iQ Power Signs Agreement With Israel's Largest Battery Manufacturer

30 August 2000

iQ Power Signs Agreement With Israel's Largest Battery Manufacturer

    VANCOUVER, B.C.--Aug. 30, 2000--(OTCBB:IQPR)

    Vancouver, B.C.; Munich, Germany; Netania, Israel

    Israeli Battery Producer, Schnapp and Co., Will be the First to
    Manufacturer iQ Power's "SMART" Chip Controlled Batteries for
    the Automotive Market

    iQ Power Technology Inc. (OTCBB:IQPR) has entered into an agreement with Schnapp and Co. to produce the world's first car battery to be controlled by a microchip and software, the iQ BATTERY. Schnapp will become the first manufacturer to mass-produce the new chip controlled battery.
    By incorporating the iQ technology into their products, Schnapp is planning to increase its exports to Europe. "We are a highly flexible company and see a clear market advantage with this new technology" says Uri Rosenshein, managing director of Schnapp. With seven years experience in the European market, the company sees the opportunity to increase its market share with iQ. Among the largest clients of Schnapp are the Israeli Army, car importers and international telecommunications companies such as Orange.

On behalf of the board of directors of iQ Power Technology Inc.,

"Peter E. Braun" PETER BRAUN, President

    iQ Power is engaged in the development and commercialization of advanced NEXT GENERATION BATTERY TECHNOLOGY that incorporates internal micro-electronics to monitor and control the environment and operation of the battery as part of an integrated automotive electronic system. This technology, developed by iQ's German subsidiary, iQ Battery Research & Development GmbH, is a self-monitoring SMART battery that is lighter, smaller, more powerful and longer lasting, that recharges up to six times faster and is less susceptible to adverse (severe hot/cold) weather conditions. The iQ technology supports next-generation 42-volt on-board networks in tomorrow's cars and creates new opportunities for alternative drives such as hybrid or zero-emission vehicles (ZEV).