Astris Energi Names New Vice-President, Finance.

Business Editors

MISSISSAUGA, Ontario, Canada--(BUSINESS WIRE)--July 26, 2002

Jiri K. Nor, president and chief executive officer of Astris Energi Inc. (OTCBB: ASRNF), pioneer developers of alkaline fuel cell electric energy systems, Friday announced the appointment of Anthony Durkacz as vice-president, finance, with a primary responsibility for the acquisition of capital to support the company's prospective growth both here and abroad.

Durkacz joins Astris from TD Securities where for the past three years he has been a manager of foreign exchange on the capital market trading floor. TD Securities was recently named No. 1 in Canadian dollar foreign exchange sales in Canada according to the Journal of Foreign Exchange and Money Markets and is the second largest securities dealer by asset size in the country.

Durkacz also served previously as president of Fortius Research & Trading, an investment company servicing high net worth clients.

"Anthony will strengthen our team in this stage of commercialization and growth. We had been looking for a high caliber, motivated individual for some time," said Nor. "His experience and track record in sales and finance are important assets to Astris."

"I am extremely excited to be joining Astris Energi, leaders in the alkaline fuel cell industry," said Durkacz. "Astris' proprietary low cost fuel cell has enormous potential in the portable power market."

A graduate of Brock University, Durkacz earned honours Bachelor of Business Administration with a major in accounting and finance. He resides in Toronto.

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 U.S. Federal security laws. Forward-looking statements are only predictions and may differ materially from actual events or results.