Quantum Completes $7.3 Million Public Equity Offering

QUANTUM TECHNOLOGIES LOGO
Quantum Technologies, Inc. Logo. (PRNewsFoto)[TC]
IRVINE, CA USA 03/20/2001
    IRVINE, Calif., Jan. 23 Quantum Fuel Systems Technologies Worldwide, Inc. today
announced the completion of a public offering of 3.5 million shares of its
common stock.  All of the shares were sold by the company, with net proceeds
to the company of approximately $7.3 million before offering related expenses.
The offering was underwritten by Adams, Harkness & Hill, Inc., a Boston-based
investment banking firm.  The company has also granted the underwriters an
option to purchase up to an additional 525,000 shares to cover
over-allotments.  Copies of the prospectus may be obtained from Adams,
Harkness & Hill, Inc. 60 State Street, 6th Floor, Boston, Massachusetts 02109.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/20010320/QUANTUMLOGO )
    QUANTUM designs, manufactures and supplies integrated fuel systems to
original equipment manufacturers (OEMs) of fuel cell applications and
alternative fueled vehicles.  These fuel cell applications include
transportation and industrial vehicles, stationary power generation, and
portable power generation.  Alternative fueled vehicles include cars, trucks,
and buses powered by internal combustion engines that operate primarily on
natural gas or propane.  QUANTUM's advanced fuel systems comprise the storage,
monitoring, control, and injection of gaseous fuels to improve efficiency,
enhance power output, and optimize emissions from fuel cell systems and
internal combustion engines.  QUANTUM's fuel systems enable fuel cells and
internal combustion engines to operate on hydrogen, natural gas, or propane.
    A registration statement relating to these securities has been filed with
the Securities and Exchange Commission and has been declared effective.  This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sales of these securities in any state in
which such an offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such state.

    For more information, please contact: Dale Rasmussen, Investor Relations
of QUANTUM Fuel Systems Technologies Worldwide, Inc., +1-206-318-8242.