Brethren Venture Corporation Fails To Provide Cdn. $2,000,000 Loan To Energy Visions Inc.

Energy Editors/Business Editors

TORONTO--(BUSINESS WIRE)--Aug. 26, 2003

Energy Visions Inc. ("EVI") (NASD: OTCBB: "EGYV" and TSXV: "EVI.S") announces today that Brethren Venture Corporation ("Brethren") of Mississauga, Ontario, has failed to provide the Cdn. $2,000,000 Loan referred to in its Letter of Commitment announced on June 11, 2003.

Under the terms of such Letter of Commitment, Brethren stated that it was prepared to provide a Cdn. $2.0 Million loan to permit EVI to acquire shares of Pure Energy Inc. ("PEI") and to provide working capital for both PEI and EVI, subject to certain conditions.

Brethren has advised EVI that it is experiencing financial difficulties, has not participated in the preparation of the documents necessary to complete the transaction, and has not responded to repeated EVI enquiries as to the status of the financing, including one final request to confirm by 4:00 p.m. August 25, 2003 that Cdn. $2,000,000 has been deposited in trust with legal counsel pending completion of the transaction within 10 business days.

EVI is still intent upon trying to complete the PEI acquisition transaction but completion is contingent upon EVI's successfully raising the necessary funds. EVI's management will actively seek new funding to replace the Brethren financing.

EVI CEO Wayne Hartford said, "The proposed Brethren financing was primarily intended to allow the acquisition of a majority interest in Pure Energy Inc. I thank all at PEI, Rabih Holdings Ltd. and Nova Scotia Business Inc. for their ceaseless efforts to make the PEI acquisition deal a reality."

In June 2003, Hibar Systems Limited ("Hibar"), the present principal shareholder of PEI acquired the laboratory assets of Battery Technologies Inc. ("BTI") in bankruptcy at a price of Cdn. $135,000. Hibar has verbally indicated that it will permit EVI to occupy space in its premises previously occupied by BTI at a rental of approximately Cdn. $5,000 per month, such sum to include the use of the above laboratory assets. Both EVI and Hibar anticipate that once the PEI acquisition transaction closes, EVI will be granted the right to acquire such BTI laboratory assets in the future, at Hibar's cost, and with detail terms to be negotiated.

At EVI's shareholders meeting held on July 15, 2003, Messrs Ronald K. Braun and Mr. Anthony H. Mehta were elected new members of the Company's Board of Directors.

Energy Visions Inc. is a developer of advanced battery and fuel cell technologies.

Statements in this release, other than statements of historical fact, may be regarded, in certain instances, as "forward looking statements" pursuant to Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934, respectively. "Forward looking statements" are based on expectations, estimates and projections at the time the statements are made that involve risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. There can be no assurance that such statements will ever prove to be accurate and readers should not place undue reliance on any such "forward looking statements" contained herein.

Neither The TSXV nor NASD OTC Bulletin Board have reviewed or accept responsibility for the adequacy or accuracy of this release.