Astris Energi Introduces Production Grade Alkaline Fuel Cell Stack.

Business Editors & Energy Writers

MISSISSAUGA, Ontario--(BUSINESS WIRE)--March 12, 2002

Astris Energi Inc., (OTCBB:ASRNF) pioneer developers and manufacturers of alkaline fuel cells, today announced a new fuel cell product suitable for powering small vehicles, stationary electric energy sources for industry and a range of other applications.

Known as the POWERSTACK(TM) MC250, the system will be commercially available, both here and abroad, later this year according to Jiri K. Nor, president. The new power source is based on the company's successful and proven LABCELL(TM) monopolar product line which Astris has been supplying for several years, and will be available in stacks rated up to 2.5 kilowatts each.

"This new fuel cell series should be of special interest to the group of system integrators in Europe and elsewhere who had planned to use alkaline cells of similar power being developed by a British company which declared bankruptcy last October," Nor said.

He added that eight companies have since approached Astris as a source of supply and contract negotiations are near completion with one of them, while discussions are under way with the remainder.

Astris had previously announced that it is developing its advanced POWERSTACK(TM) BC500, which will be more than twice as powerful as the MC250. That project will continue, Nor said, but production of the MC250 system will take immediate precedence.

Much of the company's development and manufacturing activities takes place at the facilities of Astris, s.r.o., the company's affiliate in Benesov, The Czech Republic.

That operation also developed Astris' one-kilowatt portable fuel cell for remote applications, a two-kilowatt unit for small vehicles and its four-kilowatt system which can provide electricity, heat and hot water for homes, boats or small businesses.

Note: Any statements contained in this release that are not statements of fact may be considered "foward-looking statements" as that term is defined in U.S. federal security laws. Forward-looking statements are only predictions and may differ materially from actual events or results.