Enabling Competitive Fuel Cells-Merger between PEMEASandE-TEK

							Press Release                                         PEMEAS GmbH
                                                      Market
                                                                       Industriepark Höchst, G 864
                                                                       65926 Frankfurt am Main
                                                      Development      Germany

                                                                       Your contact:
                                                                       Dr. Carsten Henschel
                                                                       Telefon: +49 (0)69/305-4292
                                                                       Telefax: +49 (0)69/305-26600
Enabling Competitive Fuel Cells - Merger between                       Email: C.Henschel@Pemeas.com

PEMEAS and E-TEK Completed                                             Date: November 10, 2005




  (Frankfurt) – PEMEAS and Gruppo De Nora, Milan, have
completed the merger of their fuel cell components businesses.
De Nora has contributed its fuel cell business E-TEK into
PEMEAS and has in return received an equity stake in the
enlarged company.



  New supplier of enabling technologies and products

  The merger of E-TEK with PEMEAS creates a unique supplier of
enabling technologies and products to the rapidly growing fuel cell
industry. After having completed the merger, PEMEAS can now offer a
wide range of products that are crucial for high and low temperature
Polymer Electrolyte Membrane (PEM) fuel cells as well as for Direct
Methanol Fuel Cells. Through its technology and competitive pricing,
  PEMEAS will enable significant cost reduction with its customers.
PEMEAS continues the fuel cell businesses of the former Hoechst
Group and Gruppo De Nora. With approximately 50 employees the
company operates R&D and manufacturing facilities in Germany and
the U.S.A..
page: 2 of 3
Date: November 10, 2005




   Expanded product line for our customers

   With its Celtec products, PEMEAS is the only commercial supplier of
membrane electrode assemblies (MEAs) for high temperature PEM fuel
cells. Operating at 120 °C to 180 °C, those fuel cell systems require
fewer    components       leading   to   lower   capital   cost   and   improved
reliability.

   E-TEK is a leader in developing and manufacturing catalysts, gas
diffusion layers and electrodes for low and high temperature PEM fuel
cells as well as for DMFC. E-TEK will continue its fuel cell activities as
E                            .
“ -TEK - a division of PEMEAS”

   By   integrating   the    complementary       technologies,    the   enlarged
PEMEAS can offer a broad range of core products, enabling our
customers to produce fuel cell systems for all applications.



   Serving the fuel cell industry

   Virtually all PEM fuel cells and DMFC are based on catalysts, gas
diffusion electrodes and MEAs. PEMEAS is positioned to serve the fuel
cell industry with a unique product portfolio applicable to all major fuel
cell technologies.

   Many customers in the Americas, Asia and Europe are already using
product of PEMEAS to develop and commercialize fuel cell systems.
Initial commercial applications are expected in portable electronics,
backup-power units, auxiliary power units and stationary fuel cells.
Industry analysts predict significant future growth for these markets
creating major commercial opportunities for a leading supplier like
PEMEAS.
page: 3 of 3
Date: November 10, 2005


   PEMEAS GmbH is a global leader in catalysts, gas diffusion electrodes and
membrane electrode assemblies (MEAs) for polymer electrolyte membrane
(PEM) and direct methanol fuel cells (DMFC).
   PEMEAS is the only commercial supplier of high temperature MEAs that are
marketed under the brand name Celtec. The E-TEK division of PEMEAS offers
a broad range of catalysts, gas diffusion layers and electrodes, and MEAs for
low temperature PEM fuel cells and DMFC.
   PEMEAS continues the fuel cell activities of the former Hoechst Group and
Gruppo De Nora. PEMEAS shareholders are Conduit Ventures Limited, SAM
Private Equity, CDP Capital Technology Ventures, P/S BankInvest New Energy
Solutions, Celanese AG, Gruppo De Nora and Infraserv Hoechst.
   For further information visit: www.pemeas.com and www.etek-inc.com