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American Stock Exchange Lists the Common Stock of Ener1, Inc.

NEW YORK, May 8, 2008 -- The American Stock Exchange(R) (Amex(R)) today lists the common stock of Ener1, Inc. under the ticker symbol HEV.

Ener1, Inc. engages in the development and commercialization of advanced, high-performance safe lithium-ion (Li-ion) batteries for hybrid electric vehicles (HEVs), plug-in HEVs (PHEVs) and electric vehicles (EVs). Ener1 is also developing commercial fuel cell products through its EnerFuel subsidiary and nanotechnology-based materials and manufacturing processes for batteries and other applications through its NanoEner subsidiary.

"We are pleased to welcome Ener1 to the American Stock Exchange," said Neal Wolkoff, Chairman and CEO, of Amex. "We look forward to working with Ener1 on building long-term shareholder value and liquidity as well as strong relationships with the investment community."

Ener1's Chairman Charles Gassenheimer commented, "We believe strongly in the importance of the milestones that we have set out for the company. Our listing on the Amex marks another major goal we have delivered. We are very proud to be associated with Amex, which has become key for energy and energy- related trading. The listing will provide Ener1 higher visibility with the global investment community as well as increased liquidity for our stock, all to the benefit of our current shareholders, future investors and the company as a whole."

The specialist for Ener1, Inc. is Weiskopf Silver & Co. For further information on HEV and other Amex-listed companies, please visit www.amex.com .

About American Stock Exchange

The American Stock Exchange(R) (Amex(R)) offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRS(SM). In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 391 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. For more information, please visit www.amex.com .

About Ener1, Inc.

Ener1, Inc. (AMEX:HEV) is an energy storage solutions company that is developing and commercializing advanced, high-performance safe lithium-ion (Li-ion) batteries for hybrid electric vehicles (HEVs), plug-in HEVs (PHEVs) and electric vehicles (EVs). Ener1 is also developing commercial fuel cell products through its EnerFuel subsidiary and nanotechnology-based materials and manufacturing processes for batteries and other applications through its NanoEner subsidiary. For more information, call (212) 920-3500.