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Beacon Power Selected to Russell 2000(R) and Russell 3000(R) Indices.

WILMINGTON, Mass., July 10 /PRNewswire/ --

Beacon Power Corporation (Nasdaq: BCON), an energy technology company that provides solutions for high- reliability powering applications through innovative flywheel technology, today announced that it has been added to both the Russell 2000(R) Index and the broader Russell 3000(R) Index.

"We are very pleased to be named to the Russell 2000 and Russell 3000 indices," said Beacon President and Chief Executive Officer William E. Stanton. "Inclusion in these indices will give Beacon the opportunity to increase its level of visibility with investor audiences. We are in the process of leveraging our technological leadership in flywheel energy storage systems with products for the $4 billion communications power reliability market. We look forward to communicating Beacon's exciting progress and market opportunities."

The Russell 3000 Index measures the performance of the 3,000 largest public companies in the United States, based on total market capitalization as of May 31. The Russell 2000 Index consists of the 2,000 smallest public companies on the Russell 3000 Index. Both indices are used to create stock portfolios by many passively managed mutual funds. Russell indexes are rebalanced annually using objective criteria, primarily market capitalization, and do not reflect any subjective opinions or committee decisions. More than US$177 billion is currently invested in index funds that use Russell's U.S. stock indexes as their model.

About Frank Russell Company

Frank Russell Company, a global investment services firm, provides manager-of-manager investment products and services in more than 35 countries. Russell manages $66 billion in assets and advises clients representing more than US$1 trillion worldwide. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. The company ranks 13th on Fortune magazine's top 100 best companies to work for in the United States. Frank Russell Company, a Washington, USA corporation, operates through subsidiaries worldwide. The company's indexes are unmanaged and cannot be invested in directly. Past performance is not indicative of future results.

About Beacon Power Corporation

Beacon Power Corporation designs, manufactures, and markets advanced flywheel technology products that provide reliable electric power required by the information economy. Beacon Power Corporation is the only company to have developed a flywheel made from proprietary composite materials that can store and deliver the energy needed for long-duration backup of remote communications sites. Beacon Power Corporation is initially targeting this $4 billion communications segment of the $12 billion power quality and reliability market with products that offer significant advantages over environmentally hazardous lead-acid battery back-up power systems, including higher reliability, longer life, reduced maintenance, quicker recharging, remote monitoring and environmental friendliness.

For more information, please contact Tom Nealon, Director of Investor Relations at Beacon Power Corporation, 978.694.9121; fax 978.694.9127; email; or write to 234 Ballardvale Street, Wilmington, MA 01887. Visit Beacon Power on the Internet at

Safe Harbor Statements under the Private Securities Litigation Reform Act of 1995:

Material contained in this press release may include statements, which 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 Beacon Power Corporation's current views about future events and financial performances. These forward-looking statements are identified by the use of terms and phrases such as "believe," "expect," "plan," "anticipate," 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 that could cause actual results to differ materially from Beacon Power Corporation's expectations, and Beacon Power Corporation expressly does not undertake any duty to update forward-looking statements. These factors include Beacon Power Corporation's short operating history, its history of losses and anticipated continued losses from operations, its limited experience manufacturing Flywheel Energy Storage Systems on a commercial basis including the fact that no commercial contracts have been executed to date, the dependence of Beacon Power Corporation's sales on the achievement of product development and commercialization milestones, significant technological challenges including the risk of successfully developing the 2kWh and 6kWh Flywheel Energy Storage Systems as well as the commercial viability of each of these flywheel products, Beacon Power Corporation's dependence on third-party suppliers for key component parts, intense competition from companies with greater financial resources than Beacon Power Corporation, the risk that government regulation may impede Beacon Power Corporation's ability to market its products, possible product liability claims that may or may not result from safety failures of Beacon Power Corporation's flywheels and the negative publicity which could result, any failure to protect Beacon Power Corporation's intellectual property, any failure to hire and retain key executives, the lack of availability of additional financing, the recent volatility in the stock price of companies operating in the same sector as Beacon Power Corporation, control by Beacon Power Corporation's controlling shareholders and the limited ability of other investors to influence the outcome of matters requiring shareholder approval, and conditions in the communications industry that comprises Beacon Power Corporation's initial target market, but are not limited to, factors detailed from time to time in Beacon Power Corporation's filings with the Securities and Exchange Commission.

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Publication:PR Newswire
Geographic Code:1USA
Date:Jul 10, 2001
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