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Cobasys Confirms Contracts for Hybrid Electric Vehicle Programs

Orion, Mich., August 29, 2005 -- In response to media inquiries, Cobasys announced today that it has received battery pack purchase orders from customers for upcoming hybrid electric vehicle (HEV) production programs. These battery systems will be “plug and play,” fully integrated solutions, manufactured and assembled by Cobasys at its Springboro, Ohio facility. Production will be scheduled to meet each customer’s program delivery requirements.

The company also confirmed that it is in the advanced stages of hybrid vehicle prototype development and testing for several transportation and vehicle manufacturing companies located in North America, Europe and Asia.

Thomas S. Neslage, Cobasys President and CEO stated, “We are very pleased to have been selected for these ground-breaking hybrid programs and to be associated with these world class automotive companies. However, because our customers have not yet announced their program specifics, we can not provide any additional details at this time. More information will be made available after our customers launch their programs.”

Cobasys designs and manufactures proprietary advanced Nickel Metal Hydride (NiMH) battery system solutions for transportation markets including: HEV, Electric Vehicles (EV) and 42 volt applications, in addition to stationary back-up power supply systems for Uninterruptible Power Supply systems (UPS), Telecommunications and Distributed Generation requirements.

Cobasys is a joint venture between Chevron Technology Ventures LLC, a subsidiary unit of Chevron Corporation (NYSE: CVX) and Energy Conversion Devices, Inc. (NASDAQ: ENER). For more information about Cobasys contact Ray Wagner, Vice President of Marketing at 248-620-5700 or visit our website at www.Cobasys.com.

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