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

To: Larry Brubaker who wrote (13587)	8/10/1999 11:17:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 27311

Larry, you got to admit that VLNC once more retreated from the $5.25, timidly, yet it bounced. What bothers me is the "calendar", the CC is in two days and I doubt that the spirited rally we got on the close today in the market in general will last much more than two hours in the morning. If VLNC got "the goods", it should hold its Maginot line, if it does not, we'll know soon enough. Zeev

To: Larry Brubaker who wrote (13587)	8/11/1999 8:22:00 AM
From: Chuck Lehman	Read Replies (2) \| Respond to of 27311

News Wednesday August 11, 09:03 AM Eastern time Company Press Release SOURCE:Valence Technology, Inc. Valence Technology Announces Expansion Of Its Northern Ireland Manufacturing Facility HENDERSON, Nev. and MALLUSK, N. Ireland, Aug. 11 /PRNewswire/ -- Valence Technology, Inc. (Nasdaq: VLNC), a developer of advanced rechargeable lithium polymer battery technology, today announced that the Industrial Development Board (IDB) of Northern Ireland has authorized funding of up to 1,800,000 Pounds Sterling (US 3.0 million) for the expansion of the company's lithium polymer battery manufacturing facility in Mallusk, Northern Ireland. The company's existing plant, which currently encompasses 80,000 sq. feet, will be expanded to accommodate the addition of a third coating line operation. Maintaining this third line will permit the company to improve the overall efficiency of its manufacturing processes. Additionally, the IDB has approved additional funding of 60,000 Pounds Sterling (US 100,000) per year for the next two years to be used to reduce the annual lease payment on a second building, totaling approximately 50,000 sq. feet. This building is located behind Valence's main manufacturing facility in Northern Ireland, and is currently subject to a lease -- purchase agreement. The second facility, which will provide the capacity needed to service future demand for the company's products, will make it possible for Valence to expand its extraction, conditioning and quarantine areas to accommodate anticipated increased battery production requirements. The agreement with the IDB provides for certain levels of investment recovery by the IDB, based on both employment levels in and commercial shipments from the Mallusk facility. "The expansion of our Northern Ireland manufacturing facility provides us with additional capacity for our films and finished battery capabilities. We believe that the Valence Lithium Polymer batteries which are manufactured in Northern Ireland will rapidly become the premier mobile energy solution for the coming digital age. We appreciate the IDB's support of our efforts and are very pleased with our continuing and successful relationship with them," commented Lev Dawson, Chairman, Chief Executive Officer and founder of Valence. A spokesman for the Industrial Development Board of Northern Ireland said, "The IDB's confidence in Valence, and the significant progress the company has made in commercializing its battery technology is reinforced by our continued support for the project. The expansion of Valence's facilities, and our commitment to assisting the company, is a positive sign of both the economic opportunities in the rechargeable lithium battery market and Northern Ireland's successful economic performance." About Valence Technology, Inc. With more than 400 battery patents awarded and pending, Valence Technology 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 March 28, 1999, to which readers are referred. --------------------------------------------------------------------------------