Hydrogen Power, Inc. Plans and Objectives for 2006 and Development of AlumiFuel Hydrogen Power Prototype

ENGLEWOOD, Colo. & WEST PALM BEACH, Fla.--March 30, 2006--Equitex, Inc. wholly-owned subsidiary Hydrogen Power, Inc. ("HPI") announced today four key objectives for its business plan in 2006:

-- The development of lightweight, compact hydrogen generators for integration with low-wattage fuel cells at energy densities and economics superior to current battery technology.

-- The development of portable hydrogen generators to power mobile back-up generators, either fuel cells or internal combustion engines.

-- The development of on-board hydrogen generators as a back-up fuel source for hydrogen powered vehicles.

-- The development of large-volume stationary hydrogen generators to produce hydrogen at high pressures for hydrogen vehicle fueling stations without the need for on-site storage and compression.

HPI's long-term goal is to provide the following commercial applications of its technology:

-- On-board hydrogen generation for internal combustion engines in automobiles, boats, scooters and motorized pedi-cabs.

-- Portable emergency power generation, recreational vehicles, marine and light military applications.

-- Disposable/recyclable power cells for personal electronics -- laptop computers, PDAs and cellular telephones.

-- Fixed generators for light commercial and industrial use including refueling stations for hydrogen-powered automobiles.

Based on HPI's patented Hydrogen Now(TM) hydrogen generation technology, the company has completed development of a first generation "AlumiFuel(TM)" hydrogen power product. AlumiFuel is a versatile feed fuel designed for use in generators producing high-purity hydrogen (free from CO, CO2 or Sulfur impurities). The AlumiFuel hydrogen generator is integrated with small lightweight fuel cells as an alternative to portable batteries and makes possible a new commercial hydrogen battery that is lighter, runs longer and provides more energy density than traditional batteries. AlumiFuel cartridges are designed to be long running and easily replaced in order to ensure an uninterrupted supply of power.

The size and power of an AlumiFuel device can be varied to meet specified requirements and can be configured in conformance with current battery sizes. AlumiFuel and water produce a benign by-product (aluminum hydroxide) which is recyclable (or safely disposable) without the problems currently associated with battery disposal.

"AlumiFuel has the potential to be the 'fuel of choice' in meeting the dramatic increase in demand for portable power for mobile electronic equipment," stated HPI Chief Executive Officer, Ricky Gujral. "Development of this prototype has demonstrated the feasibility of AlumiFuel as a viable hydrogen generation source. While we have further work to accomplish in order to make AlumiFuel commercially available, we are ahead of schedule based on our 2006 business plan and are excited about the potential for AlumiFuel in a broad range of hydrogen power producing applications."

Equitex, Inc. is a holding company now operating through its wholly-owned subsidiary Hydrogen Power, Inc. of Seattle, Washington, (www.hydrogenpowerinc.com) and its majority-owned publicly-traded subsidiary FastFunds Financial Corporation (OTCBB:FFFC) of Minnetonka, Minnesota. Hydrogen Power has licensed and is developing a patented technology created at the University of British Columbia for producing hydrogen gas in a process called Hydrogen Now(TM). FastFunds Financial recently sold a majority of its operating assets and currently has limited business operations.