To: tony schwarz who wrote (131 ) 8/11/1999 11:54:00 AM From: tony schwarz Respond to of 215
(COMTEX) B: LITHIUM TECHNOLOGY CORPORATION COMPLETES BRIDGE FINANCING B: LITHIUM TECHNOLOGY CORPORATION COMPLETES BRIDGE FINANCING PLYMOUTH MEETING, Pa., Aug 11, 1999 /PRNewswire via COMTEX/ -- Lithium Technology Corporation ("LTC," "the Company") (OTC Bulletin Board: LITH) announced that it had closed on a $450,000 equity bridge financing transaction with private investors, including two Company Directors, two long terminstitutional investors who participated in previous Company financings, and certain other individuals specifically interested in a prospective strategic relationship for the Company. The proceeds are expected to provide operating cash flow while LTC pursues certain strategic partnership opportunities already underway as well as other private investment initiatives. Lithium Technology Corporation is in the late stages of developing and seeking to commercialize a new generation of solid state rechargeable batteries for portable electronics devices, such as notebook computers, cell phones and medical equipment. The Company's patented and proprietary technology uses high performance fibers in composite battery structures and low cost continuous flow fiber web coating and handling processes for manufacturing. These new batteries represent a significant benefit to the end-user in terms of longer run times and thinner, flatter, lighter-weight form factors. The foregoing information contains forward-looking statements which involve risks and uncertainties relating to such matters as financial performance, technology development, capital raising, business prospects, strategic partnering and similar matters. A variety of factors could cause LTC's actual results and experience to differ materially from anticipated results or other expectations expressed in these forward-looking statements. SOURCE Lithium Technology Corporation (C) 1999 PR Newswire. All rights reserved. prnewswire.com -0- CONTACT: Joseph C. Calio III, Vice President of Sales and Marketing of Lithium Technology, 610-940-6090, Ext. 129, or jcalio@lithiumtech.com; or Stanley Wunderlich, Corporate Development Consultant, 800-625-2236, or fax, 516-625-4523, or cfsg@iname.com, for Lithium Technology WEB PAGE: lithiumtech.com GEOGRAPHY: Pennsylvania INDUSTRY CODE: CPR CHM SUBJECT CODE: FNC *** end of story ***