Ballard Receives US $1.88 Million Order from New Automotive Customer for Fuel Cells

    VANCOUVER, British Columbia--Nov. 25, 2002-- Ballard Power Systems (TSX:BLD) has received a US $1.88 million order from a new automotive customer for Ballard's fuel cell engine and support services. The contract will include Ballard's light-duty fuel cell engine, featuring the Mark 902 fuel cell module, application engineering, integration and vehicle launch support.
    "The performance of our Mark 902 fuel cell engine is attracting significant interest in the marketplace," said Dr. Andreas Truckenbrodt, Ballard's Vice President and General Manager, Transportation Division. "We are pleased to add another automotive company as a customer and we will work towards building a long-term relationship with them as their fuel cell vehicle development program moves forward."
    Ballard's focus on the transportation market is to drive product innovation, cost reduction, and the development of volume manufacturing processes. Ballard strives to work with customers to deliver fuel cell product solutions that meet their requirements to deliver the next generation of transportation power.

    This release contains forward-looking statements that are based on the beliefs of Ballard's management and reflect Ballard's current expectations as contemplated under the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Law of 1995. When used in this release, the words "estimate", "project", "believe", "anticipate", "intend", "expect", "plan", "predict", "may", "should", "will", the negative of these words or such other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current views of Ballard with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in those forward-looking statements.

    Ballard Power Systems is recognized as the world leader in developing, manufacturing and marketing zero-emission proton exchange membrane fuel cells. Ballard is commercializing fuel cell engines for transportation applications and fuel cell systems for portable and stationary products ranging from 1 kilowatt to 250 kilowatts. Ballard is also commercializing electric drives for fuel cell and other electric vehicles, power conversion products, natural gas and hydrogen generator sets and is a Tier 1 automotive supplier of friction materials for power train components. Ballard's proprietary technology is enabling automobile, bus, electrical equipment, portable power and stationary product manufacturers to develop environmentally clean products for sale. Ballard is partnering with strong, world-leading companies, including DaimlerChrysler, Ford, EBARA, ALSTOM and FirstEnergy, to commercialize Ballard (R) fuel cells. Ballard has supplied fuel cells to Honda, Nissan, Volkswagen, Yamaha, Cinergy and Coleman Powermate, among others.
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