Electric Vehicle Division News

Electric Fuel's Zinc-Air Bus Washington, DC Demonstration
Slated For March 13

March 6, 2002 — Electric Fuel Corporation (NasdaqNM: EFCX), announced today that the demonstration of its revolutionary zinc-air fuel cell transit bus in Washington, DC, is slated for March 13, 2002. Government officials and journalists are expected to attend.

The Company is hosting the demonstration in the nation's capital to obtain bipartisan support and gain access to budgetary funding for its proposed zinc-air electric bus mini-fleet project. This electric vehicle was first presented to the public in Las Vegas, Nevada, in November 2001, when the bus was demonstrated with a full passenger load in drives around the city.

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.

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(TM) 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.