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Electro Energy Featured in EV World Article on Plug-In Hybrid Electric Vehicles

Posted on: Monday, 14 August 2006, 12:00 CDT

Electro Energy Inc. (NASDAQ: EEEI), a developer and manufacturer of advanced rechargeable batteries, was featured in an article in the Web publication www.evworld.com, a leading site focused on electric vehicles and sustainable transportation. The site claims more than 20,000 visitors a week who download more than 100,000 pages of information. (To read the article, please go to: http://www.evworld.com/view.cfm?section=article&storyid=1075.)

The article -- "When Can I Buy a Plug-In Prius?" -- focuses on recent efforts to create a plug-in hybrid (PHEV) variation of Toyota's Prius, a popular conventional hybrid electric vehicle (HEV) whose gas engine is supplemented by an electric motor.

Electro Energy has worked with the California Cars Initiative (CalCars, www.calcars.org) to convert a Prius into a PHEV that runs on Electro Energy's proprietary bi-polar nickel-metal hydride (BP-NiMH) battery. This PHEV is capable of driving over 20 miles on a single battery charge without using any gasoline, the equivalent of over 100 miles per gallon of fuel economy. Energy costs would be less than 3 cents per mile in all-electric mode with gasoline at about $3 per gallon.

The article recounts Electro Energy's achievements, demonstrated at several high-profile events in the Spring of 2006, and discusses future expectations with EEEI's Founder and Chairman Martin G. Klein and with CEO Michael E. Reed.

Mr. Klein said, "We are bringing a new manufacturing center on line in Gainesville, Fla. This will allow us to ramp up production of both 'peaking power' batteries for acceleration and hill climbing and 'energy' batteries with larger capacity for extended-range driving."

Mr. Reed noted, "We are currently in discussions with both EPRI (Electric Power Research Institute) and the Department of Energy regarding other electric vehicle projects."

The article stated: "Electro Energy is actively negotiating with potential business partners as well, examining PHEV projects which would provide mutually beneficial exposure."

The article continued: "Aggressive pursuit of these PHEV projects makes good business sense for Electro Energy. Their bipolar NiMH battery architecture can deliver high current in a simple compact, lightweight package. The potential demand for PHEVs could make this sector Elector Energy's largest market. However, Electro Energy is not interested in mass producing complete PHEVs. Their goal is to provide batteries to automotive companies and/or integrators who would build and sell the vehicles."

Commented Mr. Reed, "We were very glad to see this article in this respected online publication. It accurately discusses the various avenues for development that are open to us and focuses on our expertise in creating innovative batteries that are lighter, more powerful, longer lasting and more adaptable than most products currently on the market. The electric vehicle market is clearly a major target for our new large facility in Florida."

About Electro Energy Inc.

Electro Energy Inc., headquartered in Danbury, Connecticut, was founded in 1992 to develop, manufacture and commercialize high-powered, rechargeable bi-polar nickel-metal hydride batteries for use in a wide range of applications. Its Colorado Springs operation supplies aerospace-grade high quality nickel cadmium batteries and components for satellites, aircraft and other specialty applications. EEEI is also developing high power lithium rechargeable batteries utilizing the Company's proprietary bi-polar design. EEEI has recently acquired significant manufacturing assets near Gainesville, Fla., to accelerate commercialization of its battery technology. For further information, please visit www.electroenergyinc.com.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: general economic and business conditions; competition; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies; research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of Electro Energy Inc.'s Securities and Exchange Commission filings available at http://www.sec.gov.

Pursuant to a December 1, 2004 agreement, Consulting For Strategic Growth I, Ltd. ("CFSG1") provides Electro Energy with consulting, business advisory, investor relations, public relations and corporate development services, for which CFSG1 receives a fixed monthly fee for the duration of the agreement. Independent of CFSG1's receipt of cash compensation from Electro Energy, CFSG1 may choose to purchase the common stock of Electro Energy and thereafter sell those shares at any time it deems appropriate to do so. For more information, please visit www.cfsg1.com.

 CONTACTS: Michael Reed President and CEO Tel: (203) 797-2699 Fax: (203) 797-2697 E-mail: Contact via http://www.marketwire.com/mw/emailprcntct?id=8D32035136DBEA82 www.electroenergyinc.com  Stanley Wunderlich Consulting for Strategic Growth 1 Tel: (800) 625-2236 Fax: (212) 337-8089 E-mail: Contact via http://www.marketwire.com/mw/emailprcntct?id=AA2EB26A652D13D0 www.cfsg1.com

SOURCE: Electro Energy Inc.

Source: MARKET WIRE

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