ECD Establishes Director of Risk Management and Internal Audit Position

ROCHESTER HILLS, Mich., Sept. 8 -- Energy Conversion Devices, Inc. today named Joseph S. Crocenzi as Director of Corporate Risk Management and Internal Audit, a position established as part of ECD's program to further ensure compliance with the provisions of the Sarbanes-Oxley Act of 2002.

Mr. Crocenzi will chair the Company's Risk Management Committee. He will be responsible for managing the Company's internal audit activities and leading the assessment of the effectiveness of the Company's internal controls in compliance with the Sarbanes-Oxley Act. He will report to Robert C. Stempel, Chairman of the Board, and the Audit Committee of the Board of Directors.

"We have complete confidence in the integrity of our financial reporting and the way we do business. We take corporate governance seriously and have a strong system and culture that stand for performance with integrity. We applaud the proposals put forward by the Securities and Exchange Commission and Nasdaq and will continue to make the positive governance changes required of public companies under Sarbanes-Oxley," said Mr. Stempel.

Prior to joining ECD Ovonics in November 2001, Mr. Crocenzi, a certified public accountant, spent several years as Senior Manager and Senior Accountant with PricewaterhouseCoopers LLP and Deloitte & Touche LLP, respectively. He is a member of the American Institute of Certified Public Accountants and Michigan Association of Certified Public Accountants. Mr. Crocenzi received a bachelor's degree in accountancy from Walsh College of Accountancy, Troy, Mich., in 1990.

About ECD

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.