Electric Fuel's Instant Power™ Chargers For PDAs Named Best Power Accessory In Pocket PC People's Choice Awards

- Also Rated 'Best Value' by UK's PCPlus Magazine -

October 16, 2001— Electric Fuel Corporation (Nasdaq: EFCX) announced today that its INSTANT POWER™ chargers were voted the best power accessory in the 2001 Pocket PC People's Choice Awards announced at last week's Pocket PC Summit Conference in Santa Monica, California. The chargers enable users to keep working on a dead battery as well as charge their PDAs without electricity in a car, on a train, in a meeting, or anywhere else an electrical outlet is not readily available.

Yehuda Harats, Electric Fuel President and CEO, said, “This award demonstrates the high value that PDA users place on having emergency and back-up power as well as the high regard in which they hold our INSTANT POWER chargers. With millions of PDAs now in circulation and the ongoing growth in the product category, this is an important market for us, and having this kind of endorsement from the PDA user community will reinforce our efforts to spread the word about our chargers to our target customers.''

Electric Fuel makes INSTANT POWER chargers for a variety of PDAs utilizing Microsoft's Pocket PC operating system, including the Compaq iPAC, HP Jornada and Casio Cassiopeia series, as well as handhelds compatible with the Palm operating system. Each charger plugs directly into the PDA, weighs less than three ounces, and begins delivering power within a minute through Electric Fuel's patented zinc-air fuel cell technology.

Each package includes a 2“ x 2'' zinc-air PowerCartridge™ that is activated when exposed to air, a special SmartCord™ adapter that connects the universal cartridge to the specific PDA model, and an airtight pouch designed to store the cartridge between uses in order to preserve power for the next use.

Electric Fuel also makes INSTANT POWER products for dozens of cellphones. The line includes INSTANT POWER cellphone chargers that perform the same functions as the PDA chargers, plus disposable INSTANT POWER cellphone batteries that snap into place like rechargeables, come fully charged right out of the package, and last up to five times longer than standard rechargeables to give users a reliable source of emergency and back-up power.

The Pocket PC Summit and awards were sponsored by Pocket PC magazine. The awards were given in a number of hardware and software categories and were open to voting on the conference's website for several weeks leading up to the Oct 10-12 event.

“Best Value'' Rating in UK

Electric Fuel also announced that the UK's PCPlus Magazine gave INSTANT POWER chargers for cellphones and PDAs a “Best Value'' rating in the November 2001 issue. The magazine gave INSTANT POWER an overall score of 9 out of a possible 10 points, including 10 out of 10 in the “Value for money'' category.

About Electric Fuel

Electric Fuel Corporation (http://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.