Energy Conversion Devices Demonstrates Key Enabling Hydrogen Solutions To President Bush at a White House Energy Independence Event

   Hydrogen Economy Pioneer to Help Make State of the Union Goal a Reality

    ROCHESTER HILLS, Mich., Feb. 11 -- Energy Conversion Devices, Inc. (ECD) , was one of 22 companies
asked to exhibit its unique hydrogen solutions last week for President George
W. Bush, Secretary of Energy, Spencer Abraham, Administrator of the
Environmental Protection Agency, Christine Todd Whitman, members of the U.S.
Congress, and distinguished guests.  Further, ECD was one of the few companies
selected to directly showcase and explain its solutions to the President.  For
more information on the event and to see a photo of ECD Chairman Robert C.
Stempel with President Bush, please visit:
http://www.whitehouse.gov/news/releases/2003/02/images/20030206-12_d0200603-
515h.html
    As part of his domestic agenda outlined in the recent State of the Union
Address, President Bush announced a $1.2 billion program called the Freedom
Fuel Initiative.  This program, designed to speed the development of hydrogen-
powered vehicles, received a pledge from the President to invest $720 million
in new funding over the next five years to come up with the infrastructure
needed to produce, store and distribute hydrogen.
    "I'm going to work with the Congress to move this nation forward on
hydrogen fuel cell technologies," said President Bush in his keynote at last
week's event.  He added, "We must increase the capacity of hydrogen storage
systems ... [and] put in place the infrastructure to get hydrogen to the
consumers ... The new effort that we're undertaking with Congress' help is to
develop a system for producing and delivering hydrogen fuel so that when the
cars are ready, people can fill them up at their convenience."
    ECD has been a major proponent of the Hydrogen Economy vision since the
company's founding in 1960 and has pioneered the development of numerous
hydrogen-based, environmentally friendly technologies ranging from solid
hydride hydrogen storage systems and rechargeable nickel metal hydride
batteries to fuel cells and solar panels, all required to turn vision into
reality.  ECD is the only company that has developed complete systems
solutions for the hydrogen economy that enable hydrogen generation, can
provide safe, effective storage of hydrogen for transportation, distribution,
refueling and on-board use, and can drive hydrogen powered vehicles through
its unique regenerative fuel cell.
    "We are pleased to see the President put a stake in the ground showing his
commitment to the advancement of the technology needed for the hydrogen
economy," said ECD's founder, president and CEO, Stanford R. Ovshinsky.  "We
have already entered the hydrogen economy by virtue of our NiMH batteries
which power hybrid electric vehicles available today."
    ECD is the leader in the synthesis of new materials and the development of
advanced production technology and innovative products.  It has invented,
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
feedstock 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 website 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.