Battery Technologies Names Northern Securities As Investment Banker.

Business Editors

TORONTO--(BUSINESS WIRE)--Nov. 4, 2002

Battery Technologies Inc. ("BTI" or the "Company") (OTCBB:BTIOF.OB) (TSX:BTI) (BERLIN STOCK EXCHANGE:BTM) today announced that it has engaged Northern Securities Inc. ("Northern") as its financial advisor to assist the Company's management in seeking suitable strategic opportunities for BTI.

Northern Securities Inc. is a full service brokerage firm that provides financial advisory services to retail and institutional clients as well as mergers and acquisition, restructuring and investment banking services to small capitalization companies. With the recently announced acquisition of Georgia Pacific Securities Corporation of Vancouver, B.C., which is subject to regulatory approval, Northern Securities Inc. will become the largest brokerage firm in Canada exclusively focused on small capitalization companies. Northern has offices in Toronto, Calgary and shortly in Vancouver and Kamloops. Northern Securities Inc. is a wholly owned subsidiary of Northern Financial Corporation, a publicly traded firm (TSX "NFC").

Mr. J. Bruce Pope, President and CEO of BTI said, "We are very pleased to have engaged Northern Securities as our Investment Banker. Their size and scope, focused on small cap companies is an excellent fit for our needs and we look forward to a highly successful relationship. BTI is a sophisticated and well-advanced Research and Development company with 43 patents on its unique rechargeable alkaline chemistry ("RAM(TM)). That, combined with three public listings as well as substantial future tax asset opportunities, will ensure that we represent strong synergistic value to prospective strategic allies."

Mr. Pope added "BTI's recent breakthroughs on its advanced Marathon RAM(TM) formulas have resulted in delivery of 50 deep discharge cycles rather than the existing 25 cycles of presently available commercial RAM(TM) product, and at a much increased capacity level in higher cycles, for a 100% increase in energy output. In addition, improved capacity retention has resulted in the rated shelf-life being increased from 5 to 7 years. These enhancements make our technology even more attractive as a low cost alternative to the more expensive Nickel Metal Hydride cells in an increasing number of consumer and OEM applications."

Mr. Vic Alboini, President and CEO of Northern said, "We are pleased to have the opportunity to work with BTI's management and believe that we can add significant value to the process. In addition to being very confident that the strengths of BTI fit well with many market opportunities, the portable energy field is substantial and growing and will afford a broad range of potential strategic partners."

During this process, the company will continue its normal commercial and R & D activities in pursuit of product enhancements for its proprietary RAM(TM) technology and serving both its licensees and private sector contract research clients from its Richmond Hill facility. In addition, operations of Battery Technologies Sweden (BTS) will continue in the marketing, sales and distribution of Toshiba and Demacell(TM) battery and lighting products in Scandinavia.

BTI is the inventor, developer and owner of the unique, patented rechargeable alkaline manganese (RAM(TM)) battery technology on which it holds 43 patents related to chemistry, product design and manufacturing processes. BTI is engaged in the worldwide commercialization of the RAM(TM) technology and other portable energy products through its licensees and the Battery Technologies Sweden (formerly the Dema Group), a wholly owned subsidiary based in Scandinavia engaged in the sales, marketing and distribution of battery and energy related products to European markets.

Except for the historical statements contained herein, the matters discussed in this news release, are forward looking statements that involve risks and uncertainties. Factors that could cause actual results to differ materially include but are not limited to: the Company's ability to achieve its corporate objectives, future capital requirements and the uncertainty of additional funding , sales and marketing risk due to market acceptance of the company's products, technological developments by competitors, dependence on proprietary technology, strategic partnerships and licensees, or any of the other variables referenced in the Company's 20-F filing with the SEC, dated June 27, 2002. Readers are cautioned not to place undue reliance on forward looking statements. RAM, is a registered trademark of Battery Technologies Inc., Richmond Hill, Ontario, Canada. All other brands, product names, company names or trademarks are the property of their respective owners.