Ener1 Chairman to Address Equities Magazine Investment Conference in New York; Will Focus on Advances Made with EnerDel's Battery for Hybrid Vehicles

FORT LAUDERDALE, Fla.--June 15, 2006--Charles Gassenheimer, Chairman of alternate energy company Ener1 Inc., (OTC/BB:ENEI), will address the Equities Magazine Investment Conference in New York on Friday, June 16. Some 300 investors, institutions and financial advisors are expected to gather at the Yale Club in New York City to hear presentations made by senior management of a select group of promising technology companies.

The opportunity to talk to this large gathering of investors comes at a particularly eventful time for Ener1 and its EnerDel battery subsidiary in which Delphi Corporation has a minority interest. Just last week EnerDel was awarded a valuable phase one contract by the U.S. Advanced Battery Corporation that will accelerate development of the Company's new lithium-ion (li-ion) battery to power hybrid vehicles. The battery is designed to be lighter, smaller and packs more power than the nickel metal hydride variety currently used in most hybrids. The new battery will be manufactured at EnerDel's Indianapolis facility to improve the supply of batteries to U.S. based automotive car manufacturers.

Charles Gassenheimer will be joined by Ulrik Grape, CEO of EnerDel, who will tell the assembled investors that EnerDel has achieved outstanding power performance with smaller batteries and that the new battery incorporates significant benefits and technological breakthroughs all of which will favorably impact the growing hybrid market in the U.S. Given the award of the USABC contract and the improvements they have been able to incorporate into the battery, the Company believes that it is making good progress and the management is confident that they will meet the power requirements for current and future hybrid vehicles and open the way to lower production costs.

Equities Magazine, which has been published for more than 50 years and covers small to mid cap companies, is widely read throughout the U.S. by individual and institutional investors, fund managers and financial advisors. It is soon to launch a European edition out of London.

A live webcast of Ener1's presentation will be available as of 8:00 a.m. EST on Friday, June 16. It can be accessed by visiting the Equities Magazine website www.equitiesmagazine.com. Visitors need to follow the on screen instructions. Thereafter, the webcast will be archived for 90 days.

Meanwhile, a corporate profile of Ener1, covering two pages, will be published in the June edition of the magazine and will also appear in the new European edition providing more exposure for Ener1, EnerDel and the new Li-ion battery among investors in the U.K. and European financial markets.

Safe Harbor Statement

This update contains forward-looking statements within the meaning of the Federal Private Securities Litigation Reform Act of 1995 conveying management expectations as to the future based on plans, estimates and projections at the time the statements are made. The forward-looking statements contained in this press release involve risks and uncertainties, including, but not necessarily limited to EnerDel's ability to succeed as a supplier of batteries to the hybrid electric vehicle and other markets and Ener1's ability to successfully develop and market proposed lithium battery products, the degree of competition in the markets for lithium batteries, Ener1's history of operating losses, the lack of operating history for EnerDel, the need for additional capital, the dependency upon key personnel and other risks detailed in Ener1's filings from time to time with the Securities and Exchange Commission. These risks and uncertainities could cause actual results or performance to differ materially from any future results or performance expressed or implied in the forward-looking statements included in this release. Ener1 undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

For more information about Ener1 Group and EnerDel, please visit our websites at www.enerdel.com or www.ener1.com.

Investors interested in attending the conference should contact Victor Webb at the telephone number below.