Ener1 Presents Advances in Battery Technology At The 201st Meeting of the Electrochemical Society; Patent Pending Technology Can Extend Life, Reduce Size of Batteries.

Business Editors/High-Tech Writers

BOCA RATON, Fla. & PHILADELPHIA--(BUSINESS WIRE)--June 11, 2002

Ener1, Inc. (OTCBB:INPM) recently conducted a series of presentations highlighting how the company's new patent-pending lithium-metal technology can significantly extend the life and reduce the size of rechargeable batteries for commercial or military applications.

At the 201st Meeting of The Electrochemical Society in Philadelphia, Dr. Elena Shembel, director of research and development for Ener1's Energy Division, presented papers and lectured on breakthroughs in the company's R&D efforts and intellectual property portfolio.

The three technical presentations were entitled:

-- Electrochemical Property of Lithium/Solid Electrolyte Interface;

-- New Solid Inorganic and Polymer Electrolytes: Non-contact Methods of
Investigation of their conductivity; and

-- Kinetics of the Relaxation Redox Processes of Nano-FeS2 in Polymer
Electrolytes.

The presentations highlighted Ener1's discovery of a unique inorganic solid-phase electrolyte with a high conductivity in lithium ions at room temperature.

Dr. Shembel also described how Ener1 has developed a new method and equipment to produce the thin layers of inorganic, highly conducting electrolyte and electrode materials. Ener1 has already successfully produced samples of completely solid-phase, thin-layer, highly efficient lithium metal secondary batteries using the company-developed materials, technology and equipment.

Dr. Shembel also discussed the development and use of the new non-contact, non-destructive control methods for the raw materials used in lithium batteries, the manufacturing process for lithium batteries, and control of the manufactured batteries. Ener1 is seeking patents for the new non-contact, non-destructive control methods and devices.

"Ener1 has developed a wide range of electrochemical systems and solutions for use in high-energy lithium-metal secondary batteries," said Dr. Peter Novak, Ener1's chief technology officer. "The company's new lithium-metal secondary battery features a cathode based on highly efficient (600 Ah/kg), non-toxic and low-cost iron-disulfide. For the first time, this will enable batteries to be built based on iron disulfide cycled at room temperatures. Dr. Shembel's presentations demonstrate Ener1 uniqueness and the high efficiency of the developed lithium-metal."

About Ener1, Inc.

Ener1, Inc. (OTCBB:INPM), based in Boca Raton, Florida, is the new trade name for Inprimis, Inc. The company leverages its expanding portfolio of patent-pending technologies and advanced digital media technology to develop, manufacture and distribute products and services for a variety of commercial and government markets.

Ener1 announced last month that it agreed in principle to acquire Ener1 Battery from its parent company, Ener1 Group, Inc. (formerly Ener1 Holdings, Inc.). Consummation of the transaction is subject to required shareholder and regulatory approvals, due diligence, negotiation and execution of definitive agreements and other conditions. In connection with the transactions, Ener1 Holdings plans to provide the company with funding of $4.7 million for the development of its battery related business.

Once the Ener1 Battery acquisition is completed, Ener1's Energy Division will have a team of scientists and engineers including more than a dozen PhD's, possessing research and development skills in electrochemistry, materials science, physics, as well as in manufacturing. Ener1's new battery production facility, featuring more than $23 million in equipment, is scheduled to go into operation by July.

For more information, visit the company's Web site at or call 561-997-6227.

Safe Harbor Statement

This release contains forward-looking statements within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties, including, but not necessarily limited to, the change in control of Ener1 and dilution to existing shareholders of Ener1 caused by the transactions with Ener1 Holdings, Inc., the history of operating losses incurred by Ener1 and its need for additional capital, the lack of any operating history for the development stage Ener1 battery business, the need for additional capital for the Ener1 battery business, the inability to complete the acquisition of the Ener1 battery business, the ability to enter into and receive revenue from new contracts, the rate of development of the information appliance market, the successful development and market acceptance of new products and services, the degree of competition in the market for such products and services, competitive pricing practices, dependencies upon key personnel, and low barriers of entry into the software development and services markets. Further, a significant portion of the company's sales is derived from a limited number of customers, the loss of one or more of which could adversely impact operating results. Some of these and other risks are detailed in the company's annual report on Form 10-K for the year ended December 31, 2001, as well as in the company's other filings with the Securities and Exchange Commission. Such risks and uncertainties could cause actual results or performance to differ materially from any future results or performance expressed or implied in the forward-looking statements included in this release.