EXHIBIT 99
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[ZOLTEK logo]


FOR IMMEDIATE RELEASE                              NASDAQ NMS SYMBOL:  "ZOLT"
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                       MCDONNELL TO LEAVE ZOLTEK BOARD
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         ST. LOUIS, MISSOURI -- JULY 27, 2006 -- Zoltek Companies, Inc.
today announced that John F. McDonnell will resign from Zoltek's board of
directors, effective August 1st. Mr. McDonnell, who cited personal reasons
for his resignation, has served on Zoltek's board since 1999.
         "We are grateful to John McDonnell for his wise guidance, his
timely financial investment and steadfast support of Zoltek over the past
seven years," said Zsolt Rumy, Zoltek's Chairman and Chief Executive
Officer. "Shortly after John joined the board Zoltek's hopes turned sour and
its strategy was questioned as the carbon fiber market collapsed, creating
huge problems for us. Even when our future was in jeopardy, John was a real
champion for Zoltek and the view that this Company should persevere in its
strategic mission to lead the commercialization of carbon fibers as a
significant 21st century product in the world of building materials."
         In his letter of resignation to Rumy, Mr. McDonnell wrote: "Now
that the market has finally endorsed your vision and strategy, you are on
the verge of your long-time objective of creating a business that will have
large, lasting impact on the future of our economy. You have my best wishes
for success as you complete your business journey."

                      FOR FURTHER INFORMATION CONTACT:

                               ZSOLT RUMY, CEO
                             3101 MCKELVEY ROAD
                             ST. LOUIS, MO 63044
                               (314) 291-5110

This press release contains forward-looking statements, which are based upon
the current expectations of the Company. Because these forward-looking
statements are inherently subject to risks and uncertainties, there are a
number of factors that could cause the Company's plans, actions and actual
results to differ materially. Among these factors are the Company's ability
to: re-activate its formerly idle manufacturing facilities on a timely and
cost-effective basis, to meet current order levels for carbon fibers;
successfully add new capacity for the production of carbon fiber and
precursor raw material; execute plans to exit its specialty products
business and reduce costs; achieve profitable operations; raise new capital
and increase its borrowing at acceptable costs; manage changes in customers'
forecasted requirements for the Company's products; continue investing in
application and market development; manufacture low-cost carbon fibers and
profitably market them; and penetrate existing, identified and emerging
markets. The timing and occurrence (or non-occurrence) of transactions and
events that determine the future effect of these factors on the Company, as
well as other factors, may be beyond the control of the Company. The Company
undertakes no obligation to update any forward-looking statement to reflect
events or circumstances after the date of this press release.