Cobasys Successfully Completes TS16949 Quality Standard Surveillance Audit.

Orion, MI October 17, 2006Cobasys, a leading supplier of advanced integrated energy storage solutions, today announced it has successfully completed its first surveillance audit of their TS16949 quality certification, an exacting set of principles that define the quality management system requirements for the design, development and manufacture of products for the automotive industry.

Certification to TS16949 was initially awarded to Cobasys on August 10, 2005 after a comprehensive audit by the Bureau Veritas Quality International (BVQi). Although this certification is completely voluntary, it has become a market requirement for success within the automotive industry.

Mike Paruszkiewicz, C.Q.M., Corporate Quality Manager stated, “We are demonstrating our commitment to exceed the expectations of our customers and we will continue to enhance our impressive list of certifications which also include ISO 17025, ISO 9001:2000 and TL 9000. Cobasys is well positioned to achieve our 2007 goal of deploying the Six Sigma quality regimen into our company.”

“Since our inception, the focus of the entire organization has been on product and process quality,” said Matt Jonas, General Manager, Springboro Plant Manufacturing. “From the initial delivery of OEM customer production orders, Cobasys has been registered to the toughest and most rigorous industry standards in the world. We are extremely proud of our employees for having the discipline to continuously achieve these milestones.”

Cobasys designs, manufactures and integrates advanced battery system solutions featuring Nickel Metal Hydride for transportation markets, including Hybrid Electric Vehicles (HEV), Electric Vehicles (EV) and 36/42 Volt applications and to stationary markets, including Back-Up power supply systems for Uninterruptible Power Supply (UPS), Telecom and Distributed Generation markets.

Cobasys is a joint venture between Chevron Technology Ventures LLC, a subsidiary of Chevron Corporation (NYSE: CVX) and Energy Conversion Devices, Inc. (NASDAQ: ENER).

For more information about Cobasys, contact Ray Wagner at 248-620-5700 or visit our website at www.cobasys.com.

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