QUANTUM Announces Close of Over-Allotment Option In Connection With Public Equity Offering

    IRVINE, Calif., Jan. 31 -- QUANTUM Fuel Systems
Technologies Worldwide, Inc. , announced today that it has
closed the sale of 525,000 shares of its common stock pursuant to the
underwriters' over-allotment option in connection with its recent public
equity offering.  The shares were sold at the public offering price of
$2.25 per share, less the applicable underwriting discount.  The purchase of
the over-allotment shares brings the total number of shares of common stock
sold in the offering to 4,025,000 shares.
    The offering was underwritten by Adams, Harkness & Hill, Inc., a
Boston-based investment banking firm.  Copies of the prospectus may be
obtained from Adams, Harkness & Hill, Inc. 60 State Street, 6th Floor, Boston,
Massachusetts 02109.

    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,
QUANTUM Fuel Systems Technologies Worldwide, Inc., +1-206-315-8242.

          (C) 2003 QUANTUM Fuel Systems Technologies Worldwide, Inc.
                          Advanced Technology Center
                   17872 Cartwright Road, Irvine, CA  92614
                    Phone 949-399-4500   Fax 949-399-4600