SOURCE: Advanced Battery Technologies, Inc.

January 07, 2008 08:45 ET

Advanced Battery Technologies Announces $23.4 Million Contract With Wuxi Angell Autocycle

Wuxi Angell's Products Available in 48 Countries Worldwide

NEW YORK, NY and HARBIN, CHINA--(Marketwire - January 7, 2008) - Advanced Battery Technologies, Inc. (AMEX: GBT) today announced the signing of a contract with Wuxi Angell Autocycle Co., Ltd. to produce battery cells for 150,000 electric bicycles and motorcycles by the end of 2008. Wuxi Angell Autocycle Co., Ltd. is a leading manufacturer of electric vehicles. Advanced Battery Technologies, Inc. develops, manufactures, and distributes rechargeable polymer lithium-ion (PLI) battery cells for use in electric vehicles, mining equipment, and a variety of consumer electronics.

GBT battery cells will be used in electric bicycles and motorcycles produced by Wuxi for export to the A.T.U. Corporation of Germany. A.T.U. has a number of subsidiaries worldwide and 49 overseas sales distributors.

"We are extremely pleased to have our batteries used in Wuxi's electric bicycles and motorcycles being exported to the A.T.U. Corporation of Germany," stated Mr. Zhiguo Fu, CEO of Advanced Battery Technologies. "Wuxi's substantial market reach, extended by A.T.U.'s equally significant reach, assures broad recognition for our PLI battery cells and their superiority over competitor products. This will be extremely beneficial as we advance our marketing efforts into new countries," Mr. Fu concluded.

About Advanced Battery Technologies, Inc.

Founded in September 2002, Advanced Battery Technologies develops, manufactures, and distributes PLI batteries using lithium cobalt oxide anodes to overcome many of the shortcomings associated with other types of rechargeable batteries. GBT develops PLI batteries for use in electric vehicles, mine lamps, and consumer electronics, including cellular telephones, laptop computers, and digital cameras. GBT maintains research and development, and manufacturing facilities in Harbin, China, and administrative offices in New York, New York. Additional information about Advanced Battery Technologies is available at www.abat.com.cn.

Forward-Looking Statements:

Certain statements in this news release may constitute "forward-looking" statements within the meaning of section21E of the Securities and Exchange Act of 1934. The Company believes that its expectations, as expressed in these statements are based on reasonable assumptions regarding the risks and uncertainties inherent in achieving those expectations. These statements are not, however, guarantees of future performance and actual results may differ materially. Risk factors are listed in the most recent Annual Report on Form 10-KSB, Quarterly Report on Form 10-QSB filed with the Securities and Exchange Commission. Such forward-looking statements involve risks and uncertainties, which may cause the actual results, performance, or achievement expressed or implied to differ.

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