iQ Power Experiencing Continued Success

MUNICH, Germany and VANCOUVER, British Columbia, Nov. 26 -- iQ Power Technology Inc. (OTC Bulletin Board: IQPR - news; OTC Frankfurt: IQP) announces that, as a direct result of the presentation of iQ Power's ``award-winning'' energy management system during the 2001 IAA International Motor Show in Frankfurt, Germany, the company was solicited by various original equipment manufacturers and has entered into advanced negotiations with three of Europe's leading automotive manufacturers for the application of its ``smart'' technology in their next generation of electronic automotive architecture. While negotiations are proceeding rapidly with all three manufacturers, iQ Power is pleased to confirm that final project specifications were settled with one of the German car manufacturers last week. iQ Power expects to conclude final commercial terms with this OEM manufacturer in the next 60 days. Further details will be provided as negotiations progress subject to the terms of the NDAs between the parties. These negotiations should result in the third major strategic alliance to utilize iQ Power's ``smart'' energy management technology following the DC Bus Alliance and the Daimler-Chrysler ``X-by-Wire'' PEIT project.

ABOUT iQ POWER

iQ POWER is engaged in the development and commercialization of advanced NEXT GENERATION BATTERY and SMART ENERGY MANAGEMENT TECHNOLOGY that incorporates internal micro-electronics to monitor and control the environment and operation of the battery as part of an integrated automotive electronic system