Power Technology Announces the Appointment of Dr. Ulf Lindqwister

8 May 2000

Power Technology Inc. Announces the Appointment of Dr. Ulf Lindqwister as Vice President of Business Development

    LAS VEGAS--May 8, 2000--Power Technology Inc. (OTCBB:PWTC.OB) announced today the appointment of Dr. Ulf Lindqwister as the Company's vice president of business development.
    Dr. Lindqwister has considerable corporate and management experience, including serving as president, CTO, and director of publicly traded companies. Dr. Lindqwister has been a consultant for Arthur Andersen, LLP, on high technology corporate valuations. Prior to this, he was a developer and manager of NASA's global GPS network for 12 years.
    This network currently has 200+ GPS stations all over the world, operates around the clock, and supports numerous navigation requirements for science, commercial, and defense customers. Dr. Lindqwister obtained an MBA in Finance and E-commerce from the Anderson School of Business at UCLA and a Ph.D. in Physics from Princeton University.
    Dr. Lindqwister will focus his efforts on marketing and licensing the various patents currently owned by Power Technology to larger industrial partners for each of the Company's product lines.
    "The genius of Alvin Snaper and his team of industrial scientists represents a great incubator laboratory for new power generation and power storage technologies that should see significant commercial success once marketed properly," said Dr. Lindqwister. "Our vision is to enter into alliance and joint venture agreements with tier-1 and tier-2 battery manufacturers, such that an OEM prototype of the new battery structure developed by Snaper's team can be developed as quickly as possible. Similar plans are under development for the battery-less alloy moisture sensor technology and the cold welding patent for large pipelines. A number of major industrial companies have already been approached for all products and meetings are currently underway."
    "We are extremely pleased to have a person with Dr. Lindqwister's qualifications join the Power Technology management team," stated company President Lee Balak. "We believe that his involvement will help us further advance our goals towards developing and licensing our existing patents. Moreover, Dr. Lindqwister's technical and organizational management experience and skills will be instrumental in boosting our company to the next level."
    Power Technology, which recently obtained a $35 million credit line, now has the financial resources and the management team required to fast-track the development of the revolutionary battery technology invented by Alvin Snaper and launch an aggressive marketing campaign to attract alliance partners to license all of its patents.
    Once a royalty cash flow stream has been achieved from the Company's existing patents, funds will be freed up to develop and patent additional power-related technologies that Snaper's laboratory is currently investigating.
    Certain statements in this news release may constitute "forward looking" statements within the meaning of section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks, uncertainties, and other factors, which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ.