To: Rory McLeod  who wrote (5995 ) 10/31/2003 10:40:43 AM From: Rory McLeod     Read Replies (1)  | Respond to    of 6016  FCEL Stockholders approve acquisition .... FuelCell Energy, Inc. Shareholders Approve Acquisition of Global Thermoelectric, Inc. Friday October 31, 10:25 am ET  DANBURY, Conn., Oct. 31 /CNW/ -- FuelCell Energy, Inc. (Nasdaq: FCEL - News) announced today that its shareholders have approved the acquisition of Global Thermoelectric Inc. (TSX: GLE - News). The acquisition is contingent upon the approval by Global Thermoelectric's shareholders (special meeting scheduled for 10:00 AM today, Calgary time), a final order from the Alberta Court of Queen's Bench (meeting scheduled for 2:00 PM today, Calgary time) and the consummation of the transaction scheduled for November 3, 2003. About FuelCell Energy, Inc. FuelCell Energy, Inc., based in Danbury, Connecticut, is a world leader in the development and manufacture of highly efficient hydrogen fuel cells for clean electric power generation, currently offering DFC power plant products ranging in size from 250 kilowatts to 2 megawatts for applications up to 50 megawatts. The Company has developed commercial distribution alliances for its carbonate Direct FuelCell technology with MTU CFC Solutions GmbH, a company of DaimlerChrysler AG, in Europe; Marubeni Corporation in Asia; and Caterpillar, PPL Energy Plus, Chevron Energy Solutions and Alliance Power in the U.S. FuelCell Energy is developing Direct FuelCell technology for stationary power plants with the U.S. Department of Energy through its Office of Fossil Energy's National Energy Technology Laboratory. More information is available at www.fuelcellenergy.com. This press release contains forward-looking statements, including statements regarding the Company's plans and expectations regarding the development and commercialization of its fuel cell technology. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause such a difference include, without limitation, the risk that commercial field trials of the Company's products will not occur when anticipated, general risks associated with product development, manufacturing, changes in the utility regulatory environment, potential volatility of energy prices, rapid technological change, and competition, as well as other risks set forth in the Company's filings with the Securities and Exchange Commission. The forward-looking statements contained herein speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based. For further information Steve Eschbach, CFA, FuelCell Energy, Inc., +1-203-825-6000, seschbach@fce.com