I guess if stops gamma and x-rays it will stop cosmic rays as well. This is excellent news, no reason why it won't be available to the public by 2012.

I'm posting the complete article here in case in disappears online...

Report: New Fabric Protects Against Radiation

LONDON (Reuters) - Scientists have created what is claimed to be the world's first radiation-proof fabric which provides as much protection as a lead vest but at a fraction of the weight.

Instead of heavy metals to block radiation and X-rays, the new fabric called Demron is non toxic, lead-free and fused between two layers of woven fabric.

"Demron's potential applications range from lightweight full-body suits -- that would allow the wearer to move unencumbered in high-radiation areas -- to protective tents and radiation-proof linings for aircraft and spacecraft," New Scientist magazine said Wednesday.

Unlike traditional protective clothing that only protects against alpha radiation, the new fabric developed by the Florida-based company Radiation Shield Technologies also blocks beta and gamma rays. All three are emitted by the decay of radioactive substances and X-rays.

The fabric was originally designed to protect medical staff from X-ray radiation in operating rooms but its creators believe it will also be useful in the nuclear industry.

But Janine Claber, of British Nuclear Fuels, said the real test of how good the fabric is will depend on the level of protection it offers and how it reacts when subjected to radiation.