Electric Vehicle Division News

Electric Fuel to Demonstrate Zinc-Air Bus in Washington, DC

February 6, 2002 — Electric Fuel Corporation (NasdaqNM: EFCX), the world's leading zinc-air fuel cell company, announced today that it plans to demonstrate its revolutionary zinc-air fuel cell transit bus in Washington, DC, in mid-March. The drives in the nation's capital, which will be for invited government officials and journalists, are part of Electric Fuel's efforts to obtain partnerships and funding for its proposed zinc-air electric bus mini-fleet demonstration project.

Electric Fuel's zinc-air electric bus is the nation's first practical zero-emission transit bus, designed to provide enough energy to power a full-sized city bus for a full day's driving on a single refueling. The bus, developed with support from the Federal Transit Administration and the BIRD Foundation, has been extensively track-tested as part of an ongoing FTA demonstration and evaluation program, and was demonstrated for the public in Las Vegas, Nevada, in November 2001.

Yehuda Harats, Electric Fuel president and CEO, said, "Washington is an important stop on the road to assembling the coalition of participants in our bus fleet demo project. The congressional and government support that we have received thus far has been essential to the success of our zinc-air fuel cell bus program, and we hope to use these demonstration drives to gain continued and expanded support for our proposed mini-fleet program."

About Electric Fuel

With corporate and sales offices in New York and London, England, and manufacturing and R&D facilities in Israel and Alabama, Electric Fuel Corporation 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. For more information on Electric Fuel, please visit our web site at www.electric-fuel.com, or find out more about our consumer products at www.instant-power.com.

All brand names mentioned in this release are trademarks or registered trademarks of their respective owners.

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.