Energy Visions Inc. Revises Option Agreement and is on Track With Acquisition of Control of Pure Energy Inc.

Business Editors

TORONTO--(BUSINESS WIRE)--Sept. 10, 2002

Energy Visions Inc. ("EVI" or "Company") (OTC Bulletin Board:EGYV)(TSX VENTURE:EVI.S) announced today that it has signed amended agreements dated August 11, 2002 and September 4, 2002 (the "Amended Agreements") with Pure Energy Inc. ('PEI"), Pure Energy Battery Inc. ("PEBI"), a wholly-owned subsidiary of PEI, and Rabih Holdings Ltd., that amends the original agreement (the "Agreement") entered into amongst the parties on April 11, 2002 (as previously announced on April 16, 2002).

The Agreement gives EVI the right to purchase such number of additional PEI common shares (the "Additional PEI Shares") that, together with those PEI common shares held by Wayne Hartford, Chief Executive Officer of EVI, and those PEI common shares EVI may acquire from Nova Scotia Business Inc. ("NSBI"), will result in the ownership by EVI and Mr. Hartford of an aggregate of 51% of the issued and outstanding PEI common shares. NSBI is a major creditor of PEBI that has conditionally agreed to convert a portion of the debt owed by PEBI to NSBI into EVI common shares (as previously announced on June 27, 2002).

The Amended Agreements extend EVI's option to acquire the Additional PEI Shares (the "Option") to September 30, 2002 (the "Option Expiration Date"). EVI may exercise the Option by paying PEI a non-refundable deposit of Cdn $200,000 (the "Deposit") no later than the Option Expiration Date.

The purchase price of each Additional PEI Share is approximately Cdn $0.14 and EVI may purchase the Additional PEI Shares by a combination of cash and EVI common shares. EVI has the right to pay not more than 25% of the purchase price of the Additional PEI Shares by the issuance of EVI common shares valued at a weighted average market price of EVI common shares during the 20 business days prior to the date of the exercise of the Option with the balance payable in cash (the "Cash Portion"). Such issuance of EVI common shares is subject to the approval of the TSX Venture Exchange Inc. ("TSX Venture"). EVI will have until November 30, 2002 to complete the payment of the remainder of the Cash Portion. If EVI does not purchase the Additional PEI Shares by November 30, 2002, PEI will be entitled to retain the Deposit.

The Amended Agreements also set out the attributes of the 1,000,000 Class A preference shares of PEI (the "PEI Special Shares") that EVI has agreed to purchase from PEI at a price of Cdn $1,000,000, to be paid by the issuance of 1,000,000 EVI common shares at a price of Cdn $1.00 per share (as previously announced on April 16, 2002) and whose issuance is subject to the approval of TSX Venture. The PEI Special Shares are non-voting convertible shares that can be converted into common shares of PEI based upon a conversion ratio as described in the Amended Agreements.

The Amended Agreements also contemplate that in the event that EVI does not exercise the Option on or before the Option Expiration Date, PEI has the subsequent right to repurchase all of the PEI Special Shares, subsequent to their issuance, at a price of Cdn $1.00 per share and such purchase price will be satisfied by the delivery of a promissory note by PEI (the "PEI Notes") to EVI equal to the amount of the purchase price. Similarly, upon the issuance of the PEI Special Shares, EVI has the right to exchange any or all of the PEI Special Shares into PEI Notes at a price of Cdn $1.00 per share.

The PEI Notes are a non-assignable, interest-free, unsecured obligation of PEI that will be solely satisfied through the delivery of products manufactured and services performed by PEBI (the "PEBI Products" and "PEBI Services") in the normal course of its business and which support EVI's hybrid cell products. EVI also has the limited right to substitute other products supplied by PEBI in place of PEBI Products manufactured by PEBI. The Agreement provides that EVI will purchase from PEBI its Nickel Zinc battery requirements from PEBI for a 3 year period provided the PEBI price is competitive.

Both EVI and PEI are currently involved in due diligence involving financing options to provide EVI with the necessary funds to exercise the Option and complete the acquisition of the Additional PEI Shares, provide working capital for both companies and permit the purchase of equipment needed to allow PEBI's manufacturing facility located at Amherst, Nova Scotia to manufacture EVI's proprietary Nickel Zinc batteries along with their current "Pure Energy" Batteries.

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 1933 Act 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. The ability of EVI to exercise the Option and complete the purchase of the Additional PEI Shares involves a number of risks and uncertainties and there is no assurance that such transactions will occur.

Neither The TSX Venture Exchange nor NASD OTC Bulletin Board have reviewed or accept responsibility for the adequacy or accuracy of this release. For further information please contact Mr. Wayne Hartford at [phone]. The Company's website is at http://www.energyvi.com/.