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Advanced Power Solutions, Inc. and Front Edge Technology Enter Into Joint Venture to Develop Unprecedented Energy Source.

Business Editors, High Tech Writers

PALM BEACH, Fla.--(BUSINESS WIRE)--Nov. 12, 2001

Applied Digital Solutions, Inc. (Nasdaq: ADSX) today announced that its wholly owned subsidiary, Advanced Power Solutions, Inc. (APSI), has entered into a joint-venture agreement with Front Edge Technology (FET).

Under the terms of the agreement, APSI and FET will jointly develop a first of its kind energy/battery source that combines APSI's proprietary thermo-electric generator, Thermo Life, with FET's proprietary thin-film battery technology, NanoEnergy(TM). NanoEnergy(TM) is the first thinner-than-paper and flexible rechargeable battery. Ultimately, it is anticipated that the two technologies will work in tandem to create, store and supply body-generated, thermo-electric energy. This power source may be used in a variety of medical devices, smart cards, and consumer devices including wristwatches.

Located in Baldwin Park, California, First Edge Technology was founded in 1994 by management with a combined 70 years of thin film technology experience. FET has been responsible for a number of "world's first" power cells. FET was granted an $820,000 SBIR award from the U.S. Department of Energy for developing advanced thin film materials and processes.

Dr. Peter Zhou, Chief Scientist of Applied Digital Solutions, explained the technology solution presented through this joint venture: "One can view Thermo Life's body-heat thermo-electric generator as creating a 'river' of electricity, whose flow is contingent upon body heat. FET's NanoEnergy(TM) can be viewed as a 'reservoir' capable of storing energy that flows to it and releasing that energy in a specific capacity over an extended period. This combination of 'river' and 'reservoir' will create a tiny, reliable, and self-generating power source that does not require constant contact with the body and is void of toxic or hazardous materials."

Richard J. Sullivan, Chairman and CEO of Applied Digital Solutions, stated: "Through this joint venture, Thermo Life technology is well positioned to further our position as a premier advanced digital technology development company. The collaboration of R&D, marketing and licensing efforts will further widen the estimated $30 billion marketplace for Thermo Life. As the technology becomes commercially viable, we anticipate following the path set out by our business model to bring APSI to the public markets, further enhancing shareholder value in both indirect and direct participation in its success."

About Advanced Power Solutions Inc.

In November of 2001, Applied Digital Solutions created a wholly owned subsidiary called Advanced Power Solutions, Inc. (APSI). This new unit will further develop, market and license Thermo Life(TM), a proprietary, thermoelectric generator powered by body heat. Thermo Life is intended to provide a miniaturized power source for a wide range of consumer electronic devices, including attachable or implantable medical devices, wristwatches and other consumer devices. The Company estimates that the potential marketplace for Thermo Life exceeds $30 billion.

About Applied Digital Solutions, Inc.

Applied Digital Solutions is an advanced digital technology development company that focuses on a range of early warning alert, miniaturized power sources and security monitoring systems combined with the comprehensive data management services required to support them. Through its Advanced Wireless unit, the Company specializes in security-related data collection, value-added data intelligence and complex data delivery systems for a wide variety of end users including commercial operations, government agencies and consumers. For more information, visit the company's website at http://www.adsx.com.

Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. The Company intends that such forward-looking statements involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.
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Publication:Business Wire
Geographic Code:1USA
Date:Nov 12, 2001
Words:656
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