05</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="74%" valign="bottom" style="padding:0in 0in 0in 0in;width:74.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pro
  forma net tangible book value per share as of May&nbsp;31, 2009, after giving
  effect to this offering</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" colspan="2" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="8%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:8.7%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.14</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="74%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:74.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dilution
  in net tangible book value per share to new investors in this offering</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:1.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:8.7%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.26</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;text-indent:36.7pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:36.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The above table is based on 3,754,597 shares of our
common stock outstanding as of May&nbsp;31, 2009 and excludes, as of May&nbsp;31,
2009:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:36.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">149,472 shares of our common stock
issuable upon the exercise of options outstanding at a weighted average
exercise price of $8.04 per share;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">278,420 shares of our common stock
available for future issuance under the Northern Technologies International
Corporation 2007 Stock Incentive Plan; and</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">89,157 shares of our common stock
available for future issuance under the Northern Technologies International
Corporation Employee Stock Purchase Plan.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To the extent that any of these options are exercised, new options or
other equity incentive awards are issued under the Northern Technologies
International Corporation 2007 Stock Incentive Plan or the Northern
Technologies International Corporation Employee Stock Purchase Plan or we
otherwise issue additional shares of common stock in the future, there will be
further dilution to the new investors.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-18</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table
of Contents</a></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">DESCRIPTION OF OUR COMMON STOCK</font></b><a name="DescriptionOfOurCommonStock_211800"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In this offering, we are offering a maximum of 480,000 shares of common
stock.&#160; The following is a summary of the
material terms of our common stock and certain provisions of our restated
certificate of incorporation and amended and restated bylaws.&#160; Because it is a summary, it does not include
all of the information that is included in our restated certificate of
incorporation or amended and restated bylaws and applicable law.&#160; The following description does not purport to
be complete and is qualified by reference to our restated certificate of
incorporation and amended and restated bylaws and applicable law.&#160; For information on how to obtain copies of
our restated certificate of incorporation and amended and restated bylaws, see
the information below under the heading &#147;Where You Can Find More Information&#148;
on page&nbsp;S-24 of this prospectus supplement</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Authorized Capital Stock</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We are authorized to issue 10,010,000 shares of capital stock,
consisting of 10,000,000 shares of common stock, par value $0.02 per share, and
10,000 shares of preferred stock, no par value per share.&#160; As of September&nbsp;15, 2009, 3,759,180
shares of our common stock were issued and outstanding.&#160; We currently do not have any issued and
outstanding shares of preferred stock.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Voting</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For all matters submitted to a vote of our stockholders, each holder of
our common stock is entitled to one vote for each share registered in the
holder&#146;s name on our books. The common stock does not have cumulative voting
rights. As a result, holders of a majority of our outstanding common stock can
elect all of the directors who are up for election in a particular year.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Dividends</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If our board of directors declares a dividend, holders of our common
stock will receive payments from funds that are legally available to pay
dividends. However, this dividend right is subject to any preferential dividend
rights we may grant to the persons who hold preferred stock, if any is
outstanding.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Liquidation and Dissolution</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If we were to liquidate or dissolve, the holders of our common stock
will be entitled to share ratably in all the assets that remain after we pay
our liabilities and any amounts we may owe to the persons who hold preferred
stock, if any is outstanding.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.3pt;text-indent:-1.3pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Fully Paid and Nonassessable</font></b></p>

<p style="margin:0in 0in .0001pt 1.3pt;text-indent:-1.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All shares of our outstanding common stock are fully paid and
nonassessable and any additional shares of common stock that we issue will be
fully paid and nonassessable.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Other Rights and Restrictions</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The holders of our common stock have no preemptive, subscription,
conversion, redemption or sinking fund rights.&#160;
Our charter and bylaws do not restrict the ability of a holder of our
common stock to transfer his or her shares of common stock.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.3pt;text-indent:-1.3pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Listing</font></b></p>

<p style="margin:0in 0in .0001pt 1.3pt;text-indent:-1.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our common stock is listed on the NASDAQ Global Market under the symbol
&#147;NTIC.&#148;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-19</font></p>

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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table
of Contents</a></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Transfer Agent and Registrar</font></b></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The transfer agent and registrar for our common stock is Wells Fargo
Shareowner Services.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Anti Takeover Provisions of NTIC&#146;s Restated
Certificate of Incorporation and Amended and Restated Bylaws and Delaware Law</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Certain provisions of our restated certificate of incorporation and
amended and restated bylaws, as well as provisions of Delaware law, could make
it more difficult for a third party to acquire our company, even if doing so
would be beneficial to our stockholders.&#160;
These provisions include:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; prohibition on cumulative voting
in the election of directors, which would otherwise allow less than a majority
of stockholders to elect director candidates;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; authorization of the issuance of
additional shares of common stock that could be issued by our board of
directors to increase the number of outstanding shares and thwart a takeover
attempt;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; restrictions on who may call a
special meeting of our stockholders; and</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; advance notice procedures for
stockholder proposals and director nominations.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We also are subject to Section&nbsp;203 of the Delaware General
Corporation Law.&#160; In general, Section&nbsp;203
prohibits a publicly held Delaware corporation from engaging in a business
combination with an interested stockholder for a period of three years
following the date the person became an interested stockholder, unless the
business combination or the transaction in which the person became an
interested stockholder is approved in a prescribed manner.&#160; Generally, a business combination includes a
merger, asset or stock sale, or other transaction resulting in a financial
benefit to the interested stockholder.&#160;
Generally, an interested stockholder is a person who, together with
affiliates and associates, owns or, in the case of affiliates or associates of
the corporation, within three years prior to the determination of interested
stockholder status, did own 15 percent or more of a corporation&#146;s voting
stock.&#160; The existence of this provision
could have anti takeover effects with respect to transactions not approved in
advance by our board of directors, such as discouraging takeover attempts that
might result in a premium over the market price of our common stock.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.3pt;text-indent:-1.3pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Indemnification</font></b></p>

<p style="margin:0in 0in .0001pt 1.3pt;text-indent:-1.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Under the Delaware General Corporation Law, a corporation may indemnify
any person who was or is a party or is threatened to be made a party to an
action (other than an action by or in the right of the corporation) by reason
of the fact that such person is or was a director, officer, employee or agent
of the corporation, or is or was serving at the corporation&#146;s request, as a
director, officer, employee or agent of another corporation or other
enterprise, against expenses (including attorneys&#146; fees) that are actually and
reasonably incurred by such person, and judgments, fines and amounts paid in
settlement of such action, provided that such person acted in good faith and in
a manner the person reasonably believed to be in or not opposed to the
corporation&#146;s best interests and, with respect to any criminal action or
proceeding, had no reasonable cause to believe that the person&#146;s conduct was
unlawful.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Although the Delaware General Corporation Law permits a corporation to
indemnify any person referred to above against expenses in connection with the
defense or settlement of an action by or in the right of the corporation,
provided that such person acted in good faith and in a manner the person
reasonably believed to be in or not opposed to the corporation&#146;s best interests,
if such person has been judged liable to the corporation, indemnification is
only permitted to the extent that the Court of Chancery (or the court in which
the action was brought) determines that, despite the adjudication of liability,
such person is entitled to </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-20</font></p>

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of Contents</a></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">indemnity for such expenses as the court deems
proper.&#160; The determination as to whether
a person seeking indemnification has met the required standard of conduct is to
be made, with respect to a person who is a director or officer at the time of
such determination, (1)&nbsp;by a majority vote of the directors who are not
parties to such action, suit or proceeding, even though less than a quorum, or (2)&nbsp;by
a committee of such directors designated by majority vote of such directors,
even though less than a quorum, or (3)&nbsp;if there are no such directors or
if such directors so direct, by independent legal counsel in a written opinion,
or (4)&nbsp;by the stockholders.&#160; The
Delaware General Corporation Law also provides for mandatory indemnification of
any present or former director or officer against expenses to the extent such
person has been successful in any proceeding covered by the statute.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition, the Delaware General Corporation Law provides that, to the
extent a present or former director or officer of a corporation has been
successful in the defense of any action, suit or proceeding or in the defense
of any claim, issue or matter therein, such person shall be indemnified against
expenses actually and reasonably incurred in connection therewith; that
indemnification provided for by the Delaware General Corporation Law shall not
be deemed exclusive of any other rights to which the indemnified party may be
entitled; and that the scope of indemnification extends to directors, officers,
employees or agents of a constituent corporation absorbed in a consolidation or
merger and persons serving in that capacity at the request of the constituent
corporation for another.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Delaware General Corporation Law also allows a corporation to
purchase and maintain insurance on behalf of a director or officer of the
corporation against any liability asserted against or incurred by such person
in any such capacity or arising out of such person&#146;s status as such, whether or
not the corporation would have the power to indemnify such person against such
liabilities under the Delaware General Corporation Law.&#160; We maintain directors&#146; and officers&#146;
liability insurance, including a reimbursement policy in favor of our company.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Article&nbsp;VII of our restated certificate of incorporation provides
that each director and officer, past or present, of our company, and their
respective heirs, administrators and executors, shall be indemnified by us in
accordance with, and to the fullest extent provided by, the provisions of the
Delaware General Corporation Law as may be amended from time to time.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Additionally, Article&nbsp;VII of our amended and restated bylaws
provides that we shall indemnify any director, officer or employee and their
respective heirs, administrators and executors against any and all judgments,
penalties, fines, amounts paid in settlement and expenses incurred or imposed in
connection with, or which result from, any proceeding in which such person is
or may become involved by reason of being a director, officer or employee.&#160; A proceeding means any actual, threatened or
completed action, suit, arbitration, alternative dispute resolution mechanism,
investigation, administrative hearing or other formal claim that could result
or has resulted in personal liability, whether civil, criminal, administrative
or investigative.&#160; In connection with a
proceeding, we may advance expenses to the director, officer or employee upon
receipt of an undertaking by or on behalf of such person to repay such advance
if it shall ultimately be determined that such person is not entitled to
indemnification by our company.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Article&nbsp;VIII of our amended and restated bylaws gives us the
express authority to enter into such agreements as our board of directors deems
appropriate for the indemnification of present of future directors and officers
of our company.&#160; We have entered into
agreements with our directors and officers regarding indemnification, in
addition to indemnification provided for in our restated certificate of
incorporation, amended and restated bylaws and the Delaware General Corporation
Law.&#160; Under these agreements, we are
required to indemnify our current and former directors and officers against
expenses, judgments, penalties, fines, settlements and other amounts actually
and reasonably incurred, including expenses of a derivative action, in
connection with an actual or threatened proceeding if any of them may be made a
party because he or she is or was one of our directors or officers.&#160; We will be obligated to pay these amounts
only if the director or officer acted in good faith and in a manner that he or
she reasonably believed to be in or not </font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-21</font></p>

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of Contents</a></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">opposed to our best interests.&#160; With respect to any criminal proceeding, we
will be obligated to pay these amounts only if the director or officer had no
reasonable cause to believe his or her conduct was unlawful.&#160; The indemnification agreements also set forth
procedures that will apply in the event of a claim for indemnification.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Elimination of Director Liability</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our restated certificate of incorporation provides that our directors
will not be personally liable to our company or our stockholders for monetary
damages for breach of fiduciary duty by such director as a director.&#160; The foregoing does not eliminate a director&#146;s
liability (i)&nbsp;for any breach of the director&#146;s duty of loyalty to our
company or our stockholders, (ii)&nbsp;for acts or omissions not in good faith
or which involve intentional misconduct or a knowing violation of law, (iii)&nbsp;pursuant
to section 174 of the Delaware General Corporation Law, (iv)&nbsp;for any
transaction from which the director derived an improper personal benefit, or (v)&nbsp;for
any act or omission occurring prior to January&nbsp;29, 2009.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">PLAN OF DISTRIBUTION</font></b><a name="PlanOfDistribution_211851"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have entered into a placement agency agreement, dated as of September&nbsp;18,
2009, with Next Generation Equity Research, LLC, as placement agent which we
refer to as the placement agency agreement.&#160;
Subject to the terms and conditions contained in the placement agency
agreement, Next Generation Equity Research, LLC has agreed to act as our
exclusive placement agent in connection with this offering. The placement agent
is not purchasing or selling any securities offered by this prospectus
supplement and the accompanying prospectus, nor is the placement agent required
to arrange the purchase or sale of any specific number or dollar amount of the
securities, but the placement agent has agreed to use its reasonable best
efforts to arrange for the direct sale of all of the securities in this offering
pursuant to this prospectus supplement and the accompanying prospectus. There
is no requirement that any minimum number of shares of common stock or dollar
amount of shares of common stock be sold in this offering and there can be no
assurance that we will sell all or any of the shares of common stock being
offered.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We negotiated the price for the common stock offered in this offering
with the investors.&#160; The factors
considered in determining the price included the recent market price of our
common stock, the general condition of the securities market at the time of
this offering, the history of, and the prospects for the industry in which we
compete, our past and present operations and our prospects for future revenues.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The placement agency agreement provides that the obligations of the
placement agent and the investors are subject to certain conditions precedent,
including, among other things, the absence of any material adverse change in
our business and the receipt of certain opinions, letters and certificates from
us, our counsel and our independent registered public accounting firm.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We currently anticipate that the closing of this offering will take
place on or about September&nbsp;23, 2009. On the closing date, the following
will occur:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; we
will receive funds in the amount of the aggregate purchase price;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the
placement agent will receive the placement agent fees in accordance with the
terms of the placement agency agreement; and</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; we
will deliver the shares of common stock to the investors.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In connection with this offering, the placement agent may distribute
this prospectus supplement and the accompanying prospectus electronically.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-22</font></p>

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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table
of Contents</a></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We will pay the placement agent an aggregate cash fee of 6.5% of the
gross proceeds from the sale of the common stock in this offering. We also will
reimburse the placement agent for legal and other expenses incurred by it in
connection with this offering, up to an aggregate amount of $65,000.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Under no circumstances will the total compensation paid to the
placement agent or any other member of FINRA or independent broker-dealer
exceed 8% of the gross proceeds to us in this offering or any other offering in
the United States pursuant to this prospectus supplement and the accompanying
prospectus.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The estimated offering expenses payable by us, in addition to the
aggregate fee of $230,880 due to the placement agent, are approximately
$370,380 which includes legal, accounting and filing fees and various other
fees and expenses associated with registering the securities and listing the
common stock. After deducting the fees due to the placement agent and our
estimated offering expenses, we expect the net proceeds from this offering to
be approximately $3.2 million if the maximum number of shares of common stock
are sold.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following table shows the per share and total fees we will pay to
the placement agent in connection with the sale of shares offered pursuant to
this prospectus supplement and the accompanying prospectus, assuming the
purchase of all of the shares offered hereby..</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="93%" style="border-collapse:collapse;margin-left:.5in;width:93.34%;">
 <tr>
  <td width="80%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:80.84%;">
  <p style="margin:0in 0in .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Per share
  placement agent fees</font></p>
  </td>
  <td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.08%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.38%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="13%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:13.46%;">
  <p align="right" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0.481</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="80%" valign="bottom" style="padding:0in 0in 0in 0in;width:80.84%;">
  <p style="margin:0in 0in .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Maximum offering
  total fees</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.08%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.46%;">
  <p align="right" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">230,880</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Because there is no minimum offering amount required as a condition to
closing in this offering, the actual total offering fees, if any, are not
presently determinable and may be substantially less than the maximum amount
set forth above.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have agreed to indemnify the placement agent and certain other
persons against certain liabilities relating to or arising out of the placement
agent&#146;s activities under the placement agency agreement. We also have agreed to
contribute to payments the placement agent may be required to make in respect
of such liabilities.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We, along with our executive officers and directors, and Inter Alia
Holding Company, our largest shareholder, have agreed to certain lock-up
provisions with regard to future sales of our common stock for a period of
ninety (90) days after the offering as set forth in the placement agency
agreement.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A copy of the placement agency agreement and the form of subscription
agreement we entered into with the investors will be included as exhibits to
our current report on Form&nbsp;8-K that will be filed with the SEC in
connection with the consummation of this offering.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The placement agent has informed us that it will not engage in over
allotment, stabilizing transactions or syndicate covering transactions in
connection with this offering.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The transfer agent for our common stock to be issued in this offering
is Wells Fargo Shareowner Services.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our common stock is traded on the NASDAQ Global Market under the symbol
&#147;NTIC.&#148;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-23</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table
of Contents</a></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">LEGAL MATTERS</font></b><a name="LegalMatters_211955"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The validity of the issuance of the shares of common stock offered
hereby will be passed upon for us by Oppenheimer Wolff&nbsp;&amp; Donnelly LLP,
Minneapolis, Minnesota.&#160; The placement
agent is being represented in connection with this offering by K&amp;L Gates
LLP, New York, New York.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">EXPERTS</font></b><a name="Experts_211958"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The financial statements incorporated in this prospectus supplement by
reference to our annual report on Form&nbsp;10-K for the year ended August&nbsp;31,
2008 have been so incorporated in reliance on the report of Baker Tilly Virchow
Krause, LLP (f/k/a Virchow, Krause&nbsp;&amp; Company, LLP), an independent
registered public accounting firm, given on the authority of said firm as
experts in auditing and accounting.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">WHERE YOU CAN FIND MORE INFORMATION</font></b><a name="WhereYouCanFindMoreInformation_212001"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We file annual, quarterly and special reports, proxy statements and
other documents with the SEC. You may read and copy any document we file at the
SEC&#146;s public reference room at 100 F Street, N.E., Washington, D.C. 20549. You
should call 1-800-SEC-0330 for more information on the public reference room.
The SEC maintains an Internet website at http://www.sec.gov that contains
reports, proxy and information statements, and other information regarding
issuers of securities, like us, that file electronically with the SEC. Our SEC
filings are available to you on the SEC&#146;s Internet website.&#160; We also maintain a website at
http://www.ntic.com, which provides additional information about our company.&#160; The content of our website or any other
website, however, are not a part of this prospectus supplement and is not
incorporated by reference into this prospectus supplement or the accompanying
prospectus.&#160; Our website address is
included as an inactive textual reference only.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This prospectus supplement and the accompanying prospectus are part of
a registration statement on Form&nbsp;S-3 that we filed with the SEC
registering the securities that may be offered and sold hereunder. The
registration statement, including exhibits thereto, contains additional
relevant information about us and these securities that, as permitted by the rules&nbsp;and
regulations of the SEC, we have not included in this prospectus supplement or
the accompanying prospectus. A copy of the registration statement can be
obtained at the address set forth above or from the SEC&#146;s Internet site. You
should read the registration statement for further information about us and
these securities.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</font></b><a name="IncorporationOfCertainDocumentsBy_212005"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We are incorporating by reference certain documents we file with the
SEC, which means that we can disclose important information to you by referring
you to those documents. The information in the documents incorporated by
reference is considered to be part of this prospectus supplement. Information
in documents that we file with the SEC after the date of this prospectus
supplement will automatically update and supersede information in this
prospectus supplement. We incorporate by reference the documents listed below
and any future filings we may make with the SEC under Section&nbsp;13(a),
13(c), 14 or 15(d)&nbsp;of the Exchange Act after the date of this prospectus
supplement and before the termination of the offering.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Our annual report on Form&nbsp;10-K for
the fiscal year ended August&nbsp;31, 2008;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Our quarterly reports on Form&nbsp;10-Q
for the quarters ended November&nbsp;30, 2008, February&nbsp;28, 2009 and May&nbsp;31,
2009;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Our current reports on Form&nbsp;8-K as
filed with the SEC on November&nbsp;24, 2008 and May&nbsp;7, 2009; and</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-24</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table
of Contents</a></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The description of our common stock
contained in our registration statement on Form&nbsp;8-A/A as filed with the
SEC on September&nbsp;11, 2009, and including any other amendments or reports
filed for the purpose of updating that description.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We are not, however, incorporating by reference any documents or
portions of documents that are not deemed &#147;filed&#148; with the SEC.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Information contained in this prospectus supplement supplements,
modifies or supersedes, as applicable, the information contained in
earlier-dated documents incorporated by reference. Information contained in
later-dated documents incorporated by reference supplements, modifies or
supersedes, as applicable, the information contained in this prospectus
supplement or in earlier-dated documents incorporated by reference.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">You may request, orally or in writing, a copy of these documents, which
will be provided to you at no cost, by contacting:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Northern Technologies International Corporation</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4201 Woodland Road</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Circle Pines, MN 55014</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention: Chief Financial Officer</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Telephone:
(763) 225-6637</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">You should rely only on the information contained in this prospectus
supplement and the accompanying prospectus, including information incorporated
by reference as described above. We have not authorized anyone else to provide
you with different information. You should not assume that the information in
this any prospectus supplement or the accompanying prospectus is accurate as of
any date other than the date on the front of those documents or that any
document incorporated by reference is accurate as of any date other than its
filing date. You should not consider this prospectus supplement to be an offer
or solicitation relating to the securities in any jurisdiction in which such an
offer or solicitation relating to the securities is not authorized.
Furthermore, you should not consider this prospectus supplement to be an offer
or solicitation relating to the securities if the person making the offer or
solicitation is not qualified to do so, or if it is unlawful for you to receive
such an offer or solicitation..</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-25</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PROSPECTUS</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">$50,000,000</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NORTHERN TECHNOLOGIES
INTERNATIONAL CORPORATION</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Common Stock</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Warrants</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Units</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We may offer and sell from time to time up to $50,000,000 in total of
any combination of the securities described in this prospectus, either
individually or in units.&#160; We may also
offer common stock upon the exercise of warrants. Each time we offer
securities, we will provide a prospectus supplement containing more information
about the particular offering together with this prospectus.&#160; The prospectus supplement may also add,
update or change information contained in this prospectus.&#160; This prospectus may not be used to offer and
sell securities without a prospectus supplement.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The securities may be sold directly by us to investors, through agents
designated from time to time or to or through underwriters or dealers. For
additional information on the methods of sale, you should refer to the section
entitled &#147;Plan of Distribution&#148; in this prospectus. If any agents or
underwriters are involved in the sale of any securities, the names of such
agents or underwriters and any applicable fees, commissions, discounts and
over-allotment options will be set forth in the applicable prospectus
supplement.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our common stock is traded on the NASDAQ Global Market under the symbol
&#147;NTIC.&#148; On January&nbsp;14, 2009, the closing sale price of our common stock on
the NASDAQ Global Market was $7.37 per share.&#160;
None of our other securities are currently publicly traded.&#160; As of January&nbsp;14, 2009, the aggregate
market value of our outstanding common stock held by non-affiliates was
$19,377,189, based on 3,740,970 shares of outstanding common stock, of which
2,629,198 shares were held by non-affiliates, and a per share price of $7.37
based on the closing sale price of our common stock on that date.&#160; We have not offered any securities during the
period of 12 calendar months immediately prior to, and including, the date of
this prospectus pursuant to General Instruction I.B.6. of Form&nbsp;S-3.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Investing in our securities involves
a high degree of risk</font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">.&#160; We refer you to the section
entitled &#147;Risk Factors&#148; of this prospectus on page&nbsp;3 and in the applicable
prospectus supplement and under similar sections in the documents we
incorporate by reference into this prospectus.</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Neither the Securities and Exchange Commission nor
any state securities commission has approved or disapproved of these securities
or determined if this prospectus is truthful or complete.&#160; Any representation to the contrary is a
criminal offense.</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The date of this
prospectus is January&nbsp;16, 2009</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TABLE OF
CONTENTS</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="94%" valign="bottom" style="padding:0in 0in 0in 0in;width:94.58%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="5%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:5.42%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Page</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.58%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.42%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.58%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#Summary_213141" title="Click to goto ">SUMMARY</a></font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.42%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>
  </td>
 </tr>
 <tr>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.58%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#RiskFactors_211829" title="Click to goto ">RISK FACTORS</a></font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.42%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  </td>
 </tr>
 <tr>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.58%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#SpecialNoteRegardingForwardlookin_211830" title="Click to goto ">SPECIAL
  NOTE REGARDING FORWARD-LOOKING STATEMENTS</a></font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.42%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  </td>
 </tr>
 <tr>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.58%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#AboutThisProspectus_211844" title="Click to goto ">ABOUT THIS
  PROSPECTUS</a></font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.42%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>
  </td>
 </tr>
 <tr>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.58%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#UseOfProceeds_211846" title="Click to goto ">USE OF PROCEEDS</a></font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.42%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>
  </td>
 </tr>
 <tr>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.58%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#DescriptionOfSecurities_211856" title="Click to goto ">DESCRIPTION OF
  SECURITIES</a></font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.42%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>
  </td>
 </tr>
 <tr>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.58%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#PlanOfDistribution_211947" title="Click to goto ">PLAN OF DISTRIBUTION</a></font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.42%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p>
  </td>
 </tr>
 <tr>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.58%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#LegalMatters_211637" title="Click to goto ">LEGAL
  MATTERS</a></font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.42%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>
  </td>
 </tr>
 <tr>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.58%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#Experts_211639" title="Click to goto ">EXPERTS</a></font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.42%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>
  </td>
 </tr>
 <tr>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.58%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#WhereYouCanFindMoreInformation_211640" title="Click to goto ">WHERE YOU CAN FIND MORE INFORMATION</a></font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.42%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>
  </td>
 </tr>
 <tr>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.58%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#IncorporationOfCertainDocumentsBy_211643" title="Click to goto ">INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</a></font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.42%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S-i</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;"><a href="#TableOfContents" title="Click to go to Table of Contents"><font style="text-transform:none;">Table
of Contents</font></a></font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;text-transform:uppercase;">SUMMARY</font></b><a name="Summary_213141"></a></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">The following summary highlights information
contained elsewhere in this prospectus.&#160;
Because it is only a summary, it does not contain all of the detailed
information contained elsewhere in this prospectus or all of the information
that may be important to you.&#160;
Accordingly, please read carefully this entire prospectus, the
prospectus supplement delivered with this prospectus and the documents
incorporated by reference before making an investment decision.</font></i></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except as otherwise indicated by the context, references in this
prospectus to &#147;NTIC,&#148; &#147;we,&#148; &#147;us&#148; or &#147;our&#148; are references to Northern
Technologies International Corporation.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Our
Company</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We develop, market and sell 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.&#160; Our primary
business line is corrosion prevention; however, we just recently launched a
bio-plastics product line and are in various stages of development with respect
to other emerging businesses.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Corrosion Prevention</font></i><font size="2" style="font-size:10.0pt;">.&#160; Our rust and
corrosion inhibiting products and services, which we have been selling for over
25 years, are designed primarily for the automotive, electronics, electrical,
mechanical, military and retail consumer markets and are sold under the brand
names Zerust&#174; and EXCOR&#174;.&#160; We also offer
direct, worldwide on-site technical support on rust and corrosion issues.&#160; In North America, we market our technical
services and Zerust&#174; products principally to industrial users by a direct sales
force and through a network of independent distributors and sales
representatives.&#160; Our technical service
representatives work directly with the end users of our products to analyze
their specific needs and develop systems to meet their technical requirements.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Bio-Plastics</font></i><font size="2" style="font-size:10.0pt;">.&#160; In fiscal
2008, we began to sell bio-based and biodegradable (compostable) polymer resin
compounds and products under the Natur-Tec&#174; brand.&#160; These products are intended to reduce our customers&#146;
carbon footprint and provide environmentally sound disposal options.&#160; In recent years, a combination of market
drivers, such as higher petroleum prices, a desire to reduce dependence on
foreign oil, increased environmental awareness at the consumer level and
regulations banning the use of traditional, petroleum-based plastics, have led
to interest in sustainable, renewable resource-based and compostable
alternatives to traditional plastics.&#160;
Our Natur-Tec&#174; bio-based and biodegradable plastics are manufactured
using our patented and/or proprietary technologies and are intended to replace
conventional petroleum-based plastics. Our Natur-Tec&#174; bioplastics portfolio
includes flexible film, foam, rigid injection molded materials and engineered
plastics. Natur-Tec&#174; biodegradable and compostable finished products include
shopping and grocery bags, lawn and leaf bags, can liners, pet waste collection
bags, cutlery, packaging foam and coated paper products and are engineered to
be fully biodegradable in a composting environment.&#160; Unlike competing plastic products claiming to
be &#147;degradable&#148; or &#147;oxo-degradable&#148; that only break down into smaller plastic
fragments, our Natur-Tec&#174; products are designed to completely biodegrade within
180 days in accordance with the ASTM D6400 standard for compostable plastics
and are certified 100 percent biodegradable and compostable by the
Biodegradable Products Institute.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Other Emerging Businesses</font></i><font size="2" style="font-size:10.0pt;">.&#160;
We are engaged in scientific research and development programs in the
areas of materials science and corrosion protection.&#160; Our research and development investments are
intended to build on our current environmentally responsible corrosion
technologies and provide for a portfolio of new environmental technology
offerings.&#160; Specifically, our research
and development efforts focus on developing additional biodegradable and
compostable plastics products, process technology and </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>

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<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">equipment to convert plastic waste into crude oil and
the application of new and existing corrosion inhibiting technology to the oil
and gas industry.&#160; We intend to
distribute and sell products incorporating these new technologies through our
North American operations, our existing joint ventures and new joint ventures.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We are a Delaware corporation that was originally organized as a
Minnesota corporation in 1970.&#160; Our
principal executive office is located at 4201 Woodland Road, Circle Pines,
Minnesota 55014 and our telephone number is (763) 225-6600.&#160; Our website is located at www.ntic.com.&#160; The information on our website or any other
website is not incorporated by reference into this prospectus or any
accompanying prospectus supplement.&#160; Our
website address is included as an inactive textual reference only.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NTIC, the NTIC logo, Zerust and Natur-Tec are our trademarks.&#160; This prospectus and the documents we
incorporate by reference into this prospectus may also contain trademarks and
trade names of others.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Securities
We are Offering</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We may offer any of the following securities from time to time:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">shares of our common stock;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">warrants to purchase shares of our common
stock; or</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">units comprised of shares of our common
stock and warrants to purchase our common stock, or any combination.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We may also offer common stock upon the exercise of warrants.&#160; When we use the term &#147;securities&#148; in this
prospectus, we mean any of the securities we may offer with this prospectus,
unless we say otherwise.&#160; The total
dollar amount of all securities that we may issue will not exceed
$50,000,000.&#160; This prospectus, including
the following summary, describes the general terms that may apply to the
securities.&#160; The specific terms of any
particular securities that we may offer will be described in a separate
supplement to this prospectus.&#160; This
prospectus may not be used to consummate a sale of securities unless it is
accompanied by a prospectus supplement.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Common Stock</font></i><font size="2" style="font-size:10.0pt;">.&#160; We may offer
shares of our common stock.&#160; Our common
stock currently is traded on the NASDAQ Global Market under the symbol &#147;NTIC.&#148;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Warrants</font></i><font size="2" style="font-size:10.0pt;">.&#160; We may offer
warrants to purchase shares of our common stock.&#160; For any particular warrants we offer, the
applicable prospectus supplement will describe the expiration date; the
exercise price or the manner of determining the exercise price; the amount and
kind, or the manner of determining the amount and kind, of any security to be
delivered by us upon exercise; and any other specific terms.&#160; We may issue the warrants under warrant
agreements between us and one or more warrant agents.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Units</font></i><font size="2" style="font-size:10.0pt;">.&#160; We may offer
units comprised of shares of our common stock and warrants to purchase our
common stock, or any combination.&#160; For
any particular units we offer, the applicable prospectus supplement will
describe the units, the securities that comprise the units and any other
specific terms.&#160; We may issue the units
under unit agreements between us and one or more unit agents.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Listing</font></i><font size="2" style="font-size:10.0pt;">.&#160; If any
securities are to be listed or quoted on a securities exchange or quotation
system, the applicable prospectus supplement will so indicate.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

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<p align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;"><a href="#TableOfContents" title="Click to go to Table of Contents"><font style="text-transform:none;">Table
of Contents</font></a></font></b></p>

<p style="margin:0in 0in 12.0pt;"><font size="3" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">RISK
FACTORS</font></b><a name="RiskFactors_211829"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">An investment in our securities involves a high degree of risk. You
should carefully consider the specific risks set forth under the section
entitled &#147;Risk Factors&#148; in the applicable prospectus supplement and under
similar sections in the documents we incorporate by reference into this
prospectus before making an investment decision. The risks and uncertainties
described in the prospectus supplement and the documents we incorporate by
reference into this prospectus are not the only ones we face. Additional risks
and uncertainties that we are unaware of or that we believe are not material at
the time could also materially adversely affect our business, financial
condition or results of operations. In any case, the value of our securities
could decline, and you could lose all or part of your investment. See also the
information contained under the heading &#147;Special Note Regarding Forward-Looking
Statements&#148; immediately below.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">SPECIAL
NOTE REGARDING FORWARD-LOOKING STATEMENTS</font></b><a name="SpecialNoteRegardingForwardlookin_211830"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This prospectus and any accompanying prospectus supplement, including
the documents that we incorporate by reference, contain forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995.&#160; All statements other than statements
of historical facts included in or incorporated by reference into this
prospectus and any accompanying prospectus supplement that address activities,
events or developments that we expect, believe or anticipate will or may occur
in the future are forward-looking statements.&#160;
Our forward-looking statement generally include statements about our
plans, objectives, strategies and prospects regarding, among other things, our
business, results of operations, liquidity and financial condition.&#160; In some cases, we have identified these
forward-looking statements with words like &#147;believe,&#148; &#147;may,&#148; &#147;could,&#148; &#147;might,&#148; &#147;possible,&#148;
&#147;potential,&#148; &#147;project,&#148; &#147;will,&#148; &#147;should,&#148; &#147;expect,&#148; &#147;intend,&#148; &#147;plan,&#148; &#147;predict,&#148;
&#147;anticipate,&#148; &#147;estimate,&#148; &#147;approximate,&#148; &#147;contemplate&#148; or &#147;continue&#148; or the
negative of these words or other words and terms of similar meaning.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Forward-looking statements involve risks and uncertainties.&#160; These uncertainties include factors that
affect all businesses as well as matters specific to us.&#160; Some of the factors known to us that could
cause our actual results to differ materially from what we have anticipated in
our forward-looking statements include:&#160;
the effect of current worldwide economic conditions on our business; the
effect of the significant downturn in the U.S. automotive industry on our
business; our dependence on the success of our joint ventures and technical
fees and dividend distributions that we receive from them; our relationships
with our joint ventures and our ability to maintain those relationships; risks
associated with our international operations and exposure to fluctuations in
foreign currency exchange rates; fluctuations in the cost and availability of
raw materials, including resins and other commodities; our investments in research
and development efforts and our need for additional capital to support such
efforts; acceptance of our existing and new products; increased competition;
the success of our emerging new businesses; our reliance upon and our
relationships with our distributors, independent sales representatives and
corporate joint ventures; our reliance upon suppliers; the costs and effects of
complying with changes in tax, fiscal, government and other regulatory
policies, including rules&nbsp;relating to environmental, health and safety
matters; the costs and effects of outstanding litigation; unforeseen product
quality or other problems in the development, production and usage of new and
existing products; loss of or changes in executive management or key employees;
ability of management to manage around unplanned events; our reliance on our
intellectual property rights and the absence of infringement of the
intellectual property rights of others; and our reliance upon our management
information systems.&#160; We refer you to the
section entitled &#147;Risk Factors&#148; included elsewhere in this prospectus and in
the accompanying prospectus supplement and under similar sections in the
documents we incorporate by reference into this prospectus.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We wish to caution readers not to place undue reliance on any
forward-looking statement that speaks only as of the date made and to recognize
that forward-looking statements are predictions of future results, which may
not occur as anticipated.&#160; Actual results
could differ materially from those anticipated </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

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</div>
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<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">in the forward-looking statements and from historical
results, due to the risks and uncertainties described above and under the
section entitled &#147;Risk Factors&#148; included elsewhere in this prospectus and in
the accompanying prospectus supplement and under similar sections in the
documents we incorporate by reference into this prospectus, as well as others
that we may consider immaterial or do not anticipate at this time.&#160; Although we believe that the expectations
reflected in our forward-looking statements are reasonable, we do not know
whether our expectations will prove correct.&#160;
We assume no obligation to update forward-looking statements to reflect
actual results or changes in factors or assumptions affecting such
forward-looking statements, except if we otherwise are required by law.&#160; We advise you, however, to consult any
further disclosures we make on related subjects in our annual reports on Form&nbsp;10-K,
quarterly reports on Form&nbsp;10-Q and current reports on Form&nbsp;8-K we
file with or furnish to the Securities and Exchange Commission.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">ABOUT
THIS PROSPECTUS</font></b><a name="AboutThisProspectus_211844"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This prospectus is part of a registration statement that we filed with
the Securities and Exchange Commission, or SEC, using a &#147;shelf&#148; registration
process. Under this shelf process, we may sell any one or more or a combination
of the securities described in this prospectus in one or more offerings up to a
total dollar amount of $50,000,000 (or its equivalent based on the applicable
exchange rate at the time of the sale in one or more foreign currencies,
currency units or composite currencies that we may designate). We have provided
to you in this prospectus a general description of the securities we may offer.
Each time we sell securities, we will provide a prospectus supplement that will
contain specific information about the terms of that offering. We may also add,
update or change in the prospectus supplement any of the information contained
in this prospectus.&#160; If there is an
inconsistency between the information in this prospectus and a prospectus
supplement, you should rely on the information in the prospectus
supplement.&#160; You should read carefully
both this prospectus and the applicable prospectus supplement together with the
documents we incorporate by reference into this prospectus as described below
under the heading &#147;Incorporation of Certain Documents By Reference&#148; before
making an investment decision.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The registration statement that contains this prospectus, including the
exhibits to the registration statement and the information incorporated by
reference, provides additional information about the securities offered under
this prospectus. That registration statement can be read at the SEC web site or
at the SEC public reference room as discussed below under the heading &#147;Where
You Can Find More Information.&#148;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">You should rely only on the information provided in the registration
statement, this prospectus and in any prospectus supplement, including the
information incorporated by reference. We have not authorized anyone to provide
you with different information. You should not assume that the information in
this prospectus or any supplement to this prospectus is accurate at any date
other than the date indicated on the cover page&nbsp;of these documents.&#160; We are not making an offer to sell these
securities in any jurisdiction where the offer or sale is not permitted.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">USE
OF PROCEEDS</font></b><a name="UseOfProceeds_211846"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unless we otherwise indicate in the applicable prospectus supplement,
we currently intend to use the net proceeds from the sale of our securities for
general research and development and for working capital to further our
bioplastics and other emerging businesses.&#160;
Accordingly, our management will have significant discretion and
flexibility in applying the net proceeds from the sale of these securities.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pending use of the net proceeds as described above, we intend to invest
the net proceeds in short-term, interest-bearing, investment-grade marketable
securities or money market obligations.&#160;
We may also </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

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<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">set forth additional information on the use of net
proceeds from the sale of the securities we offer under this prospectus in a
prospectus supplement relating to the specific offering.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">DESCRIPTION
OF SECURITIES</font></b><a name="DescriptionOfSecurities_211856"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following description, together with the additional information we
include in any applicable prospectus supplements, summarizes the material terms
and provisions of the securities that we may offer under this prospectus. We
will describe in the applicable prospectus supplement relating to any
securities the particular terms of the securities offered by that prospectus
supplement. If we indicate in the applicable prospectus supplement, the terms
of the securities may differ from the terms we have summarized below. We will
also include in the prospectus supplement information, where applicable, about
material United States federal income tax considerations relating to the
securities, and the securities exchange, if any, on which the securities will
be listed</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Common
Stock</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following summary description of our common stock is based on the
provisions of our certificate of incorporation and bylaws, which are
incorporated by reference into the registration statement which includes this
prospectus, and the applicable provisions of the Delaware General Corporation
Law.&#160; This information may not be
complete in all respects and is qualified in its entirety by reference to the
provisions of our certificate of incorporation, bylaws and the Delaware General
Corporation Law.&#160; For information on how
to obtain copies of our certificate of incorporation and bylaws, see the
information below under the heading &#147;Where You Can Find More Information.&#148;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Authorized</font></i><font size="2" style="font-size:10.0pt;">.&#160; We currently
have authority to issue up to 10,000,000 shares of common stock, $0.02 par
value per share. As of January&nbsp;14, 2009, we had 3,750,970 shares of common
stock outstanding.&#160; We may amend from
time to time our certificate of incorporation to increase the number of
authorized shares of common stock.&#160; Any
such amendment would require the approval of the holders of a majority of the
voting power of the shares entitled to vote thereon.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Voting</font></i><font size="2" style="font-size:10.0pt;">. For all matters submitted to a vote of stockholders,
each holder of common stock is entitled to one vote for each share registered
in the holder&#146;s name on our books. Our common stock does not have cumulative
voting rights. As a result, holders of a majority of our outstanding common
stock can elect all of the directors who are up for election in a particular
year.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Dividends</font></i><font size="2" style="font-size:10.0pt;">. If our board of directors declares a dividend,
holders of common stock will receive payments from our funds that are legally
available to pay dividends. However, this dividend right is subject to any
preferential dividend rights we may grant to the persons who hold preferred
stock, if any is outstanding.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Liquidation and Dissolution</font></i><font size="2" style="font-size:10.0pt;">. If we are liquidated or dissolve, the
holders of our common stock will be entitled to share ratably in all the assets
that remain after we pay our liabilities and any amounts we may owe to the
persons who hold preferred stock, if any is outstanding.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Fully Paid and Nonassessable.&#160; </font></i><font size="2" style="font-size:10.0pt;">All shares of our outstanding common stock are fully
paid and nonassessable and any additional shares of common stock that we issue
will be fully paid and nonassessable.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Other Rights and Restrictions</font></i><font size="2" style="font-size:10.0pt;">. Holders of our common stock do not have
preemptive or subscription rights, and they have no right to convert their
common stock into any other securities. Our common stock is not subject to
redemption by us. The rights, preferences and privileges of common </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

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</div>
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<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">stockholders are subject to the rights of the
stockholders of any series of preferred stock which we may designate in the
future. Our charter and bylaws do not restrict the ability of a holder of
common stock to transfer his or her shares of common stock.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Listing</font></i><font size="2" style="font-size:10.0pt;">. Our common stock is listed on the NASDAQ Global
Market under the symbol &#147;NTIC.&#148;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Transfer Agent and Registrar</font></i><font size="2" style="font-size:10.0pt;">. The transfer agent and registrar for
our common stock is Wells Fargo Shareowner Services.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Warrants</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following description, together with the additional information we
may include in any applicable prospectus supplements, summarizes the material
terms and provisions of the warrants that we may offer under this prospectus
and the related warrant agreements and warrant certificates. While the terms
summarized below will apply generally to any warrants that we may offer, we
will describe the particular terms of any series of warrants in more detail in
the applicable prospectus supplement. If we indicate in the prospectus
supplement, the terms of any warrants offered under that prospectus supplement
may differ from the terms described below.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We will file as exhibits to the registration statement of which this
prospectus is a part, or will incorporate by reference from reports that we
file with the SEC, the form of warrant agreement, including a form of warrant
certificate, that describes the terms of the series of warrants we are
offering, and any supplemental agreements, before the issuance of the related
series of warrants. The following summaries of material terms and provisions of
the warrant agreements and warrant certificate are subject to, and qualified in
their entirety by reference to, all the provisions of the warrant agreement and
warrant certificate applicable to the particular series of warrants that we may
offer under this prospectus. We urge you to read the applicable prospectus
supplements related to the particular series of warrants that we may offer
under this prospectus and the complete warrant agreements and warrant
certificates that contain the terms of the warrants.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">General</font></i><font size="2" style="font-size:10.0pt;">.&#160; We may issue
warrants for the purchase of common stock in one or more series. We may issue
warrants independently or together with common stock, and the warrants may be
attached to or separate from these securities.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We will evidence each series of warrants by warrant certificates that
we will issue under a separate agreement. We may enter into a warrant agreement
with a warrant agent. If we elect to do so, the warrant agent will act solely
as our agent in connection with the warrants and will not assume any obligation
or relationship of agency or trust for or with any registered holders of
warrants or beneficial owners of warrants.&#160;
We will indicate the name and address and other information regarding
the warrant agent in the applicable prospectus supplement relating to a
particular series of warrants if we elect to use a warrant agent.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We will describe in the applicable prospectus supplement the terms of
the series of warrants, including:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the offering price and aggregate number
of warrants offered;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the currency for which the warrants may
be purchased;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">if applicable, the designation and terms
of the securities with which the warrants are issued and the number of warrants
issued with each such security or each principal amount of such security;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">if applicable, the date on and after
which the warrants and the related securities will be separately transferable;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the number of shares of common stock
purchasable upon the exercise of one warrant and the price at which these
shares may be purchased upon such exercise;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the effect of any merger, consolidation,
sale or other disposition of our business on the warrant agreement and the
warrants;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the terms of any rights to redeem or call
the warrants;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any provisions for changes to or
adjustments in the exercise price or number of securities issuable upon
exercise of the warrants;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the dates on which the right to exercise
the warrants will commence and expire;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the manner in which the warrant agreement
and warrants may be modified;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">federal income tax consequences of
holding or exercising the warrants;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the terms of the securities issuable upon
exercise of the warrants; and</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any other specific terms, preferences,
rights or limitations of or restrictions on the warrants.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Before exercising their warrants, holders of warrants will not have any
of the rights of holders of the securities purchasable upon such exercise,
including the right to receive dividends, if any, or, payments upon our
liquidation, dissolution or winding up or to exercise voting rights, if any.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Exercise of Warrants</font></i><b><font size="2" style="font-size:10.0pt;font-weight:bold;">.&#160;
</font></b><font size="2" style="font-size:10.0pt;">Each
warrant will entitle the holder to purchase the securities that we specify in
the applicable prospectus supplement at the exercise price that we describe in
the applicable prospectus supplement. Unless we otherwise specify in the
applicable prospectus supplement, holders of the warrants may exercise the
warrants at any time up to 5:00&nbsp;p.m., New York City time, on the
expiration date that we set forth in the applicable prospectus supplement.
After the close of business on the expiration date, unexercised warrants will
become void.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Holders of the warrants may exercise the warrants by delivering the
warrant certificate representing the warrants to be exercised together with
specified information, and paying the required amount to the warrant agent in
immediately available funds, as provided in the applicable prospectus
supplement. We will set forth on the reverse side of the warrant certificate
and in the applicable prospectus supplement the information that the holder of
the warrant will be required to deliver to the warrant agent.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Upon receipt of the required payment and the warrant certificate
properly completed and duly executed at the corporate trust office of the
warrant agent or any other office indicated in the applicable prospectus
supplement, we will issue and deliver the securities purchasable upon such
exercise. If fewer than all of the warrants represented by the warrant
certificate are exercised, then we will issue a new warrant certificate for the
remaining amount of warrants. If we so indicate in the applicable prospectus </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p>

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</div>
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<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">supplement, holders of the warrants may surrender
securities as all or part of the exercise price for warrants.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Enforceability of Rights by Holders of Warrants.</font></i><b><font size="2" style="font-size:10.0pt;font-weight:bold;">&#160;
</font></b><font size="2" style="font-size:10.0pt;">Each
warrant agent will act solely as our agent under the applicable warrant
agreement and will not assume any obligation or relationship of agency or trust
with any holder of any warrant. A single bank or trust company may act as
warrant agent for more than one issue of warrants. A warrant agent will have no
duty or responsibility in case of any default by us under the applicable
warrant agreement or warrant, including any duty or responsibility to initiate
any proceedings at law or otherwise, or to make any demand upon us. Any holder
of a warrant may, without the consent of the related warrant agent or the
holder of any other warrant, enforce by appropriate legal action its right to
exercise, and receive the securities purchasable upon exercise of, its
warrants.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Units</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following description, together with the additional information we
may include in any applicable prospectus supplements, summarizes the material
terms and provisions of the units that we may offer under this prospectus and
any related unit agreements and unit certificates. While the terms summarized
below will apply generally to any units that we may offer, we will describe the
particular terms of any series of units in more detail in the applicable
prospectus supplement. If we indicate in the prospectus supplement, the terms
of any units offered under that prospectus supplement may differ from the terms
described below.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We will file as exhibits to the registration statement of which this
prospectus is a part, or will incorporate by reference from reports that we
file with the SEC, any form of unit agreement that describes the terms of the
series of units we are offering, and any supplemental agreements, before the
issuance of the related series of units. The following summaries of material
terms and provisions of the units are subject to, and qualified in their
entirety by reference to, all the provisions of such unit agreements and any
supplemental agreements applicable to a particular series of units. We urge you
to read the applicable prospectus supplements related to the particular series
of units that we may offer under this prospectus and the complete unit
agreement and any supplemental agreements that contain the terms of the units.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">General</font></i><font size="2" style="font-size:10.0pt;">.&#160; We may issue,
in one more series, units comprised of shares of our common stock and warrants
to purchase common stock or any combination.&#160;
Each unit will be issued so that the holder of the unit is also the
holder of each security included in the unit. Thus, the holder of a unit will
have the rights and obligations of a holder of each included security. The unit
agreement under which a unit is issued may provide that the securities included
in the unit may not be held or transferred separately, at any time or at any
time before a specified date.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We may evidence units by unit certificates that we issue under a
separate agreement.&#160; We may issue the
units under a unit agreement between us and one or more unit agents.&#160; If we elect to enter into a unit agreement
with a unit agent, the unit agent will act solely as our agent in connection
with the units and will not assume any obligation or relationship of agency or
trust for or with any registered holders of units or beneficial owners of
units.&#160; We will indicate the name and
address and other information regarding the unit agent in the applicable
prospectus supplement relating to a particular series of units if we elect to
use a unit agent.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We will describe in the applicable prospectus supplement the terms of
the series of units being offered, including:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the designation and terms of the units
and of the securities comprising the units, including whether and under what
circumstances those securities may be held or transferred separately;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8</font></p>

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</div>
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<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any provisions of the governing unit
agreement that differ from those described below; and</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any provisions for the issuance, payment,
settlement, transfer or exchange of the units or of the securities comprising
the units.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:39.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The other provisions regarding our common stock and
warrants as described in this section will apply to each unit to the extent
such unit consists of shares of our common stock and warrants to purchase our
common stock.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Enforceability of Rights by Holders of Units</font></i><font size="2" style="font-size:10.0pt;">.&#160;
Each unit agent will act solely as our agent under the applicable unit
agreement and will not assume any obligation or relationship of agency or trust
with any holder of any unit. A single bank or trust company may act as unit
agent for more than one series of units. A unit agent will have no duty or
responsibility in case of any default by us under the applicable unit agreement
or unit, including any duty or responsibility to initiate any proceedings at
law or otherwise, or to make any demand upon us. Any holder of a unit may,
without the consent of the related unit agent or the holder of any other unit,
enforce by appropriate legal action its rights as holder under any security
included in the unit.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Certain
Effects of Authorized But Unissued Stock</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have shares of common stock available for future issuance without
stockholder approval, subject to any limitations imposed by the listing
standards of the NASDAQ Global Market. We may use these additional shares for a
variety of corporate purposes, including for future public offerings to raise
additional capital or facilitate corporate acquisitions or for payment as a
dividend on our capital stock.&#160; The
existence of unissued and unreserved common stock may enable our board of
directors to issue shares to persons friendly to current management that could
render more difficult or discourage a third-party attempt to obtain control of
us by means of a merger, tender offer, proxy contest or otherwise, thereby
protecting the continuity of our management.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Delaware
Law and Charter and Bylaw Provisions</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Business Combinations</font></i><font size="2" style="font-size:10.0pt;">. We are subject to the provisions of Section&nbsp;203
of the Delaware General Corporation Law. Subject to certain exceptions, Section&nbsp;203
prohibits a publicly held Delaware corporation from engaging in a &#147;business
combination&#148; with an &#147;interested stockholder&#148; for a period of three years after
the person became an interested stockholder, unless the business combination is
approved in a prescribed manner. A &#147;business combination&#148; includes mergers,
asset sales and other transactions resulting in a financial benefit to the
interested stockholder. Subject to exceptions, an &#147;interested stockholder&#148; is a
person who, together with affiliates and associates, owns, or within the prior
three years did own, 15 percent or more of the corporation&#146;s voting stock.&#160; This provision could have the effect of
delaying or preventing a change in control of our company.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Indemnification</font></i><font size="2" style="font-size:10.0pt;">. Our charter and bylaws contain provisions to
indemnify our directors and officers to the fullest extent permitted by the
Delaware General Corporation Law. These provisions do not limit or eliminate
our right or the right of any stockholder of ours to seek non-monetary relief,
such as an injunction or rescission in the event of a breach by a director or
an officer of his duty of care to us.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition, we have entered into agreements with our directors and
officers regarding indemnification, in addition to indemnification provided for
in our Certificate of Incorporation, Bylaws and the Delaware General
Corporation Law.&#160; Under these agreements,
we are required to indemnify our current and former directors and officers
against expenses, judgments, penalties, fines, settlements and other amounts
actually and reasonably incurred, including expenses of a derivative action, in
connection </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9</font></p>

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</div>
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<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">with an actual or threatened proceeding if any of them
may be made a party because he or she is or was one of our directors or
officers.&#160; We will be obligated to pay
these amounts only if the director or officer acted in good faith and in a
manner that he or she reasonably believed to be in or not opposed to our best
interests.&#160; With respect to any criminal
proceeding, we will be obligated to pay these amounts only if the director or
officer had no reasonable cause to believe his or her conduct was
unlawful.&#160; The indemnification agreements
also set forth procedures that will apply in the event of a claim for
indemnification.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Stockholder Action; Special Meeting of Stockholders</font></i><font size="2" style="font-size:10.0pt;">. Our bylaws provide that any action
required to be taken at any annual or special meeting of stockholders, or any
action which may be taken at any annual or special meeting of such
stockholders, may be taken without a meeting, without prior notice and without
a vote, if a consent in writing, setting forth the action so taken, shall be
signed by the holders of outstanding stock having not less than the minimum
number of votes that would be necessary to authorize or take such action at a
meeting at which all shares entitled to vote thereon were present and voted.
Our bylaws also provide that special meetings of stockholders may only be
called by the president and shall be called by the president or secretary at
the request in writing of stockholders owning a majority in the amount of the
entire capital stock of the corporation issued and outstanding and entitled to
vote.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Advance Notice Requirements for Stockholder
Proposals and Director Nominations</font></i><font size="2" style="font-size:10.0pt;">. Our bylaws provide that stockholders who desire to
nominate a person for election to our board of directors must comply with
specified notice and information provisions. Our bylaws contain similar advance
notice provisions for stockholder proposals for action at stockholder meetings.
These provisions prevent stockholders from making nominations for directors and
stockholder proposals from the floor at any stockholder meeting and require any
stockholder making a nomination or proposal to submit the name of the nominees
for board seats or the stockholder proposal, together with specified
information about the nominee or any stockholder proposal, prior to the meeting
at which directors are to be elected or action is to be taken. These provisions
ensure that stockholders have adequate time to consider nominations and
proposals before action is required, and they may also have the effect of
delaying stockholder action.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">PLAN
OF DISTRIBUTION</font></b><a name="PlanOfDistribution_211947"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to General Instruction I.B.6 of Form&nbsp;S-3, we are
permitted to use the registration statement of which this prospectus forms a
part to sell a maximum amount of securities equal to one-third (33.33 percent)
of the aggregate market value our outstanding, publicly held voting and
non-voting common equity in any 12 month period. We may, from time to time,
offer the securities registered hereby up to this maximum amount.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We may sell the securities offered by this prospectus in one or more of
the following ways from time to time:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">to or through underwriters or dealers; or</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">directly to purchasers, including our
affiliates.</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">through agents;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">through a block trade in which the broker
or dealer engaged to handle the block will attempt to sell the securities as
agent, but may position and resell a portion of the block as principal to
facilitate the transaction; or</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">through a combination of any of these
methods of sale.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition, we may issue the securities being offered by this
prospectus as a dividend or distribution.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We may effect the distribution of the securities from time to time in
one or more transactions at a fixed price or prices, which may be changed from
time to time, at market prices prevailing at the time of sale, at prices
related to prevailing market prices or at negotiated prices.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We will set forth in a prospectus supplement the terms of the offering
of our securities, including:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the type and amount of securities we are
offering;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the purchase price of our securities
being offered and the net proceeds we will receive from the sale;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the method of distribution of the
securities we are offering;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the name or names of any agents,
underwriters or dealers;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any over-allotment options under which
underwriters may purchase additional securities from us;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any underwriting discounts and
commissions or agency fees and commissions and other items constituting
underwriters&#146; or agents&#146; compensation;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any discounts or concessions allowed or
reallowed or paid to dealers; and</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any securities exchanges on which such
securities may be listed.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Sale Through Underwriters or Dealers</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If we use an underwriter or underwriters in the sale of securities
offered by this prospectus, the underwriters will acquire the securities for
their own account, including through underwriting, purchase, security lending
or repurchase agreements with us. The underwriters may resell the securities
from time to time in one or more transactions, including negotiated
transactions. Underwriters may sell the securities in order to facilitate
transactions in any of our other securities (described in this prospectus or
otherwise), including other public or private transactions and short sales.
Underwriters may offer securities to the public either through underwriting
syndicates represented by one or more managing underwriters or directly by one
or more firms acting as underwriters. Unless otherwise indicated in the prospectus
supplement, the obligations of the underwriters to purchase the securities will
be subject to certain conditions, and the underwriters will be obligated to
purchase all the offered securities if they purchase any of them. The
underwriters may change from time to time any public offering price and any
discounts or concessions allowed or reallowed or paid to dealers.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If we use an underwriter or underwriters in the sale of securities, we
will execute an underwriting agreement with the underwriter or underwriters at
the time we reach an agreement for sale. We will set forth in the applicable
prospectus supplement the names of the specific managing underwriter or
underwriters, as well as any other underwriters, and the terms of the
transactions, including compensation of the underwriters and dealers. This
compensation may be in the form of discounts, concessions or commissions.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>

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<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We may grant to the underwriters options to purchase additional
securities to cover over-allotments, if any, at the public offering price with
additional underwriting discounts or commissions. If we grant any
over-allotment option, the terms of any over-allotment option will be set forth
in the prospectus supplement relating to those securities.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Sale Through Dealers</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If we use dealers in the sale of the securities offered by this
prospectus, we or an underwriter will sell the securities to them as
principals. The dealers may then resell those securities to the public at
varying prices to be determined by the dealers at the time of resale. The
applicable prospectus supplement will set forth the names of the dealers and
the terms of the transactions.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Direct Sales</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We may directly solicit offers to purchase the securities offered by
this prospectus. In this case, no underwriters or agents would be involved. We
may sell the securities directly to institutional investors or others who may be
deemed to be underwriters within the meaning of the Securities Act with respect
to any sale of those securities. The terms of any such sales will be described
in the prospectus supplement.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Sales Through Agents</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Securities also may be offered and sold through agents designated from
time to time. The prospectus supplement will name any agent involved in the
offer or sale of the securities and will describe any commissions payable to
the agent. Unless otherwise indicated in the applicable prospectus supplement,
any agent will agree to use its reasonable best efforts to solicit purchases
for the period of its appointment.&#160; Any
agent may be deemed to be an underwriter within the meaning of the Securities
Act with respect to any sale of those securities.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Delayed Delivery Contracts</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the applicable prospectus supplement indicates, we may authorize
agents, underwriters or dealers to solicit offers from institutions to purchase
securities at the public offering price under delayed delivery contracts. These
contracts would provide for payment and delivery on a specified date in the
future. Institutions with which contracts of this type may be made include
commercial and savings banks, insurance companies, pension funds, investment
companies, educational and charitable institutions, but in all cases those
institutions must be approved by us.&#160; The
obligations of any purchaser under any contract of this type will be subject to
the condition that the purchase of the securities shall not at the time of
delivery be prohibited under the laws of the jurisdiction to which the
purchaser is subject.&#160; The applicable
prospectus supplement will describe the commission payable for solicitation of
those contracts.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Market Making, Stabilization and Other Transactions</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our common stock is listed on the NASDAQ Global Market.&#160; Any common stock sold pursuant to a
prospectus supplement will be eligible for listing and trading on the NASDAQ
Global Market, subject to official notice of issuance. Unless the applicable
prospectus supplement states otherwise, each other class or series of
securities issued will be a new issue and will have no established trading
market. We may elect to list any other class or series of securities on an
exchange, but we are not currently obligated to do so. Any underwriters that we
use in the sale of offered securities may make a market in such securities, but
may discontinue such market making at any time without notice. Therefore, we
cannot assure you that the securities will have a liquid trading market.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12</font></p>

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<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any underwriter may also engage in stabilizing transactions, syndicate
covering transactions and penalty bids in accordance with Regulation M under
the Securities Exchange Act of 1934, as amended. Stabilizing transactions
involve bids to purchase the underlying security in the open market for the
purpose of pegging, fixing or maintaining the price of the securities. Syndicate
covering transactions involve purchases of the securities in the open market
after the distribution has been completed in order to cover syndicate short
positions.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Penalty bids permit the underwriters to reclaim a selling concession
from a syndicate member when the securities originally sold by the syndicate
member are purchased in a syndicate covering transaction to cover syndicate
short positions. Stabilizing transactions, syndicate covering transactions and
penalty bids may cause the price of the securities to be higher than it would
be in the absence of the transactions. The underwriters may, if they commence
these transactions, discontinue them at any time.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Derivative Transactions and Hedging</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We, the underwriters or other agents may engage in derivative
transactions involving the securities. These derivatives may consist of short
sale transactions and other hedging activities. The underwriters or agents may
acquire a long or short position in the securities, hold or resell securities
acquired and purchase options or futures on the securities and other derivative
instruments with returns linked to or related to changes in the price of the
securities. In order to facilitate these derivative transactions, we may enter
into security lending or repurchase agreements with the underwriters or agents.
The underwriters or agents may effect the derivative transactions through sales
of the securities to the public, including short sales, or by lending the
securities in order to facilitate short sale transactions by others. The
underwriters or agents may also use the securities purchased or borrowed from
us or others (or, in the case of derivatives, securities received from us in
settlement of those derivatives) to directly or indirectly settle sales of the securities
or close out any related open borrowings of the securities.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Electronic Auctions</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We may also make sales through the Internet or through other electronic
means. Since we may from time to time elect to offer securities directly to the
public, with or without the involvement of agents, underwriters or dealers,
utilizing the Internet or other forms of electronic bidding or ordering systems
for the pricing and allocation of such securities, you will want to pay
particular attention to the description of that system we will provide in a
prospectus supplement.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Such electronic system may allow bidders to directly participate,
through electronic access to an auction site, by submitting conditional offers
to buy that are subject to acceptance by us, and which may directly affect the
price or other terms and conditions at which such securities are sold. These
bidding or ordering systems may present to each bidder, on a so-called &#147;real-time&#148;
basis, relevant information to assist in making a bid, such as the clearing
spread at which the offering would be sold, based on the bids submitted, and
whether a bidder&#146;s individual bids would be accepted, prorated or rejected. Of
course, many pricing methods can and may also be used.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Upon completion of such an electronic auction process, securities will
be allocated based on prices bid, terms of bid or other factors. The final
offering price at which securities would be sold and the allocation of
securities among bidders would be based in whole or in part on the results of
the Internet or other electronic bidding process or auction.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>

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<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table
of Contents</a></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">General
Information</font></b></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agents,
underwriters, and dealers may be entitled, under agreements entered into with
us, to indemnification by us against specified liabilities, including
liabilities under the Securities Act, or to contribution by us to payments they
may be required to make in respect to such liabilities.&#160; The applicable prospectus supplement will
describe the terms and conditions of indemnification or contribution. Some of
our agents, underwriters, and dealers, or their affiliates, may be customers
of, engage in transactions with or perform services for us, in the ordinary
course of business.&#160; We will describe in
the prospectus supplement the nature of any such relationship and the name of
the parties involved.&#160; Any lockup
arrangements will be set forth in the applicable prospectus supplement.</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">LEGAL
MATTERS</font></b><a name="LegalMatters_211637"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The validity of the securities offered hereby will be passed upon for
us by Oppenheimer Wolff&nbsp;&amp; Donnelly LLP.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">EXPERTS</font></b><a name="Experts_211639"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The financial statements incorporated in this prospectus by reference
to our annual report on Form&nbsp;10-K for the year ended August&nbsp;31, 2008
have been so incorporated in reliance on the report of Virchow, Krause&nbsp;&amp;
Company, LLP, an independent registered public accounting firm, given on the
authority of said firm as experts in auditing and accounting.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">WHERE
YOU CAN FIND MORE INFORMATION</font></b><a name="WhereYouCanFindMoreInformation_211640"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We file annual, quarterly and special reports, proxy statements and
other documents with the SEC. You may read and copy any document we file at the
SEC&#146;s public reference room at 100 F Street, N.E., Washington, D.C. 20549. You
should call 1-800-SEC-0330 for more information on the public reference room.
The SEC maintains an Internet website at http://www.sec.gov that contains
reports, proxy and information statements, and other information regarding
issuers of securities, like us, that file electronically with the SEC. Our SEC
filings are available to you on the SEC&#146;s Internet website.&#160; We also maintain a website at
http://www.ntic.com, which provides additional information about our
company.&#160; The content of our website or
any other website, however, are not a part of this prospectus and is not
incorporated by reference into this prospectus or any accompanying prospectus
supplement.&#160; Our website address is
included as an inactive textual reference only.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This prospectus is part of a registration statement that we filed with
the SEC. The registration statement, including certain exhibits and schedules
and the information incorporated by reference, contains more information than
this prospectus regarding us and our securities. You can obtain a copy of the
registration statement from the SEC at the address listed above or from the SEC&#146;s
Internet site.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">INCORPORATION
OF CERTAIN DOCUMENTS BY REFERENCE</font></b><a name="IncorporationOfCertainDocumentsBy_211643"></a></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We are incorporating by reference certain documents we file with the
SEC, which means that we can disclose important information to you by referring
you to those documents. The information in the documents incorporated by
reference is considered to be part of this prospectus. Information in documents
that we file with the SEC after the date of this prospectus will automatically
update and supersede information in this prospectus. We incorporate by
reference the documents listed below and any future filings we may make with
the SEC under Section&nbsp;13(a), 13(c), 14 or 15(d)&nbsp;of the Exchange Act
after the date of this prospectus and before the termination of the offering.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>

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<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Our annual report on Form&nbsp;10-K for
the fiscal year ended August&nbsp;31, 2008;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Our quarterly report on Form&nbsp;10-Q
for the quarter ended November&nbsp;30, 2008;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Our current report on Form&nbsp;8-K as
filed with the SEC on November&nbsp;24, 2008; and</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The description of our common stock
contained in our registration statement on Form&nbsp;8-A dated June&nbsp;26,
2008, and including any other amendments or reports filed for the purpose of
updating that description.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We are not, however, incorporating by reference any documents or
portions of documents that are not deemed &#147;filed&#148; with the SEC.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Information contained in this prospectus supplements, modifies or
supersedes, as applicable, the information contained in earlier-dated documents
incorporated by reference. Information contained in later-dated documents
incorporated by reference supplements, modifies or supersedes, as applicable,
the information contained in this prospectus or in earlier-dated documents
incorporated by reference.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">You may request, orally or in writing, a copy of these documents, which
will be provided to you at no cost, by contacting:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Northern Technologies International Corporation</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4201 Woodland Road</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Circle Pines, MN 55014</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention: Chief Financial Officer</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Telephone:
(763) 225-6637</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">You should rely only on the information contained in this prospectus,
including information incorporated by reference as described above, or any
prospectus supplement that we have specifically referred you to. We have not
authorized anyone else to provide you with different information. You should
not assume that the information in this prospectus or any prospectus supplement
is accurate as of any date other than the date on the front of those documents
or that any document incorporated by reference is accurate as of any date other
than its filing date. You should not consider this prospectus to be an offer or
solicitation relating to the securities in any jurisdiction in which such an
offer or solicitation relating to the securities is not authorized.
Furthermore, you should not consider this prospectus to be an offer or
solicitation relating to the securities if the person making the offer or
solicitation is not qualified to do so, or if it is unlawful for you to receive
such an offer or solicitation.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<br clear="all" style="page-break-before:always;">
<div>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NORTHERN TECHNOLOGIES
INTERNATIONAL CORPORATION</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">$50,000,000</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Common Stock</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Warrants</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Units</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PROSPECTUS</font></b><a name="Prospectus_214155"></a></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">January&nbsp;15,
2009</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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