Millennium Cell Joins University of South Carolina Fuel Cell Center.

EATONTOWN, N.J. -- Millennium Cell Inc. (NASDAQ:MCEL), a leading developer of hydrogen battery technology, announced that it has joined the University of South Carolina's NSF Industry/University Cooperative Research Center for Fuel Cells.

This is the nation's only National Science Foundation-sponsored fuel cell center and is dedicated to the commercialization of fuel cell technologies. As a member of the center, Millennium Cell will partner with USC faculty and students to advance research in hydrogen storage materials, boron chemistry, and hydrogen battery systems.

"Millennium Cell is pleased to join the USC Fuel Cell Research Center and work with this well-known group of companies that are partnering with USC researchers to develop innovative solutions for the advancement of commercial applications and deployment of hydrogen storage technologies," commented David Ramm, Millennium Cell CEO.

"Millennium Cell's decision to join our Center is another important step in our efforts to create a future fuels research hub in Columbia, South Carolina," said Professor John VanZee, Center Director.

Millennium is the latest high profile company to join the Center that includes: DANA Corporation, General Motors Corporation, Air Liquide, John Deere, ePower Technologies, Westinghouse Savannah River Co., BASF AG, Boeing and LG Electronics.

About Millennium Cell

Millennium Cell develops hydrogen battery technology through a patented chemical process that safely stores and delivers hydrogen energy to power portable devices. The borohydride-based technology can be scaled to fit any application requiring high energy density for a long run time in a compact space. The Company is working with market partners to meet demand for its patented process in four areas: military, medical, industrial and consumer electronics. For more information, visit http://millenniumcell.com.

Cautionary Note Regarding Forward-looking Statements:

This press release may include statements that are not historical facts and are considered ``forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Millennium Cell's current views about future events and financial performance and are subject to risks. Forward-looking statements are identified by their use of terms and phrases such as "believe," "expect," "plan," "anticipate," "on target" and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from Millennium Cell's expectations, and Millennium Cell expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to, the following: (i) the cost and timing of development and market acceptance of Millennium Cell's hydrogen fuel storage and delivery system; (ii) the cost and commercial availability of the quantities of raw materials required by the hydrogen fuel storage and delivery systems; (iii) competition from current, improving and alternative power technologies; (iv) Millennium Cell's ability to raise capital at the times, in the amounts and at the costs and terms that are acceptable to fund the development and commercialization of its hydrogen fuel storage and delivery system and its business plan; (v) Millennium Cell's ability to protect its intellectual property; (vi) Millennium Cell's ability to achieve budgeted revenue and expense amounts; (vii) Millennium Cell's ability to generate revenues from the sale or license of, or provision of services related to, its technology; (viii) Millennium Cell's ability to form strategic alliances or partnerships to help promote our technology and achieve market acceptance; (ix) Millennium Cell's ability to generate design, engineering or management services revenue opportunities in the hydrogen generation or fuel cell markets; (x) Millennium Cell's ability to secure government funding of its research and development and technology demonstration projects; and (xi) other factors discussed under the caption "Investment Considerations" in Millennium Cell's Annual Report on Form 10-K for the year ended December 31, 2005.