Power Technology, Inc. Opens First Office In China

    LAS VEGAS--Aug. 13, 2001--Power Technology, Inc. (OTCBB:PWTC) (the "Company") announced today that the Company is opening a permanent office in Beijing, China.
    The office will be headed by Alan Rainbird, an internationally known, highly experienced China trade expert who has been intimately involved in the Chinese Electrical Vehicle program for the past six years.
    That program has developed a diverse range of vehicles ranging from electric bicycles to mopeds to motor scooters and motor cycles, to pick-up trucks, light vans and busses, to heavy trucks and cross-country coaches.
    According to Lee Balak, Power Technology's President and Chief Executive Officer, "China represents one of the fastest growing technology markets in the world. China's commitment to remain economically and technically competitive with high-quality goods, along with its government's commitment to reduce environmental pollution despite rapid industrialization, was a key factor in convincing us to launch our unique Energy Storage technology in China."
    "Furthermore," stated Mr. Balak, "China has made a major commitment to control environmental pollution, and in fact, today bans almost all motorized vehicles except ultra-clean ICE vehicles from major city centers. Not only is there a vast market for many new types of electric vehicles, but also there is an enormous replacement market in China for deep-cycle batteries for trucks and busses. We are confident that our new battery technology will help provide China with a viable solution to its power needs."
    Earlier this year, the Company announced that it had signed a Letter of Intent to form a foreign-invested joint venture with the Shuang Deng Power Source Company, a publicly-traded Nanjing company, and one of China's leading specialized battery manufacturers.
    Based on today's announcement, the joint venture now plans to begin constructing a new special-purpose facility in Taizhou, China to prepare for upcoming business activities.
    "Finally," commented Alan Rainbird, "with Beijing hosting the 2008 Olympic Games, China's Central Government is allotting billions of dollars to be spent on the Games infrastructure, with a significant portion of these funds earmarked for the environment, air quality, and the creation of fast, efficient, non-polluting transportation. Power Technology is looking forward to supporting China in its program of introducing electrically powered transportation to its businesses and citizens."
    Power Technology, Inc. is a Las Vegas-based technology development company which holds several patents in the power generation and power storage fields, and is working to provide innovative and practical battery-based technology solutions for commercial, government, and industrial applications worldwide.