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Energy Conversion Devices Announces Agreement With Toshiba

30 November 1999

Energy Conversion Devices Announces Further Agreement With Toshiba Battery Company

    TROY, Mich., Nov. 29 -- Energy Conversion Devices, Inc.
("ECD") today announced that ECD and its subsidiary, Ovonic
Battery Company, Inc. ("OBC"), have expanded their relationship with Toshiba
Battery Company, Ltd. of Japan ("Toshiba Battery") and have entered into a
further agreement with Toshiba Battery under which Toshiba Battery is granted
a nonexclusive license under ECD and OBC patents in the field of cylindrically
wound nickel metal hydride batteries for use in the propulsion of hybrid
electric vehicles.  Hybrid electric vehicles utilize battery power for
electrically driven propulsion together with another type of propulsion power
such as an internal combustion engine or a fuel cell.
    The license includes the right to manufacture the licensed cylindrically
wound nickel metal hydride batteries in Japan and to sell such batteries
worldwide subject to certain exceptions and limitations.  The license also
extends to certain special purpose battery driven vehicles that are designed
to be driven at low speeds including, for example, motorized wheelchairs and
limited area motorized vehicles for use in special areas such as golf courses,
airports, pedestrian zones or other automobile-free zones.
    Under the agreement, Toshiba Battery will make an initial lump sum payment
to OBC followed by further lump sum amounts to be paid upon commencement of
mass production and the attainment of a specified production volume.  Toshiba
Battery will also pay running royalties on sales of the licensed products
covered by the licensed patents.
    ECD is a leader in the synthesis of new materials and the development of
advanced production technology and innovative products.  It has pioneered and
developed enabling technologies leading to new products and production
processes based on amorphous, disordered and related materials, with an
emphasis on alternative energy and advanced information technologies.  ECD's
web site address is http://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, as
of the date of this release, believes to be reasonable and appropriate.  ECD
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.