May 23, 2006 07:30 ET

Hybrid Technologies Inc. (NASD OTCBB: HYBT) 20% Stock Dividend Update

WASHINGTON, DC and LAS VEGAS, NV -- (MARKET WIRE) -- May 23, 2006 -- Hybrid Technologies, Inc. (OTCBB: HYBT) www.hybridtechnologies.com, emerging leaders in the development and marketing of lithium powered products worldwide, is pleased to confirm that the second installment (5%) of the 20% - 2006 Stock Dividend Plan will be payable to shareholders of record as of May 31, 2006 on June 2, 2006.

2006 - Stock Dividend Plan

5% Stock Dividend was paid to each shareholder of record on March 31, 2006. 2006 Stock Dividend Plan will pay 5% each to shareholders of record on May 31, 2006; August 31, 2006; November 30, 2006; and February 28, 2007.Upon payment of the stock dividend to shareholders of record on May 31, 2006, Hybrid Technologies will have paid 45% stock dividend from February 28, 2005.

About Hybrid Technologies: www.hybridtechnologies.com

Forward-Looking Statement

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.