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Telegen Signs Memorandum of Understanding with Shanghai Vacuum Electron Devices Co., Ltd. and Shanghai Novel Colour Picture Tube Co., Ltd.

SAN MATEO, Calif. -- Telegen Corporation (BULLETIN BOARD: TEGN) and its subsidiary, Telegen Display Corporation (TDC), announced today that they have entered into a Memorandum of Understanding with Shanghai Vacuum Electron Devices Company, Ltd. and its subsidiary, Shanghai Novel Colour Picture Tube Co., Ltd., a major CRT manufacturer, to immediately commence detailed technical discussions and business negotiations for a formal contractual arrangement between Telegen and SVAE regarding manufacture of Telegen's proprietary High Gain Emissive Display (HGED) flat panel display technology. Bonnie Crystal, Chief Technology Officer of Telegen and Donna M. Morabito, Vice President of Business Development for TDC, will lead the technical and business teams, respectively.

Shanghai Vacuum Electron Devices Company, Ltd. (SVEC) is a major manufacturer and distributor of electronic vacuum devices based in Shanghai, China, with eight subsidiary companies employing over 4,000 employees and total sales of $643,177,294 in FY2000. Shanghai Novel Colour Picture Tube Co., Ltd., a subsidiary of SVEC, is a major manufacturer of color picture tubes with sales of 4.86 million CRT units in FY 2000, representing 12.74% of total Chinese domestic production.

"We are very pleased to be working with a premier CRT manufacturer to begin commercialization of our HGED flat panel technology," said Donna M. Morabito, TDC's Vice President of Business Development. "We believe the synergistic potential between TDC and SVEC is enormous and will provide TDC with access to a proven infrastructure through which to commercialize our HGED technology."

About Telegen

Telegen Corporation is a high technology company headquartered in San Mateo, California. Telegen Corporation's subsidiaries include Telegen Display Corporation and Telisar Corporation. Telegen and its subsidiaries invent, develop, and commercialize innovative technology products in the wireless, communications, cable and broadcast, and flat panel display markets. Telegen's patented HGED technology is designed to bring clarity, brightness, and cost-effectiveness to flat panel displays. Telegen's wireless business unit is developing and marketing its InterTenna line of integrated antennas for the wireless industry. Telisar Corporation is developing digital television products for today's cable and broadcast marketplace. Telegen's stock is quoted on the OTC Bulletin Board under the symbol TEGN. For further information, visit the Telegen web sites at http://www.telegen.com/ and http://www.telegendisplays.com/.

About SVEC

Shanghai Vacuum Electron Devices Company, Ltd. (SVEC) is a major manufacturer and distributor of electronic vacuum devices based in Shanghai, China, with eight subsidiary companies employing over 4,000 employees and total sales of $643,177,294 in FY2000. Shanghai Novel Colour Picture Tube Co., Ltd., a subsidiary of SVEC, is a major manufacturer of color picture tubes with sales of 4.86 million CRT units in FY 2000, representing 12.74% of total Chinese domestic production. Shanghai Haijing Electronics Co., Ltd., is a major manufacturer of liquid crystal display devices, shipping 11.1 million units in FY 2000. SVEC also produces over 1 million B/W CRT picture tubes, 3.27 million microwave tubes and over 11 million Color Panels. SVEC's shares are traded over the Shanghai Stock Exchange under the names Vacuum Electric and Vacuum B Shares. For further information, visit the SVEC web sites at http://www.svec.com.cn/.
 Contacts:
 Telegen Corporation:
 Amanda Christianson, Investor Relations, 650-261-9400, email:
 achristianson@telegen.com
 OTC Financial Network: www.otcfn.com/tegn
 Geoffrey J. Eiten, Analyst Inquiries, 781-444-6100, ext. 613, email:
 geiten@otcfn.com
 Mario "Ike" Iacoviello, Investor Relations, 888-765-5362, email:
 ike@otcfn.com
 Susan Ladue, Media Relations, 781-444-6100, ext. 637, email:
 susan@otcfn.com.
 Magnum Financial Group:
 Mike Manahan, Account Manager, 213-488-0443, email:
 mike@magnumfinancial.com.


Forward-looking statements contained in this press release are made under "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties that could materially affect future results. The words "forecast," "estimate," "project," "intend," "expect," "should," "believe," "plan", "scheduled" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance [financial or operating] or achievements to differ from the future results, performance [financial or operating] or achievements expressed or implied by such forward-looking statements. Additional discussion of these and other factors affecting the Company's business and prospects is contained in the Company's periodic filings with the Securities and Exchange Commission.

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Contact: Amanda Christianson, Investor Relations of Telegen Corporation, +1-650-261-9400, achristianson@telegen.com; or Geoffrey J. Eiten, Analyst Inquiries, +1-781-444-6100, ext. 613, geiten@otcfn.com, or Mario "Ike" Iacoviello, Investor Relations, +1-888-765-5362, ike@otcfn.com, or Susan Ladue, Media Relations, +1-781-444-6100, ext. 637, susan@otcfn.com, all of OTC Financial Network; or Mike Manahan, Account Manager of Magnum Financial Group, +1-213-488-0443, mike@magnumfinancial.com

Website: http://www.phc-inc.com/
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Date:Mar 12, 2002
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