Texaco Purchases Additional Shares of ECD Common Stock

               Texaco maintains its 20 percent interest in ECD

    TROY, Mich., Sept. 5 Energy Conversion Devices, Inc. (ECD)
announced today that, pursuant to the Stock Purchase Agreement
between ECD and Texaco Inc. , Texaco has exercised its right to
maintain its 20 percent interest in ECD following an increase in ECD's
outstanding Common Stock due to the exercise of warrants on July 31, 2001.
Texaco has purchased an additional 448,358 shares of ECD Common Stock for
approximately $8.9 million.
    ECD is the leader in the synthesis of new materials and the development of
advanced production technology and innovative products.  It has pioneered and
developed enabling technologies leading to new products and production
processes based on amorphous, disordered and related materials, with an
emphasis on advanced information technologies and alternative energy,
including photovoltaics, fuel cells, hydride batteries and hydride storage
materials capable of storing hydrogen in the solid state for use as a feed
stock for fuel cells or internal combustion engines or as an enhancement or
replacement for any type of hydrocarbon fuel.  ECD designs and builds
manufacturing machinery that incorporates its proprietary production
processes, maintains ongoing research and development programs to continually
improve its products and develops new applications for its technologies.  ECD
holds the basic patents in its fields.  ECD's web site address is
http://www.ovonic.com .
    This release may contain forward-looking statements within the meaning of
the Safe Harbor Provisions of the Private Securities Litigation Reform Act of
1995.  Such forward-looking statements are based on assumptions which ECD, as
of the date of this release, believes to be reasonable and appropriate.  ECD
cautions, however, that the actual facts and conditions that may exist in the
future could vary materially from the assumed facts and conditions upon which
such forward-looking statements are based.

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