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ULTRALIFE BATTERIES ANNOUNCES A TECHNOLOGY AND PATENT LICENSE AGREEMENT WITH BELLCORE

 NEWARK, N.Y., Oct. 22 /PRNewswire/ -- Ultralife Batteries, Inc. (NASDAQ: ULBI) announced today that it has signed a Technology Transfer Agreement with Bell Communications Research Inc. (Bellcore). Bellcore is the research and engineering arm of a number of Bell companies including Bell Atlantic, Nynex, Bell South, Ameritech, Southwestern Bell, U.S. West and Pacific Telefis.
 The agreement involves the licensing of advanced lithium rechargeable battery technology utilizing many of Bellcore's patents and know-how. The technology has been developed as an outgrowth of Bellcore's $1.1 billion annual budget which is directed at advancing the state of the art in many technologies. Rechargeable lithium batteries offer significant advantages over conventional rechargeable batteries such as nickel cadmium and nickel metal hydride including more energy per unit weight and volume. These environmentally friendly batteries will be targeted for use in the rapidly growing rechargeable battery market for application in portable devices including cellular telephones, Personal Communication Services (PCS), lap top computers, camcorders and other sophisticated electronic devices. Annual sales of rechargeable batteries are expected to reach $10 billion by 1994. The market for the type of high performance rechargeable battery which Ultralife plans to develop and manufacture is estimated to account for approximately $4 billion of the total market.
 Ultralife Batteries has assembled an experienced research and development team whose efforts are directed toward the commercialization of these high performance lithium rechargeable batteries. It is anticipated that prototype batteries will be available for evaluation early 1994.
 Bruce Jagid, chief executive officer of Ultralife, said, "The agreement with Bellcore is an important milestone in accelerating the development of high performance rechargeable batteries for both consumer and industrial markets." Jagid stated, "The effort which Bellcore has expended and their development of this technology will enable Ultralife to accelerate the completion of this development. These batteries will allow designers of new wireless electronic equipment to produce products which will be smaller, lighter and offer consumers unique features."
 Ultralife Batteries, Inc. was formed in December of 1990 and acquired the assets of the Lithium Battery Division of the Eastman Kodak Company in March of 1991. The company manufactures primary lithium batteries offering significant advantages over conventional batteries. Ultralife is presently manufacturing a 9-volt lithium battery which is superior to all other 9-volt batteries on the market. These batteries are being sold to original equipment manufacturers as well as to a limited number of retail outlets.
 -0- 10/22/93
 /CONTACT: Martin Rosansky of Ultralife Batteries, 201-227-0887/
 (ULBI)


CO: Ultralife Batteries, Inc. ST: New York IN: CHM SU: CON

KL-LC -- CL003 -- 5595 10/22/93 09:04 EDT
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Publication:PR Newswire
Date:Oct 22, 1993
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