iQ Power Awarded Purchase Order By Premium Car Manufacturer

MUNICH, Germany, Nov. 18, 2003 -- iQ Power Technology Inc. (OTC Bulletin Board: IQPR; Frankfurt: IQP) is pleased to announce that its Germany engineering subsidiary, iQ Battery Research & Development GmbH, has received its first purchase order from the German premium car manufacturer BMW Group. The order consists of specialized electronics and software products designed to analyze the electric onboard power supply and energy consumption of motor vehicles. The PowerLizer(R) products developed by iQ are capable of measuring the so-called quiescent current characteristics of vehicles and identifying and analyzing the reasons for any distortion. In conjunction with this order, iQ has now been qualified as a supplier to the BMW Group, including the awarding of a specific supplier's identification number. The delivery agreement is structured in three phases, lasting over a period of 18 to 24 months, and includes the option to increase the delivery to a larger number of products.

   iQ Power Technology Inc.