PRESS RELEASES

POLYFUEL RECEIVES COMPUTERWORLD HONORS MEDAL OF ACHIEVEMENT
Award Validates PolyFuel's Achievements in Micro Fuel Cell Research and Development

MOUNTAIN VIEW, Calif. – June 4, 2003 – PolyFuel, a leading provider of catalyst coated membrane technology for portable fuel cell systems announced today that it was awarded a Medal of Achievement in the 2003 Computerworld Honors Program. PolyFuel President and CEO Jim Balcom accepted the award on behalf of PolyFuel at the June 2nd award ceremony held in Washington D.C. PolyFuel was one of six finalists in the Environment, Energy and Agriculture category.

"We are honored to receive this prestigious award and to be recognized for our work in the field of micro fuel cell technology," said Jim Balcom, President and CEO of PolyFuel. "Micro fuel cell technology is the key to enabling portable power systems that will deliver unlimited, unplugged runtimes for mobile computing and numerous other applications."

PolyFuel's case study is now a part of the 2003 Honors Collection which consists of more than 300 case studies in ten categories from 33 countries. The 2003 Collection, which will now be archived in libraries, museums and academic and research institutions around the world, will serve as the primary source material for scholars and others who hope to use information technology to build solutions that benefit society.

Established in 1988, the Computerworld Honors Program brings together the chairmen or chief executive officers of the foremost information technology companies in the world and the world's leading universities, libraries and research institutions to document the global revolution of information technology. The program is intended to recognize individuals, organizations and institutions who have demonstrated vision and leadership as they strive to use information technology in innovative ways.

About PolyFuel

Direct methanol fuel cell (DMFC) systems with their hot swappable fuel cartridges will satisfy consumer demands for longer runtimes in numerous portable devices such as laptop computers. PolyFuel's patented catalyst coated membrane will enable DMFC systems to be smaller, lighter, quieter, less expensive and more robust than competing long runtime power supply technologies. PolyFuel also has world-class fuel cell systems technology as evidenced by its prototype fuel cells developed for mobile phones and laptop computers. This systems expertise, which provides the company with critical real-world direction for the development of its membrane technology, is also available as a service for customers seeking support for the integration of the PolyFuel membrane in their systems. Spun out from SRI in 1999 and based in Mountain View, Calif., PolyFuel is privately held and venture-funded by Mayfield, Ventures West, Technology Partners, Intel Capital, and Chrysalix Energy. For more information, please visit www.polyfuel.com or call (650) 429-4700.

PolyFuel Public Relations Contact:
Christian DeNike
Prequent Inc.
(408) 307-1236
christian@prequent.com