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Evercel, Inc. Announces Filing of Registration Statement

8 January 2001

Evercel, Inc. Announces Filing of Registration Statement

    DANBURY, Conn., Jan. 8 Evercel, Inc.
announced today that it filed a registration statement with the Securities and
Exchange Commission for a proposed underwritten public offering of 3,000,000
shares of common stock.
    Proceeds from the offering will be used to equip the second automated
production line in Newport News, Virginia, for research and development and
for working capital and general corporate purposes. The managing underwriters
of the offering are Morgan Keegan & Company, Inc. and Burnham Securities Inc.
    These securities may not be sold nor may offers to buy be accepted prior
to the time a registration statement is declared effective by the Securities
and Exchange Commission.  This press release shall not constitute an offer to
sell or a solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful under the securities laws of any such
state or jurisdiction.

    Evercel, Inc., (http://www.evercel.com) is a manufacturer of
high-performance, environmentally friendly and cost-effective nickel-zinc
rechargeable batteries for a wide range of applications, including scooters,
trolling motors for boats, electric bicycles, electric vehicles, lawn mowers
electric wheelchairs and golf carts.  The Company, based in Danbury,
Connecticut, operates manufacturing facilities in Newport News, Virginia, and
in Xiamen, China.  In China, the Company operates as Xiamen Three Circles-ERC
Battery Corp., Ltd., a joint venture.