Electrovaya Inc.

Electrovaya Inc.

March 14, 2005 07:00 ET

Electrovaya Inc. Reduces Size Of Board Of Directors


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ELECTROVAYA INC.

TSX SYMBOL: EFL

MARCH 14, 2005 - 07:00 ET

Electrovaya Inc. Reduces Size Of Board Of Directors

TORONTO, ONTARIO--(CCNMatthews - March 14, 2005) - Electrovaya Inc.
(TSX:EFL) has announced that it will be presenting a slate of five
Directors for re-election at its Annual General Meeting, down from the
current seven.

To improve the independence of the Board, Dr. Jim Jacobs, co-founder and
Chief Technology Officer, will not be standing for re-election at the
company's Annual General Meeting. In addition, as part of Electrovaya's
efforts to ensure orderly Board renewal, Dr. Pandit Patil will not be
standing for re-election at the Annual General Meeting, and the Company
will be reviewing opportunities to add new Directors over the coming
months.

The Annual General Meeting will be held on March 29, 2005 at the TSX
Conference Centre.

About Electrovaya:

Electrovaya's goal is to become the leading provider of tablet PCs;
portable power for the notebook computer, aerospace and wireless
sectors; and to apply its technology to a broad spectrum of alternative
energy applications including UPS, stand-by power and zero-emission
vehicles. It develops, manufactures and sells high value products
globally using award winning patented proprietary lithium ion
SuperPolymer® rechargeable battery technology, which delivers the
highest energy density of any battery technology on the market today.
Electrovaya has designed, developed and markets the Scribbler™ Tablet
PC which offers longer run time than any other Tablet PC currently
available. The Company's shares trade on the Toronto Stock Exchange
under the symbol EFL.

For more information about the Company and its products, please visit
www.electrovaya.com.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Electrovaya Inc.
    Dr. Sankar Das Gupta
    Chairman & CEO
    (905) 855-4611
    sdasgupta@electrovaya.com
    or
    Electrovaya Inc.
    2645 Royal Windsor Dr.
    Mississauga, Ontario, Canada
    L5J 1K9