SOURCE: ZAP

May 02, 2007 14:58 ET

ZAP Advisory: Gas Prices Hit $4.50 for Premium Unleaded in San Francisco, California

SAN FRANCISCO, CA -- (MARKET WIRE) -- May 2, 2007 -- When Steve Schneider, CEO for electric car pioneer ZAP (OTCBB: ZAAP), saw gas advertised at $4.50 per gallon in San Francisco, California, he made a point of stopping to fill up so that he could say this is the most he has ever paid for gasoline in the US.

Schneider admits that he was feeling upbeat following his interview on CNBC's "Power Lunch" Tuesday morning talking about ZAP sales tripling in 2006. He kept the receipt as if no one at ZAP would believe him.

Gas prices across the country have risen 40 percent in the past three months with the national average rising from $2.15 to $3.00 per gallon, according to the US Energy Information Agency.

"You have to wonder if the era of $5 a gallon gasoline is not too far off," said Schneider. "The timing couldn't be better for ZAP's business plan." Gas prices in most parts of the world are much higher than in the US.

ZAP has warned of another factor that is having a profound affect on international oil supplies. ZAP Chairman and Co-Founder Gary Starr gave a presentation at the Alternative Fuel Vehicle Institute Conference in March about the Asia factor, that as many as 50,000 people in developing countries are moving from the country to the city every week.

"When you consider the impact a billion new users of internal combustion vehicles could have on oil prices and global warming, the need for electric vehicles has never been greater," said Starr. ZAP has mounted a campaign against global warming by educating consumers about electric vehicles and the planting of trees. Learn more at http://www.zaptrees.org.

About ZAP

ZAP has been a leader in advanced transportation technologies since 1994, delivering over 90,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and other innovative power systems, ZAP is developing a high-performance crossover SUV electric car concept called ZAP-X engineered by Lotus Engineering. The Company recently launched a new portable energy technology that manages power for mobile electronics from cell phones to laptops. For product, dealer and investor information, visit http://www.zapworld.com.

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

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