Arbitration Hearings Completed in Patent Infringement Claims By Energy Conversion Devices against Matsushita Battery

Arbitral Tribunal Decision Expected by May 20, 200404

ROCHESTER HILLS, Mich., Jan. 27 -- Energy Conversion Devices, Inc. (ECD Ovonics) announced today that the previously announced arbitration hearings dealing with claims of patent infringement against Matsushita Battery Industrial Co., Ltd., Toyota Motor Corporation and related companies concluded on January 21, 2004 in New York City. The parties' arbitration agreement calls for a ruling by the arbitration panel within two months. Because of administrative handling of the ruling through the International Chamber of Commerce, International Court of Arbitration, in Paris, France, the decision is not expected to be released until May 2004.

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.