IMCO Impco Technologies (MM)

Quantum Receives Order From India OEM for Electronic Controllers IRVINE, Calif., Nov. 10 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc., announced today that it received an initial order for 800 electronic controllers from its strategic partner, IMPCO Technologies, Inc., Minda IMPCO unit based in Gurgaon, India . Minda IMPCO recently opened a manufacturing plant for a complete range of propane and natural gas systems for two-wheelers, auto rickshaws, cars, and buses. The electronic controllers recently purchased by Minda will be integrated into a range of vehicles slated for production in early 2004. (Logo: http://www.newscom.com/cgi-bin/prnh/20010320/QUANTUMLOGO ) "Quantum was spun-off from IMPCO Technologies in July 2002, at which time Quantum and IMPCO established a strategic alliance providing for IMPCO to distribute Quantum's electronic controls, fuel injectors for natural gas and propane applications and composite storage tanks for compressed natural gas applications. IMPCO has a significant worldwide distribution network and we look forward to working closely with IMPCO in the future," said Alan P. Niedzwiecki, Quantum's President and CEO. Quantum's gaseous fuel products business focuses on three main areas: Transportation, Stationary Power, and Refueling Infrastructure. The company manufactures both components and end products and is an OEM vehicle level systems integrator. In the Transportation sector, Quantum designs and supplies state-of-the-art fuel system technologies to many of the world's leading OEMs with Hydrogen systems for both Internal Combustion Engine (ICE) and Fuel Cell applications. For Stationary Power applications, Quantum currently supplies components and integrated systems to developers of fuel cell stationary power products and is working to expand its product portfolio in this area. In the area of refueling infrastructure, Quantum offers several hydrogen refueling systems focused on early infrastructure development for fuel cells, targeting fleets of 1 to 20 vehicles. Quantum is a Tier 1 automotive OEM supplier. Quantum's ultra-light weight composite fuel storage, fuel injection technologies, electronic control products and OEM level systems integration capabilities have enabled the company to develop a product portfolio with state-of-the-art technologies and products, a diverse customer base, and strong alliances with partners such as General Motors, Sumitomo Corporation and former parent IMPCO Technologies. Quantum is a member of the GM Global Fuel Cell Alliance of fuel cell commercialization companies. Quantum's web site: http://www.qtww.com/ . Except for historical information, the statements, expectations and assumptions contained in the foregoing press release are forward-looking statements. Such forward-looking statements include, but are not limited to, the company's expectations regarding revenues and cash from operations in future periods. Such statements are subject to a number of risks and uncertainties, and actual results could differ materially from those discussed in any forward-looking statement. Factors that could cause actual results to differ materially from such forward-looking statements include, among other factors, prevailing market conditions; the company's ability to design and market advanced fuel metering, fuel storage and electronic control products; the company's ability to meet customers' specifications; the success of the company's recently announced programs with strategic partners; the growth of the company's business in international markets. Reference should also be made to the risk factors set forth from time to time in the company's SEC reports, including but not limited to those contained in the section entitled "Risk Factors" in its Annual Report on Form 10-K for the fiscal year ended April 30, 2003. The company does not undertake to update or revise any of its forward-looking statements even if experience or future changes show that the indicated results or events will not be realized. For further information, please contact: John Williams Sr. Manager of Business Development +1-949-885-7566 Cathy Johnston Director of Communications and Corporate Support +1-949-399-4548 Dale Rasmussen Investor Relations +1-206-315-8242 (C)2003 Quantum Fuel Systems Technologies Worldwide, Inc. Advanced Technology Center 17872 Cartwright Road, Irvine, CA 92614 Phone 949-399-4500 Fax 949-399-4600 http://www.newscom.com/cgi-bin/prnh/20010320/QUANTUMLOGO http://photoarchive.ap.org/ DATASOURCE: Quantum Fuel Systems Technologies Worldwide, Inc. CONTACT: John Williams, Sr. Manager of Business Development, +1-949-885-7566, , or Cathy Johnston, Director of Communications and Corporate Support, +1-949-399-4548, , or Dale Rasmussen, Investor Relations, +1-206-315-8242, , all of Quantum Fuel Systems Technologies Worldwide, Inc. Web site: http://www.qtww.com/

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