Managing Directors from Mitsubishi Securities, Seeking New Investment Opportunity
=== June 28, 2004 ===

Managing Director & Chief Executive from Mitsubishi Securities (HK) visited Powerzinc Electric, (Shanghai) Inc. on June 10, 2004 to discuss the possibility of future cooperation in Zinc-air fuel cell industry.

In 2002, four companies, KOKUSAI Securities, Tokyo-Mitsubishi Securities, Tokyo-Mitsubishi Personal Securities and Issei Securities, merged and created Mitsubishi Securities that commenced its business operation in September 2002. Mitsubishi Securities has 4,140 employees and 68 branch offices all around Japan. In the four companies mentioned above, except Tokyo-Mitsubishi Securities, the other three ones all have over 50 years operation experience in securities market. The new company¨s total revenue in past 9 months increases by more than 200% than past record.

Under the guidance of the technicians of Powerzinc, the guests visited Powerzinc¨s DQFC zinc-air fuel cell manufacture and regeneration model plant, which located at 1200 Huajing Road, Shanghai. They also gladly tried the e-bike powered by DQFC zinc air fuel cells.

Both directors showed great interests in the developments achieved by Powerzinc in fuel cell technology. They particularly expressed their concern for the ongoing e-bus program of Powerzinc. They significantly noted that they would visit Shanghai again with other potential investors when Powerzinc has finished the demo e-buses to enhance mutual understanding and pave ways for further cooperation in zinc-air fuel cell technology between the two parties.

About Powerzinc

Powerzinc Electric, Inc. is a California-based Hi-Tech company. It is dedicated to the research, development, manufacturing and commercialization of advanced zinc-air fuel cells and entire manufacture facilities, along with fuel cells refuel service platform. Through years of R&D, Powerzinc has achieved significant breakthroughs in zinc-air fuel cell technology and developed the high power, large energy, long-lasting, low cost and environment-friendly power and energy source. Its innovative products - DQFC series of zinc-air fuel cells with creative design and process technology is a totally renewable energy for electric vehicles and various other applications today.


About Powerzinc Electric (Shanghai), Inc

In Shanghai, China, Powerzinc has established a zinc-air fuel cell manufacturing and service model plant to commercialize the technology and its products. The plant is ready for commercial-scale production. The Company has started supplying DQFC series zinc-air fuel cells to manufacturers of Electric Bicycles and Electric Scooters. In the near future, the new series of DQFC zinc-air fuel cells for Electric Buses, Defense and Security, Communication and other applications will be available to the commercial market soon to satisfy the real highly growing demand anywhere in the world.







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