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Electric Fuel Awarded Contract to Develop Prototype Batteries for Battlefield Drones

Company to exhibit at Unmanned Systems Symposium In Orlando, Fla, July 9 to July 11

July 8, 2002 — Electric Fuel Corporation (NasdaqNM: EFCX), the world's leading zinc-air fuel cell company, today announced it has received a contract to provide prototype zinc air batteries for battlefield drones. As a result, the Company plans to develop and produce advanced zinc-air batteries for other unmanned air vehicles (UAVs) and micro air vehicles (MAVs). The new batteries will provide the military's man-portable battlefield drones with longer range and flying time than existing battery alternatives.

Electric Fuel's solutions for UAVs and MAVs are high-power, lightweight versions of its most advanced zinc-air cells, which have specific energy of 400 Wh/kg.

The Company will showcase its high-energy and high-power capabilities at Unmanned Systems 2002, in Orlando, Fla., from July 9 to 11. The symposium and exhibition are sponsored by the Association for Unmanned Vehicle Systems International (AUVSI). For further information on the symposium, please visit the organization's website at

Electric Fuel President and CEO Yehuda Harats said, "We have achieved outstanding performance with our zinc-air technology. Today, Electric Fuel can offer the best solutions for many demanding applications. We intend to be an important provider of power solutions for the rapidly growing unmanned platform sector, as part of our overall strategy of expansion in the defense and security industry."

About Electric Fuel

With corporate and sales offices in New York and London, England, and manufacturing and R&D facilities in Israel and Alabama, Electric Fuel Corporation is a world leader in primary and refuelable Zinc-Air fuel cell technology, pioneering advancements in consumer electronics, electric vehicles, and defense and safety products. Electric Fuel's INSTANT POWER(TM) batteries and chargers are based on the Company's patented, cutting-edge Zinc-Air fuel cell technology, and are on sale at retail outlets throughout the United States, Canada, Europe and Israel. For more information on Electric Fuel, please visit our web site at , or find out more about our consumer products at .

Except for the historical information herein, the matters discussed in this news release include forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements, as they are subject to various risks and uncertainties that may cause actual results to vary significantly. These risks and uncertainties include, but are not limited to, risks relating to: product and technology development; the uncertainty of the market for Electric Fuel's products; market acceptance of new products and continuing product demand; the ability to manage growth and ramp-up production effectively as needed; the impact of competitive products and pricing on Electric Fuel's products and markets; changing economic conditions; delay, cancellation or non-renewal of purchase orders; significant future capital requirements; and other risk factors detailed in Electric Fuel's most recent annual report on Form 10-K for the fiscal year ended December 31, 2001, and other filings with the Securities and Exchange Commission. Electric Fuel assumes no obligation to update the information in this release. Reference to the Company's website above does not constitute incorporation of any of the information thereon into this press release.

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