SOURCE: Advanced Battery Technologies

August 23, 2007 08:30 ET

Advanced Battery Technologies Announces Letter of Intent With Chinese Electric Vehicle Manufacturer

Wuxi Anjiu's Products Available in 48 Countries Worldwide

HARBIN, CHINA and NEW YORK, NY--(Marketwire - August 23, 2007) - Advanced Battery Technologies, Inc. (OTCBB: ABAT) today announced that it has entered into a cooperation agreement with Wuxi Anjiu Bicycle Co., Ltd. of China. Advanced Battery Technologies, Inc. develops, manufactures, and distributes rechargeable polymer lithium-ion (PLI) batteries.

The agreement is for ABAT to work with Wuxi to help it transition its electric vehicle products from lead acid batteries to ABAT's advanced rechargeable PLI batteries. Wuxi Anjiu produces 600,000 bicycles and motorcycles annually for sale in 48 countries worldwide.

"We are extremely pleased to be working with Wuxi Anjiu," stated Mr. Zhiguo Fu, C.E.O. of Advanced Battery Technologies. "As our PLI batteries are gradually incorporated into Wuxi's bicycles and motorcycles, Wuxi's substantial market reach assures broad recognition for our PLI batteries and their superiority over existing types of batteries. This will be extremely beneficial to ABAT 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. ABAT develops PLI batteries for use in electric vehicles, mine lamps, and consumer electronics, including cellular telephones, laptop computers, and digital cameras. ABAT 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.

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