Electric Vehicle Division News

Electric Fuel Announces New November 27 Schedule for Electric Transit Bus Events

- First Zero-Emission Zinc-Air Bus to be Demonstrated in Las Vegas after Thanksgiving -

October 1, 2001 - Electric Fuel Corporation (Nasdaq: EFCX) announced today that its Las Vegas electric transit bus demo drive events have been re-scheduled to take place starting November 27, during the week after Thanksgiving, instead of in mid-October as originally planned.

Electric Fuel and its partners in the event decided to re-schedule the event in order not to divert the focus of the invited government, congressional and business leaders, who are long-term supporters of Electric Fuel's zero-emission transit bus program, from devoting their time to dealing with the aftermath of the tragic events of September 11.

Yehuda Harats, Electric Fuel's president and CEO, said, "Postponing this important and exciting event was a difficult decision, but we need to make sure that as many people as possible can take part. We are introducing the first practical electric transit bus in history, which is the beginning of a new era of cleaner transportation and reduced dependence on imported petroleum."

The demonstration drives, which will be hosted by the Regional Transportation Commission of Southern Nevada (RTC), are being conducted as part of Electric Fuel's Phase 2 agreement with the Federal Transit Administration (FTA) to demonstrate and evaluate the all-electric zinc-air transit bus.

The Company said that the first day of the demonstration drives would feature a presentation to Nevada congressional, state and local leaders, and participation by other project sponsors and partners. The bus will be driven around Las Vegas in regular traffic, providing photo opportunities at Las Vegas points of interest.

Details of the Las Vegas events, including information on demonstration drives for the general public, will be publicized as they become available on the Company's EV website at www.electric-fuel.com/EV.

About the Electric Fuel Zinc-Air Transit Bus Program

The Electric Fuel Zinc-Air Electric Transit Bus Program was initiated in 1998, with the aim of developing and demonstrating a full-sized, all-electric, zero-emissions transit bus utilizing zinc air battery technology for transit.

The bus used in the program is a standard 40-foot transit bus, with a capacity of 40 seated and 37 standing passengers and a gross vehicle weight of 39,500 lbs. Transit buses require a large energy storage battery to power the vehicle while attending to passenger needs such as air-conditioning, handicapped access, etc. The Phase 2 work focuses on additional testing, and integrating ultracapacitor technology to maximize the energy and power capabilities of the bus. The Company recently announced that it had completed performance testing of the all-electric, zero-emission bus at various venues in New York State.

About Electric Fuel

Electric Fuel Corporation (www.electric-fuel.com), with corporate and sales offices in New York and London, England, and manufacturing and R&D facilities in Israel and Alabama, is a world leader in primary and refuelable Zinc-Air fuel cell technology, pioneering advancements in consumer electronics, electric vehicles, and defense and safety products. Electric Fuel's INSTANT POWER™ batteries and chargers are based on the Company's patented, cutting-edge Zinc-Air fuel cell technology, and are on sale at retail outlets throughout the United States, Canada, Europe and Israel.

Except for the historical information herein, the matters discussed in this news release include forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements, as they are subject to various risks and uncertainties that may cause actual results to vary significantly. These risks and uncertainties include, but are not limited to, risks relating to: product and technology development; the uncertainty of the market for Electric Fuel's products; market acceptance of new products and continuing product demand; the ability to manage growth and ramp-up production effectively as needed; the impact of competitive products and pricing on Electric Fuel's products and markets; changing economic conditions; delay, cancellation or non-renewal of purchase orders; significant future capital requirements; and other risk factors detailed in Electric Fuel's most recent annual report on Form 10-K for the fiscal year ended December 31, 2000, and other filings with the Securities and Exchange Commission. Electric Fuel assumes no obligation to update the information in this release. Reference to the Company's website above does not constitute incorporation of any of the information thereon into this press release.