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ELECTROSOURCE ANNOUNCES EPRI CONTRACT AMENDMENT

 AUSTIN, Texas, Feb. 16 /PRNewswire/ --Electrosource, Inc. (NASDAQ: ELSI) announced today it has received an amendment to a contract with the Electric Power Research Institute (EPRI) of Palo Alto, Calif., which began on July 21, 1992. The $300,000 amendment increases EPRI's investment to date in development of the company's Horizon(R) battery technology to $908,000. Work authorized under the amendment will emphasize development of certain process issues relating to mass production of the company's advanced battery. The amendment calls for the new tasks to be completed by the end of June, 1993.
 A major research and development organization funded by approximately 70 percent of the electric utility companies in the United States, EPRI is deeply involved in the development of advanced electric transportation systems and component technologies.
 Headquartered in Austin, ELSI is a publicly traded company whose principal business is developing advanced lead-acid batteries for commercial applications. The company's current development effort is focused on the battery-powered electric vehicle.
 -0- 02/16/93
 /CONTACT: Audrey T. Dearing, corporate secretary of Electrosource, Inc., 512-445-6606/
 (ELSI)


CO: Electrosource, Inc. ST: Texas IN: SU:

AH -- NY056 -- 6855 02/16/93 11:22 EST
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Publication:PR Newswire
Date:Feb 16, 1993
Words:192
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