Intelligent Energy Demonstrates Utility of its CORE Technology, Unveils World's First Purpose-Built Fuel Cell Motorbike

LOS ANGELES--March 18, 2005--Intelligent Energy Holdings, Plc., a London-based energy solutions company that plans to relocate its corporate headquarters to Los Angeles, this week unveiled ENV, the world's first purpose-built, fuel-cell motorbike. The ENV bike was shown to Intelligent Energy investors and invited guests at The Science Museum, London. The company said it will conduct a similar event in California, where political and economic support for hydrogen powered vehicles is mounting.

The ENV (Emissions Neutral Vehicle) bike is fully-functioning and has been engineered and purpose-built from the ground up, based on Intelligent Energy's CORE fuel cell, demonstrating the everyday applicability of this alternative energy technology. The CORE, which is completely detachable from the bike, is capable of powering many items, from motorboats to small homes.

"People soon will be able to use a bike like ENV, leaving work in the city, then driving to the countryside, detaching the CORE and re-attaching it to another vehicle, such as a motorboat, before using it to power a log cabin. The very same fuel cell then could be re-charged from a mini hydrogen creator, the size of a shoebox," said Intelligent Energy's Chief Executive Officer Dr. Harry Bradbury. "The launch of ENV breaks new ground and opens an entire new field of opportunities for low- and high-power fuel cell motorbikes."

Bradbury said the company's vision of complete electrical self-sustainability is particularly compelling for remote communities and especially for the developing world, where large grids are not economically viable and where fuel cells offer both easy portability and power delivery at the point of consumption, with no loss of efficiency.

ENV is lightweight, streamlined and aerodynamic, with a performance that Bradbury said exceeds any existing electrical bike. In an urban or off-road environment, it can reach speeds of 50 mph. It also is virtually silent, with noise emissions equivalent to an everyday home computer, and its emissions are almost completely clean. On a full tank, the ENV bike could be used continually for up to four hours without the need for re-fuelling. The bike has no gears and is strictly defined as a motorbike, although it feels to riders more like a very quick and responsive mountain bike.

In February, Dickie Walker Marine, Inc. , based in Oceanside, CA, said it would acquire Intelligent Energy, which would become the primary business of the proposed ongoing entity.

"This is yet another clear example of the myriad applications available for fuel cell technologies and why we believe Intelligent Energy holds tremendous promise to build shareholder value," said Gerald W. Montiel, chief executive officer of Dickie Walker Marine.

About Intelligent Energy Holdings Plc

Intelligent Energy, an energy solutions company with a proprietary suite of new energy technologies, is focused on commercializing energy services in hydrogen generation, fuel storage and power generation using proton exchange membrane (PEM) fuel cell technology. Intelligent Energy's products and technologies provide solutions for global applications in the motive, distributed energy, military and portable markets. With offices in London, Loughborough, Johannesburg, Albuquerque and Los Angeles, Intelligent Energy is currently involved in market activities in Europe, Asia, the Americas and Africa. For more information, visit the company's Web site at (www.intelligent-energy.com).