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Technology Stocks : Fuel Cell Investments

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To: RWReeves who started this subject	12/3/2001 10:05:27 AM
From: Mark Fleming	of 280

Monday December 3, 8:16 am Eastern Time Press Release SOURCE: Ballard Power Systems Inc. Ballard and Ford Sign $69.1-Million Agreement for Fuel Cell Engines and Related Support Services VANCOUVER, B.C.--(BUSINESS WIRE)--Dec. 3, 2001--Ballard Power Systems (NASDAQ:BLDP - news; TSE:BLD. - news) announced today that its Transportation Division has signed a three-year agreement valued at $69.1-million (US $43.9-million) with alliance partner Ford Motor Company of Dearborn, Michigan. Under the terms of the agreement, Ballard will supply Ford with fuel cell engines and related engineering and support services. ``This $69.1-million order for the development of fuel cell engines is in addition to Ford's September order of $34.5-million, and brings Ford's total recent orders to over $100-million,'' said Firoz Rasul, Chairman and Chief Executive Officer. ``This new order is further confirmation of Ford's commitment to Ballard and to the commercialization of fuel cell vehicles.'' ``We are proud to be an integral part of Ford's fuel cell vehicle program,'' said Dr. Andreas Truckenbrodt, Ballard's Vice-President, Transportation. ``This is the first order under our 20-year exclusive purchase agreement with Ford for fuel cell engines.''

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