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Plug Power Announces Follow-On Purchase Order for 120 GenCore(R) Fuel Cell Systems From IST in South Africa

Posted on: Thursday, 19 October 2006, 03:00 CDT

LATHAM, N.Y., Oct. 19 /PRNewswire-FirstCall/ -- Plug Power Inc. , a leader in providing clean, reliable on-site energy products, today announced that IST Holdings (PTY) Ltd. (IST), a Plug Power distributor headquartered in Pretoria, South Africa, has issued a follow-on purchase order for 120 of the Company's GenCore(R) backup fuel cell systems.

"This represents Plug Power's largest single purchase order to date from an international distributor and is also a resounding testament to our aggressive engagement of the South African market with IST," said Greg Silvestri, Plug Power's President.

Plug Power will continue to build on its growing presence in South Africa and is currently participating in the 9th annual GSM 3G Africa conference, a leading Pan-African communication event. Plug Power is exhibiting its GenCore backup fuel cell system, including a new battery free model that utilizes ultracapacitor technology. More than 3,500 attendees, including representatives of Africa's leading telecommunication and utility companies, are expected to attend the event.

"The ultracapacitor feature allows us to better meet the demands of customers that require reliable on-site backup power in remote regions, where immoderate climates and severe temperatures negatively impact battery life spans and overall performance," noted Mark Sperry, Plug Power's Chief Marketing Officer.

In December 2005, the International Finance Corporation (IFC), the private sector arm of the World Bank Group, awarded a $3 million grant to IST and Plug Power to install 400 fuel cells in remote locations and cities throughout South Africa over a three-year period. IST operates throughout Africa's southern countries and sees the supply of fuel cells in South Africa under the IFC program as a logical step toward introducing fuel cells and other renewable energy projects across the African continent.

About IST

Founded in 1980 as a systems technology integrator for industrial markets, IST today is comprised of two major operating segments: the electronics group, which is engaged in the energy system and telecommunication sectors, and the mechanical group, which serves the defense, nuclear power system and multi- disciplinary project sectors. The group's headquarters is in Pretoria, South Africa, from which it bases its operations throughout Southern Africa, as well as North Africa, the Middle East, Australia and Europe. For more information, please visit http://www.ist.co.za/.

About Plug Power

Plug Power Inc. is an established leader in the deployment of clean, reliable, on-site energy products. More than 650 Plug Power fuel cell systems have been delivered to customers worldwide in commercial, public sector, telecommunications, utility and uninterruptible power supply markets. For more information about how to join Plug Power's energy revolution as an investor, customer, supplier or strategic partner, please visit http://www.plugpower.com/.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We believe that it is important to communicate our future expectations to our investors. However, there may be events in the future that we are not able to accurately predict or control and that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements, including, without limitation, the risk that possible strategic benefits of the Smart Hydrogen transaction do not materialize, Plug Power's ability to develop commercially viable on-site energy products; the cost and timing of developing Plug Power's on-site energy products; market acceptance of Plug Power's on-site energy products; Plug Power's ability to manufacture on-site energy products on a large-scale commercial basis; competitive factors, such as price competition and competition from other traditional and alternative energy companies; the cost and availability of components and parts for Plug Power's on-site energy products; Plug Power's ability to establish relationships with third parties with respect to product development, manufacturing, distribution and servicing and the supply of key product components; Plug Power's ability to protect its intellectual property; Plug Power's ability to lower the cost of its on-site energy products and demonstrate their reliability; the cost of complying with current and future governmental regulations; the impact of deregulation and restructuring of the electric utility industry on demand for Plug Power's on- site energy products and other risks and uncertainties discussed under "Item IA-Risk Factors" in Plug Power's annual report on Form 10-K for the fiscal year ended December 31, 2005, filed with the Securities and Exchange Commission ("SEC") on March 14, 2006, and the reports Plug Power files from time to time with the SEC. Plug Power does not intend to and undertakes no duty to update the information contained in this press release.

Plug Power Inc.

CONTACT: Cynthia Mahoney White, Manager, Public Relations & Marketing,Phone - +1-518-782-7700 ext. 1973, Mobile - +1-518-527-1172,cynthia_mahoneywhite@plugpower.com

Web site: http://www.plugpower.com/http://www.ist.co.za/

Source: PRNewswire-FirstCall

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