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Microcap & Penny Stocks : Power Technologies, Inc. (PWTC - 3.75) -- Ignore unavailable to you. Want to Upgrade?

To: Jack Russell who wrote (353)	3/15/2001 2:28:30 PM
From: Jack Russell	Read Replies (1) \| Respond to of 366

Power Technology Signs Strategic Agreements in China and Begins Power Technology Signs Strategic Agreements in China and Begins Feasibility Study With The Shuang Deng Group Business Editors LAS VEGAS--(BUSINESS WIRE)--March 15, 2001--Power Technology, Inc. (OTCBB:PWTC - news) today announced that it has signed a Partnership Agreement with Peking University`s College of Chemistry and Molecular Engineering and PU Lead, a University invested manufacturer of Lithium-ion batteries, to further develop and research their highly significant new battery technology. Additionally, a Memorandum of Intention has been signed with The Shuang Deng Group, a leading Chinese manufacturer of special purpose Lead Acid Batteries, to create a Foreign Invested Joint Venture Company. This Company will be focused on developing, manufacturing, and selling products using Power Technology's proprietary battery technology both in China and Overseas. In order to evaluate the scope of the joint venture and its logistical implications leading up to an actual product launch, a feasibility study has been undertaken by both parties, results of which will be announced upon completion. China has continued to increase and enforce its very strict legislation forcing hundreds of thousands of atmosphere polluting two stroke and diesel vehicles from the center of most major cities. As the increasingly affluent, 1.3 billion people in China have become progressively more mobile, the threat of overwhelming pollution has grown exponentially. Already, huge numbers of Public Service vehicles have been converted to using propane and natural gas but as these vehicles reach the end of their economic use, electric vehicles are seen as the obvious and preferred replacement. This has created a recognized market for electric vehicle batteries such as Power Technology's. "The strong agreements we have established with China's leading applied electro-chemical scientists at Peking University as well as one of its most respected brand name battery manufacturers will not only add to our development and manufacturing, but open a very real market for Power Technology. We will now have a retail presence in all of China's Provinces, in addition to an established and successful marketing program and dedicated sales force," said Lee Balak, President of Power Technologies, Inc. "With China currently implementing further legislative efforts to curb its emissions problems, Beijing and its industry leaders are ready to implement a technology which they feel will benefit them the most, socially, environmentally and economically." "The timing for us is perfect," said Yang Shan Ji, The Shuan Deng Group's President. Power Technology, Inc is a Las Vegas-based technology development company, which holds several patents in the power generation and power storage fields, and is working to provide innovative and practical battery technology solutions for commercial, government, and industrial applications worldwide. For additional information, please contact Power Technology, Inc. Investor Relations: 1-800-773-7317 Note: Any statements released by Power Technology, Inc. that are forward-looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward-looking statements invoke risk and uncertainties that may affect the Company's business prospects and performances. These include economic, competitive, governmental, technological and other factors discussed in the statements and in the Company's filings with the Securities and Exchange Commission.Disclaimer: This transmission was intended only for the party or parties to whom it was directed. If you have received the transmission in error or by other means, it must be destroyed and by no means circulated, copied or otherwise duplicated without the express permission of its author(s). Nothing in the contents transmitted should be construed as an investment advisory, nor should it be used to make investment decisions. There is no express or implied solicitation to buy or sell securities. The author(s) may have positions in the stocks or financial relationships with the company discussed and may trade in the stocks mentioned. Readers are advised to conduct their own due diligence prior to considering buying or selling any stock. All information should be considered for information purposes only. No stock exchange has approved or disapproved of the information contained herein. --30--jam/clv* CONTACT: Power Technology, Inc., Las Vegas Investor Relations, 1-800/773-7317 KEYWORD: NEVADA INTERNATIONAL CHINA ASIA PACIFIC INDUSTRY KEYWORD: ENERGY EDUCATION MANUFACTURING MARKETING AGREEMENTS Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com