Millennium Cell Delivers Stationary Hydrogen Energy System for Militar

    Business Editors/Energy Editors

    EATONTOWN, N.J.--(BUSINESS WIRE)--March 28, 2005--Millennium Cell Inc. (NASDAQ: MCEL), a leading developer of hydrogen energy systems announced today that it has delivered a five (5) kW Hydrogen on Demand(R) system for testing at the U.S. Department of Defense (DoD) Fuel Cell Test and Evaluation Center operated by Concurrent Technologies Corporation (CTC). These systems were designed and developed under Millennium Cell's subcontract from CTC announced on October 8, 2004.
    Under this program, the DoD has contracted with CTC to develop Common Core Power Production (C2P2) technology for the Air Force's Advanced Power Technology Office by utilizing fuel cell systems as interchangeable power sources for military equipment. The systems developed by Millennium Cell under this award are designed to mix solid fuel pellets (chemical hydrides) into a fuel solution to produce hydrogen on demand to power fuel cells for military and industrial applications. Millennium Cell's solid fuel technology provides a robust hydrogen energy system with unlimited shelf life and simple re-fueling.
    "With this program, we are able to broaden the application of our scalable technology," commented Adam Briggs, Millennium Cell Senior Vice President. "We are pleased to deliver on our commitments to Concurrent Technologies and to strengthen our relationships with the U.S. military."

    About Millennium Cell

    Millennium Cell Inc. is engaged in the development of hydrogen energy systems for use primarily in portable electronics devices. Energy systems based on the Company's innovative and proprietary Hydrogen on Demand(R) technology safely generate high-quality hydrogen through the use of sodium borohydride. This chemical compound is non-combustible, high in energy density, easily distributed, and convenient for consumer use. Millennium Cell is developing technology in partnership with corporate and government entities. For more information, visit www.millenniumcell.com.

    About Concurrent Technologies Corporation

    Concurrent Technologies Corporation (CTC) is an independent, nonprofit, applied research and development professional services organization providing management and technology-based solutions to a wide array of clients representing state and federal government as well as the private sector. Established in 1988, CTC operates from more than 35 locations with a staff of over 1,300 employees. For more information about CTC, please visit www.ctc.com.

    About FCTec

    The Fuel Cell Test and Evaluation Center (FCTec) is operated by Concurrent Technologies Corporation (CTC) for the U.S. Army Corp of Engineers' Engineer Research and Development Center/Construction and Engineering Research Laboratory (ERDC/CERL). The FCTec is a national resource facility for the independent, unbiased testing and validation of fuel cell systems for both military and commercial applications. The FCTec's primary goal is to significantly accelerate the development and commercialization of fuel cell systems, fuel infrastructure and fuel processor systems through comprehensive research, development, test and evaluation, integration, and optimization services. For more information about the FCTec, please visit www.fctec.com.

Concurrent Technologies Corporation Robert Unger Manager, Fuel Cell Programs 814-269-2721 ungerb@ctc.com

Concurrent Technologies Corporation Robert Wertz Senior Project Engineer, Fuel Cell Programs 814-269-6848 wertzr@ctc.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. These 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 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) our ability to secure government funding of our research and development and technology demonstration projects; (v) our ability to enter into agreements with collaborators and strategic partners and the failure of our collaborators and strategic partners to perform under their agreements with us; (vi) our 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 our hydrogen fuel storage and delivery system, (vii) our ability to protect our intellectual property, (viii) our ability to achieve budgeted revenue and expense amounts and (ix) other factors detailed from time to time in Millennium Cell's filings with the Securities and Exchange Commission.

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CONTACT: Millennium Cell Inc. John D. Giolli, 732-542-4000 or Investor Contact: Brod & Schaffer, LLC Betsy Brod or Jonathan Schaffer, 212-750-5800

KEYWORD: NEW JERSEY INDUSTRY KEYWORD: AEROSPACE/DEFENSE GOVERNMENT ENERGY PRODUCT SOURCE: Millennium Cell Inc.

Copyright Business Wire 2005