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

To: P. Ramamoorthy who wrote (26275)	3/24/2004 10:41:07 AM
From: P. Ramamoorthy	Read Replies (1) \| Respond to of 27311

One of several announcements regarding new product introduction and new markets as Stephan mentioned in the last conf call. Form factor, light weight, and safety give an advantage over the lead acid systems that will be replaced (product substitution) by VLNC UCharge systems. Sounds good! Ram ===================================================== Prees Release Source: Valence Technology, Inc. Valence U-Charge/TM/ Power System to Be Evaluated by Graham-Field Wednesday March 24, 9:35 am ET Saphion/R/ Technology Tested as Power Source for Wheelchairs AUSTIN, Texas--(BUSINESS WIRE)--March 24, 2004--Valence Technology, Inc. (Nasdaq:VLNC - News), a leader in the development and commercialization of Saphion® technology, the only safe large format Lithium-ion rechargeable battery technology, today announced that the U-Charge(TM) Power System will be evaluated by Graham-Field Healthcare Products, a major manufacturer and distributor of healthcare products. The Saphion-based U-Charge(TM) Power System will be assessed for use in power wheelchair products. The power mobility market is one of the fastest growing markets in the medical equipment sector. The U-Charge Power System is a direct replacement for the sealed Lead Acid battery systems currently available in the power mobility market. The U-Charge Power System delivers greater energy density and better reliability at a lower cost of ownership than Lead Acid batteries. The inherent safety of Saphion Lithium-ion technology enables the creation of a large format product, such as the U-Charge system, and eliminates safety and environmental concerns associated with other technologies. "We expect Saphion technology will have a significant impact on the mobility market for healthcare, which utilizes sealed Lead Acid batteries in a wide variety of applications," stated Stephan Godevais, chairman and CEO of Valence. "We believe the U-Charge Power System will enable Graham-Field to provide its wheelchair customers with power to be completely mobile for an entire day and in the end, facilitate a better quality of life." "We have been waiting a long time for a Lithium-ion technology that was safe enough to be manufactured in unique dimensions for our industry," Joe Ticer, Director of Mobility and Rehab of Graham-Field. "Saphion technology and the U-Charge product have the potential to be a true breakthrough for the mobility market and could impact all aspects of design and function for powered wheelchairs."