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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: Chuck Lehman who wrote (12322)	6/24/1999 8:39:00 AM
From: Doug McKenzie-Mohr	Respond to of 27311

Here's the announcement: VALENCE TO SUPPLY ALLIANT TECHSYSTEMS WITH INNOVATIVE LITHIUM POLYMER TECHNOLOGY ALLIANT POWER SOURCES TO INCORPORATE VALENCE'S PROPRIETARY Technology Into Specialized Military Applications HENDERSON, Nev., Jun 24, 1999 /PRNewswire via COMTEX/ -- Valence Technology Inc. (Nasdaq: VLNC), a developer of advanced rechargeable lithium polymer battery technology, today announced another significant purchase order for its proprietary battery material. Alliant Power Sources Company, an Alliant Techsystems (NYSE: ATK) operating company based in Horsham, Pa., has ordered both battery component material and finished battery cells from Valence to be used in the construction of several different specialized batteries for military and aerospace applications. Alliant and Valence have a joint venture agreement that, in part, allows Alliant to represent Valence's battery products in the military and aerospacemarkets. Alliant also placed a purchase order for Valence-made 44N series (measuring 4"x4") lithium polymer batteries that will be integrated into larger Alliant batteries in groups of 16 to 40 battery cells each. These component batteries are currently being produced at Valence's main production facility in Northern Ireland. "We have tested Valence cells and the Valence lithium polymer battery technology against our customers' requirements," said Dr. Pat Narendra, president of Alliant Power Sources Company. "We chose Valence because of the performance and flexibility of their technology to meet the demands of our military and aerospace customers." "Alliant Power Sources has demanding military and aerospace applications that require the highest quality and performance," said Lev Dawson, chairman, CEO and founder of Valence. "We believe that our components and our lithium polymer battery technology are ideally suited for these critical requirements." About Alliant Techsystems Alliant Techsystems is a $1.1 billion aerospace and defense company with approximately 6,000 employees. Headquartered in Hopkins, Minn., the company's operating segments are Conventional Munitions, Aerospace, and Defense Systems. ATK news and information can be found on the Internet at www.atk.com. About Valence Technology Inc. With more than 400 battery patents awarded and pending, Valence is a leader in the commercial production of lithium polymer batteries. The company operates facilities in Henderson, Nev.; Seattle, Wash.; and Mallusk, Northern Ireland. Valence is traded on the Nasdaq National Market under the symbol VLNC. Valence can be found on the Internet at valence-tech.com. The information contained herein includes forward-looking statements that involve risks and uncertainties. In particular, the establishment, development and potential success of product development and production outcomes are subject to risks and uncertainties both within and outside Valence's control. These risk factors are described from time to time in Valence's SEC reports, including on Form 10-K for the years ending March 29, 1998 and 1999, to which readers are referred. SOURCE Valence Technology Inc. (C) 1999 PR Newswire. All rights reserved. http://www.prnewswire.com -0- CONTACT: Lev Dawson, Chief Executive Officer of Valence Technology, 702-558-1000; or General Inquiries, Virginia St. John-Needham, Analyst Inquiries, Bob Geiger, or Media Inquiries, Mary Tokita, all of The Financial Relations Board, 310-442-0599 WEB PAGE: atk.com valence-tech.com GEOGRAPHY: Nevada Pennsylvania INDUSTRY CODE: CPR ARO SUBJECT CODE: JVN