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cintrix

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cintrix

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Wednesday, 11/15/2006 8:07:04 AM

Wednesday, November 15, 2006 8:07:04 AM

Post# of 72830
LTHU Lockheed Martin Awards Lithium Technology Corporation With ATLAS V Battery Contract
Business Wire - November 15, 2006 8:00 AM (EDT)

PLYMOUTH MEETING, Pa., Nov 15, 2006 (BUSINESS WIRE) -- Lithium Technology Corporation ("LTC") (OTC: LTHU), a global provider of large lithium-ion rechargeable power solutions, announced today that it has received a purchase order from Lockheed Martin for 1070 ultra high power lithium-ion cells to be used for the ATLAS V Launch Vehicle. The order is valued at $171,200.

LTC leverages its unique and proprietary technology, to provide state-of-the-art lithium-ion cells with superior performance at extreme conditions. The cells in development for Lockheed Martin each have a nominal capacity of 7.5Ah and can deliver 500A pulses.

"Due to the demanding requirements of their applications, Lockheed Martin conducted an extensive series of testing on our cells and was impressed with the consistent high-power performance," said Dr. Andrew J. Manning, president and chief operating officer of LTC.

Lockheed Martin first contracted LTC in 2004 to evaluate the company's Commercial Off-The-Shelf (COTS) cells in an initiative to upgrade the batteries being used for the ATLAS V Launch Vehicle. In order to meet Lockheed's stringent requirements, LTC enhanced their standard cells. The prototypes were extremely successful and, as a result, Lockheed Martin is proceeding into a full qualification effort intended to certify the cells for flight on the Atlas V. The purchase order for over 1,000 of these special ultra power cells will be delivered to Lockheed by January 2008.

"This is a strategic step in growing our business and represents a major opportunity for LTC," commented Manning. "Lockheed Martin has numerous applications for both high-power and high-energy lithium-ion batteries in its aerospace programs and other systems integration projects. These applications require high reliability and enhanced performance, which are only available today in COTS cells from LTC."

The Lockheed contract affirms LTC's technology and its superiority in lithium-ion cell manufacturing. LTC's ultra high power cells, similar to the ones that Lockheed Martin ordered, retain low internal resistance from a fully charged to a fully discharged state, which allows a more robust performance and greatly reduces concern about heat generation for high pulse rate applications.

About Lithium Technology Corporation: Lithium Technology Corporation (LTC) is a global provider of large format rechargeable power solutions for diverse applications, and offers the largest lithium-ion cells with the highest power of any standard commercial lithium ion cell produced in the western hemisphere. With more than 30 years of experience, LTC leverages its extensive expertise in high power and large battery assemblies to commercialize advanced lithium batteries as a new power source in the military and national security systems, transportation and stationary power markets.

LTC manufactures the GAIA(R) product line of large, high power hermetically sealed rechargeable lithium-ion cells and batteries. The Company's product portfolio includes large cells and batteries from 10 times the capacity of a standard laptop computer battery to 100,000 times greater. LTC manufactures a variety of standard cells that are assembled into custom large batteries complete with electronics (battery management systems) and electronics to communicate with other components of the system for performance monitoring.

LTC headquarters are located in Plymouth Meeting, PA and R&D in Nordhausen, Germany. LTC sales for the U.S. and European markets are managed out of each of the offices. For more information about LTC, its technology and products, please visit http://www.lithiumtech.com .

Safe Harbor for Forward-looking Statements:

The foregoing information contains forward-looking statements, which involve risks and uncertainties relating to such matters as financial performance, technology development, capital raising, business prospects, strategic partnering and similar matters. A variety of factors could cause LTC's actual results and experience to differ materially from anticipated results or other expectations expressed in these forward-looking statements. This notice does not constitute an offer of any securities for sale.

SOURCE: Lithium Technology Corporation

The Red Consultancy
Allyson Curtis, 212-529-8474
allyson.curtis@redconsultancy.com

Copyright Business Wire 2006
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