SOURCE: Advanced Battery Technologies, Inc.

March 06, 2007 08:30 ET

Advanced Battery Technologies, Inc. Announcement of New Independent Director

HARBIN, CHINA -- (MARKET WIRE) -- March 6, 2007 -- Advanced Battery Technologies, Inc. (OTCBB: ABAT), a developer and manufacturer of rechargeable Polymer-Lithium-Ion ("PLI") batteries, announced today that it has appointed John J. McFadden to their Board of Directors as an outside Director and Chairman of the Audit Committee of the Board. This appointment will be subject to shareholders election at the next scheduled shareholders meeting. Mr. McFadden brings to the Board a wide range of financial skills. Mr. McFadden joined The First Boston Corporation in 1968 and retired from that Corporation in 1996. While at First Boston, Mr. McFadden held several senior positions, including Treasurer. Upon retirement from First Boston, Mr. McFadden served as Vice Chairman of Cambridge Holdings, LLC, a private investment firm. Currently, Mr. McFadden is a consultant to financial institutions and energy-related companies, including BB&T and Optimira Energy.

Mr. Fu, Chairman of Advanced Battery Technologies, commented that, "We are delighted Mr. McFadden has agreed to serve on our Board of Directors and welcome his expertise as we continue to expand our business and improve our financial position."

About Advanced Battery Technologies, Inc.

Advanced Battery Technologies, Inc., founded in September 2002, develops, manufactures and distributes rechargeable PLI batteries. The Company's products include PLI batteries for electric vehicles, mine-use lamps, cell phones, notebook computers, and other personal electronic devices. The Company's batteries combine high-energy chemistry with state of the art polymer technology to overcome many of the shortcomings associated with other types of rechargeable batteries. The PLI battery for use in all-electric vehicles is developed using the Company's proprietary technologies. The Company's R&D and manufacturing facilities are located in China and the Company maintains an office in New York City.

For more information about Advanced Battery Technologies, Inc., please visit the Company's web site:

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995.

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the Company's actual results to be materially different from any future results or performance suggested by forward-looking statements in this release. These risks and uncertainties include, without limitation, risks that our products as manufactured are not acceptable in mass markets. We undertake no obligation to revise or update publicly any forward-looking statement.

Contact Information

  • Contact:

    Lynne Lu
    21 West 39th Street
    New York, NY 10018
    Tel: (2120 391-2752