Energy Visions Inc. Signs Deal With Lead Investor For Pure Energy Acquisition.

Energy Editors/Business Editors

TORONTO--(BUSINESS WIRE)--Oct. 16, 2003

Energy Visions Inc. ("EVI") (OTCBB:EGYV) (TSX VENTURE:EVI.S) announces today that it has signed a deal with Rabih Holdings Ltd. ("Rabih") to provide Cdn. $1,000,000 in debt financing to Energy Ventures Inc. (Canada) ("EVI Canada") for the purpose of permitting the closing of the previously announced acquisition (November 13, 2002) of ultimately 50.5% of Pure Energy Inc. ("PEI" or "Pure Energy"). The final closing is expected to be completed within a few days, subject to the approval of the TSXV. PEI is a manufacturer and seller of rechargeable alkaline manganese ("RAM(TM)") batteries with the capability of producing over 100 million batteries per year in Amherst, Nova Scotia. PEI has its sales office in Richmond Hill, Ontario.

Under the terms of the commitment, Rabih will provide the loan to EVI Canada for two years, but the loan may be prepaid by EVI Canada at its option. EVI Canada will provide an interest rate of 10% per annum to Rabih, as well as Warrants to purchase 600,000 EVI shares. The Warrants will have a term of 2 years, will be exercisable at a conversion price of Cdn. $0.25 per share, and are subject to TSXV approval. The loan is conditional on the completion of the previously announced restructuring involving Nova Scotia Business Inc. EVI is also seeking a further investment of up to Cdn. $1,500,000 from a syndicate of investors, under similar financial terms as with Rabih.

EVI Canada President Dr. Phil Whiting has been appointed President of Pure Energy. "The ongoing potential for development of Pure Energy, combined with the new EVI products, creates an exciting future. Pure Energy is already showing excellent growth, and is in the process of launching its own new very much improved Pure Energy XL battery, which is expected to accelerate that growth."

EVI Canada has signed a letter of intent to sell its fuel cell related laboratory assets from its Ottawa laboratory. The sales arrangement will provide a total of U.S. $120,000 in cash and marketable securities over the next few months. "With our new office and laboratory location in Toronto, EVI will have access to superior laboratory facilities, so raising funds by selling surplus lab equipment seemed the logical thing to do," said Dr. Phil Whiting, President of EVI Canada.

On August 27, 2003 EVI management received notice from TSXV that EVI was considered not to be in compliance with certain TSXV policies. As a result, EVI was placed on notice to comply with all TSX Venture Exchange Requirements, failing which a review may be commenced and applicable disciplinary actions may be initiated by TSXV against EVI and its management, directors and officers.

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.

The Web site of Energy Visions Inc. is http://www.energyvi.com