Trimol Group Announces Cooperation Agreement With SAGEM SA to Jointly Develop Aluminum-air Fuel Cell Technology

    NEW YORK--April 30, 2001--Trimol Group, Inc. (OTC:BB: TMOL) announced today that it has completed the assignment of a Cooperation Agreement with SAGEM SA, a leading European manufacturer of sophisticated electronic systems and equipment, to jointly develop an aluminum-air fuel cell application for SAGEM portable electronics focusing on commercial as well as military applications.
    SAGEM is one of the world's largest manufacturers of cellular telephones and anticipates working with the Company to commercialize its aluminum-air fuel cell technology for use in portable consumer electronics that will be designed to provide significantly longer power than batteries currently available.
    Trimol Group recently acquired rights to the aluminum-air fuel cell technology for use in portable consumer electronic equipment from Aluminum-Power, Inc. a Toronto, Ontario based fuel cell development company. Aluminum-Power has agreed to carry out the product development work on this project for the Company.
    Rafael Ferry, Vice President of Marketing of the Company, made the announcement noting, "We are pleased to have this opportunity to work with SAGEM. This agreement is a major step toward enabling Trimol Group to bring the benefits of our revolutionary battery technology to the worldwide consumer market."
    Under the agreement, the Company, assisted by Aluminum-Power, and SAGEM have agreed to develop the fuel cell to be incorporated into a battery pack, which would constitute a power source for SAGEM's portable electronics. SAGEM has informed the Company that it anticipates the potential of having the new aluminum-air battery in its next generation of portable electronics currently under development. The agreement is non-exclusive and allows either party to work with others in the area of fuel cell or battery technology.
    SAGEM, www.sagem.com is an internationally based high-technology group which enjoyed consolidated sales of FRF 28 billion in 2000 (59.6% exports) and which employs 16,000 people, including 8,700 technical and managerial staff. The second largest French group in the field of telecommunications and the third largest European company in electronics for defence and security, SAGEM is also one of the leaders in automotive electronics equipment. SAGEM maintains a presence in more than twenty countries and has manufacturing centres in Germany, Brazil, Spain, the United States and the Czech Republic. The shares of SAGEM SA are listed on the Paris Stock Exchange. SAGEM stock also forms part of the SBF 80, the IT CAC 50, the DJ Stoxx, the DJ Euro Stoxx and the FOOTSIE EUROTOP 300.
    Trimol Group, Inc., www.trimolgroup.com is focused on the licensing, manufacturing, marketing and distribution of unique environmentally sound technologies, including the aluminum-air fuel cell technology for consumer products.
    For more information, please contact Rafael Ferry, Vice President of Marketing for Trimol Group at 866.277.3835, extension 224, or at 212.554.4394, or via e-mail at rferry@trimolgroup.com

    Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In addition to the factors set forth above, other important factors that could cause actual results to differ materially include, but are not limited to, technical risks associated with new technology development, government regulatory approvals and access to working capital. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the Company's SEC filing. Copies of these filings may be obtained by contacting the Company or the SEC. The Company undertakes no obligation to update any of the forward-looking statements contained in its press release.