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Fuel Cell Developer Astris Energi Completes Move to Mississauga

25 May 2000

Fuel Cell Developer Astris Energi Completes Move to Mississauga

    MISSISSAUGA, Ontario, Canada--May 25, 2000--Astris Energi Inc. (ASRF)(OTCBB: ASRF), developers of fuel cell power systems for small vehicles and homes, Thursday announced that the move of its headquarters from Oakville, Ontario to larger quarters here is complete and expansion of its engineering staff will now begin.
    Jiri K. Nor, president, said beside handling all management functions, the new facility will be engaged in assembly and test of complete fuel cell systems, while the company's subsidiary in the Czech Republic will continue development and manufacture of all major system components.
    Astris expects to demonstrate a fuel cell-driven golf cart by early next year and to apply the system to other small vehicles next year and beyond, according to Nor. These may include airport ramp vehicles, in-plant delivery carts, retirement community vehicles and others.
    The Czech facility just last month delivered its first four-kilowatt home fuel cell system to a university there for evaluation and has an order from the Czech military. The same noiseless, pollution-free system could provide light, heat, and hot water for motor homes and yachts.
    The company has now been cleared to apply for listing of its common stock on the Canadian Dealing Network Inc., which action will be taken immediately, Nor said. An application is also being readied for listing on the Nasdaq Bulletin Board in the United States.

    Note: Any statements contained in this release that are not statements of fact may be considered "forward-looking statements," as that term is defined under Federal security laws.
    Forward-looking statements are subject to risks, uncertainties and other factors, including, but not limited to, those described in Astris Energi's filings with the Securities and Exchange Commission. Such forward-looking statements are only predictions and may differ materially from actual future events or results.