Unique Mobility, Inc., Announces Q2 Results

14 November 1997

            Operations Reflect Ramp-Up of Manufacturing Capability

    GOLDEN, Colo., Nov. 14 -- Unique Mobility, Inc. (Amex: UQM)
reported an operating loss for the quarter ended September 30, 1997, of
$609,099 or $0.04 per share on total revenue of $792,629.  This compares with
an operating loss of $634,101 or $0.05 per share on total revenue of $723,274
for the comparable prior year quarter.
    "The Company continued to experience solid demand in its contract services
business throughout the second quarter; however, contract services revenue
levels during the quarter were adversely impacted by the Company's decision to
assign otherwise billable engineering personnel to manufacturing launch
activities for unique Power Products, Inc.," said Donald A. French, Unique's
Chief Financial officer.
    Unique Power Products is a wholly-owned subsidiary of Unique formed
earlier this year to perform volume manufacturing operations of proprietary
products developed by Unique.
    "We are committed to establishing volume manufacturing operations as soon
as practicable and this commitment was evidenced in the second quarter by our
cash investment in Unique Power Products of $1.5 million and the application
of these funds and Unique personnel to facility and production line layout,
tooling and equipment purchases and ISO 9000 quality certification activities
which are all well underway.  Production launch costs by Unique Power Products
contributed $99,158 to consolidated operating losses during the quarter and
are expected to rise moderately through the end of the current fiscal year,"
added Mr. French.
    Mr. French continued, "Manufacturing launch activities at Taiwan UQM,
Unique's 39 percent owned Taiwan-based manufacturing joint venture company,
are substantially complete with the recent completion of the volume
manufacturing line and the shipment of pilot production sets of starters and
alternators to Kwang Yang Motor Co., Ltd.  We expect commercial production
operations to ramp up by year-end following quality certification from KYMCO
on the pilot production units."
    The Company's operating loss for the six months ended September 30, 1997,
was $854,448 or $0.06 per share on total revenue of $2,049,791 versus a loss
of $1,267,599 or $0.11 per share on total revenue of $1,358,861 for the
comparable period last year.
    During the second quarter the Company completed a license and supply
agreement with Invacare Corporation, the world's leading manufacturer and
distributor of home health care products and mobility product for people with
disabilities, to manufacture and supply motors for a new power chair currently
under development by Invacare.
    Other recent developments include a strategic alliances with EV Global
Motors Company, headed by Lee A. Iacocca, ex-chairman of Chrysler Corporation,
to develop electric drive systems for bikes, scooters and other light
vehicles.  Under the alliance, EV Global acquired a 12 percent stake in Unique
and Mr. Iacocca joined Unique's board of directors.
    Taiwan UQM Electric Co., Ltd., based in Taipei, Taiwan ROC, is a licensee
of the Company's proprietary technology and a manufacturer of electric motors
and electronic controls.  Taiwan UQM is a joint venture of Taiwan-based Kwang
Yang Motor Co., Ltd. (39%), Turn-Luckily Technology Co., Ltd. (27%) and Unique
(39%).
    Unique Mobility, Inc. is one of the world's leading developers of energy
efficient electric and hybrid electric vehicle systems.  It is a Golden,
Colorado, based engineering concern and manufacturer of high efficiency
permanent magnet motors and controls for automotive, aerospace and industrial
applications.

                                  Quarter Ended         Six Months Ended
                                  September 30,            September 30,
                                1997       1996          1997        1996
    Revenue:
     Contract services      $ 673,759      539,193   1,703,370      983,474
     Product sales            118,870      184,081     346,421      375,387
                              792,629      723,274   2,049,791    1,358,861

    Cost and Expenses:
     Costs of revenue         806,635      492,445   1,844,408      985,969
     Research
      and development         167,899      484,366     256,737      880,488
     General
      and administrative      371,551      265,850     688,311      531,654
     Other                     55,643      114,714     114,783      228,349
                            1,401,728    1,357,375   2,904,239    2,626,460

    Net loss               $(609,099)    (634,101)   (854,448)  (1,267,599)

    Net loss per
     common share              $(.04)        (.05)         .06        (.11)

    Weighted average number
     of shares of common
     stock outstanding     13,701,823   11,246,O61  13,393,582   11,155,189

SOURCE  Unique Mobility, Inc.