DaimlerChrysler and Ford Invest CDN $55 Million in Ballard Power Syste

    Business Editors

    VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 13, 2005--Ballard Power Systems (NASDAQ: BLDP)(TSX: BLD) today announced its Vehicular Alliance partners, DaimlerChrysler AG and Ford Motor Company, yesterday completed the previously announced purchase of CDN $55 million of Ballard common shares pursuant to a Call Agreement entered into by the parties on December 31, 2003. DaimlerChrysler purchased 2,431,388 common shares of Ballard at CDN $12.34 per share, for an aggregate purchase price of CDN $30 million. Ford purchased 2,026,157 common shares of Ballard at CDN $12.34 per share, for an aggregate purchase price of CDN $25 million.

    Following the issuance of Ballard common shares pursuant to the Call Agreement, DaimlerChrysler owns 22,085,992 Ballard common shares or 17.9% and Ford owns 24,181,198 Ballard common shares or 19.6% of the issued and outstanding Ballard common shares (based on 123,236,389 Ballard common shares outstanding).

    "This investment strengthens our financial position, and also shows the commitment of our Alliance partners, DaimlerChrysler and Ford, to Ballard, our fuel cell alliance and automotive fuel cells," said Dennis Campbell, Ballard's President and Chief Executive Officer.

    About Ballard Power Systems

    Ballard Power Systems is recognized as the world leader in developing, manufacturing and marketing zero-emission proton exchange membrane fuel cells. Ballard's mission is to develop fuel cell power as a practical alternative to internal combustion engines through technology leadership. To learn more about what Ballard is doing with Power to Change the World(R), visit www.ballard.com.

    For further information, please contact Michelle Cormack or Rebecca Young at 604-454-0900.

    This release contains forward-looking statements that are based on the belief of Ballard's management and reflect Ballard's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this release, the words "estimate," "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," the negative of these words or such other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current view of Ballard with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in those forward-looking statements.

    Ballard, the Ballard logo and Power to Change the World are registered trademarks of Ballard Power Systems Inc. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.

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CONTACT: Ballard Power Systems Inc. - Investor Information Michael Rosenberg (604) 412-3195 Fax: (604) 412-3100 Email: investors@ballard.com OR Ballard Power Systems Inc. - Media Information Media Relations (604) 454-0900 Fax: (604) 412-3100 Email: media@ballard.com OR Ballard Power Systems Inc. - Product Information Marketing Department (604) 453-3520 Fax: (604) 412-3100 Email: marketing@ballard.com Website: www.ballard.com

KEYWORD: NEW YORK INTERNATIONAL CANADA INDUSTRY KEYWORD: AUTOMOTIVE MANUFACTURING MARKETING AGREEMENTS SOURCE: Ballard Power Systems Inc.

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