Millennium Cell and Horizon Fuel Cell Provide Detailed Plans for HydroPak(TM) Portable Power Product

Millennium Cell Inc. (NASDAQ:MCEL) and Horizon Fuel Cell Technologies announced today the completion of a pre-production version of the HydroPak™ portable power generator that incorporates a unique water-activated cartridge system. The HydroPak™ product combines Horizon’s fuel cells with Millennium Cell’s Hydrogen on Demand® storage technology to offer a clean and quiet power generator for use by consumers and professionals for emergency and recreational purposes. This power source is a high energy alternative to lead acid battery packs and portable generators. The HydroPak™ system, together with each cartridge: Provides infinite shelf life and enough energy to recharge an average notebook computer 8 to 10 times Can run indoors with quiet operation and zero harmful emissions Is quieter, lighter and smaller than generators Stores more energy than possible with batteries Has a lower cost than any similar fuel cell device The HydroPak™ will debut at the Consumer Electronics Show (CES) at the Las Vegas Convention Center in South 1, Booth #21850H from Jan. 7-10. The system will also be shown to the U.S. military at the Tactical Power Sources Summit 2008 at the Georgetown University Conference Center in Washington, D.C. on Jan. 29-30. These conferences are the first venues where potential users and distributors can see HydroPak™ emergency power products publicly in the United States. The HydroPak™ is designed with a common AC outlet and two USB connectors to charge or operate low power devices such as portable lights, notebook computers, portable televisions and ad hoc communications networks for more than 14 continuous hours when needed. The planned retail pricing of $400 for the system and $20 for the disposable cartridges will make this solution attractive to both professionals responding to emergencies, as well as consumers desiring power for both backup and recreational needs. Beginning in February 2008, Horizon and Millennium Cell plan to demonstrate and sample limited numbers of the current pre-production unit to OEM’s, distributors, and key military decision makers. The current design of the unit is in the process of evaluation by Underwriters Laboratories (UL) and it is expected that listing will be received by mid 2008 on this product. Subsequently, several thousand units will be manufactured by Horizon for sale in the second half of 2008. Millennium Cell will have sole responsibility for all sales of the HydroPak™ power generation system in the United States. Additional products have been identified for development and are expected to be shipped to commercial and government customers for evaluation in 2008 and 2009. A HydroPak Mini™ product prototype for use in consumer devices such as cell phones, PDA’s and portable media players will also be demonstrated for the first time at the conferences in January. The objective of showing this unit is to gauge interest for a less expensive, smaller power source with unlimited shelf life and silent power for smaller portable communications and electronics devices. "We are excited about the prospects for the HydroPak™ line of products, beginning with the commercialization of the first water-activated portable power system in 2008 and followed shortly by others in 2009. We believe that these fuel cell power products possess a potent combination of convenience, performance and economics that are unique in the marketplace and will fill a void that exists today,” commented George Gu, CEO of Horizon Fuel Cell Technologies. In October, the two companies signed a Letter of Intent (LOI) to collaboratively develop, market, and sell certain portable fuel cell power products. The partnership is aimed at launching a number of commercial and consumer products that combine Horizon’s commercial grade fuel cells with hydrogen cartridges developed by Millennium Cell. Definitive documentation that amends the August 2007 license agreement between Horizon and Millennium Cell to reflect the terms of the LOI is expected to be completed in the first quarter of 2008. "Millennium Cell considers the HydroPak™ product line as a cornerstone in our product strategy and we are dedicating significant resources to support product introduction into the marketplace beginning in 2008. The initial reaction from OEM’s and potential distributors for this product has been very positive and we plan to generate our first commercial revenues through aggressively marketing and selling this innovative family of products,” commented Adam Briggs, President of Millennium Cell. About Millennium Cell Millennium Cell is a leader in the development of hydrogen battery technology used to power portable applications. Through its proprietary Hydrogen on Demand® fuel cartridges and PowerSkin™ fuel cell modules, the Company provides increased energy density resulting in longer runtime and lighter weight in a compact space. The Company is working with market partners to meet the demand for a better battery in the military, medical, industrial and consumer electronics markets. For more information, visit www.millenniumcell.com. About Horizon Fuel Cell Technologies Pte Ltd Thinking big, yet starting small, Horizon pioneered the sales of next-generation fuel cell power products in small consumer products, while developing larger-scale clean power solutions for practical applications in portable remote power, light-duty transportation and aerospace. With comprehensive technological developments focused on enabling fuel cell commercialization, Horizon is the first company to bring advanced fuel cell technology out of the laboratories and into the mass market today. For more information, visit http://www.horizonfuelcell.com. Cautionary Note Regarding Forward-looking Statements: This press release may include statements that are not historical facts and are considered ``forward-looking” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Millennium Cell’s current views about future events and financial performance and are subject to risks. Forward-looking statements are identified by their use of terms and phrases such as "believe,” "expect,” "plan,” "anticipate,” "on target” and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from Millennium Cell’s expectations, and Millennium Cell expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to, the following: (i) the cost and timing of development and market acceptance of Millennium Cell’s hydrogen fuel storage and delivery system; (ii) the cost and commercial availability of the quantities of raw materials required by the hydrogen fuel storage and delivery systems; (iii) competition from current, improving and alternative power technologies; (iv) Millennium Cell’s ability to raise capital at the times, in the amounts and at the costs and terms that are acceptable to fund the development and commercialization of its hydrogen fuel storage and delivery system and its business plan; (v) Millennium Cell’s ability to protect its intellectual property; (vi) Millennium Cell’s ability to achieve budgeted revenue and expense amounts; (vii) Millennium Cell’s ability to generate revenues from the sale or license of, or provision of services related to, its technology; (viii) Millennium Cell’s ability to form strategic alliances or partnerships to help promote our technology and achieve market acceptance; (ix) Millennium Cell’s ability to generate design, engineering or management services revenue opportunities in the hydrogen generation or fuel cell markets; (x) Millennium Cell’s ability to secure government funding of its research and development and technology demonstration projects; and (xi) other factors discussed under the caption "Investment Considerations” in Millennium Cell’s Annual Report on Form 10-K for the year ended December 31, 2006.