Energy Conversion Devices Files its Annual Report on Form 10-K for Fiscal Year Ended June 30, 2003

ROCHESTER HILLS, Mich., Oct. 22, 2003 -- Energy Conversion Devices, Inc. (ECD) announced that it has filed its Annual Report on Form 10-K for the fiscal year ended June 30, 2003 with the Securities and Exchange Commission today. As previously reported, ECD expects NASDAQ to restore the trading symbol for ECD's securities from ENERE to ENER and to continue to list the Company on the NASDAQ National Market.

There is no change in the audited year-end operating results from the unaudited results reported on October 15, 2003. Since the Company held a conference call on October 15 to discuss the year-end operating results, which can be accessed through its website, there will not be a conference call following the filing of the Form 10-K.

About ECD Ovonics:

ECD Ovonics 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 in the fields of energy and information leading to new products and production processes based on amorphous, disordered and related materials. ECD Ovonics' proprietary advanced information technologies include Ovonic(TM) phase-change electrical memory, Ovonic(TM) phase-change optical memory and the Ovonic(TM) Threshold Switch. The Company's portfolio of alternative energy solutions includes thin-film amorphous solar cells, modules, panels and systems for generating solar electric power; NiMH batteries; hydride storage materials capable of storing of hydrocarbon fuel; and fuel cell technology. ECD Ovonics 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 Ovonics holds the basic patents in its fields. More information on ECD Ovonics is available on 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 Ovonics, as of the date of this release, believes to be reasonable and appropriate. ECD Ovonics 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.