Lod, Israel and New York, NY -- December 22, 2004 - Medis Technologies Ltd, (NASDAQ: MDTL) ("Medis") announced today, that with a welcoming address from the President of the State of Israel, the Honorable Moshe Katsav, Medis Technologies proudly opened its new facilities in the Global Park Technology Complex in Lod, Israel. Robert K. Lifton, Chairman and CEO of Medis Technologies, joined President Katsav in officially opening the new facility. Medis' Israel facility now consists of more than 34,000 square feet of space, modern laboratories, specifically designed pilot manufacturing capabilities, and modern office space design.
In President Moshe Katsav's address to an audience of approximately 200 people, which included employees of Medis, their families and other invited guests, President Katsav pointed out how important contributions of technologically innovative companies like Medis are to the expansion of business and employment in the State of Israel. Then, President Kastav, together with the Aid-Decamp to the President, General Shimon Hefetz, Moshe Keret, President and CEO of Israel Aircraft Industries, and Mr. Lifton were taken on a guided tour of the new facilities by Mr. Gennadi Finkelshtain, the Chief Technology Officer of Medis Technologies.
Mr. Lifton noted in his remarks that, "We are proud to share this milestone in the development of our Company with the President of the State of Israel. With this new modern facility we are prepared to enter the next stage of our program, to move to production and commercialization of our first products, the disposable Power Pack for advanced electronic devices, as well as our first military Power Pack applications for ruggedized hand held devices used by the US military."
Medis Technologies is involved in the development of highly advanced proprietary technology products primarily related to sources of clean energy for the 21st Century. Medis' primary focus is on direct liquid fuel cell technology. Its business strategy is to license or sell its technologies to, or enter into joint ventures with, large international corporations or sell its products to end users through retail outlets and service providers.
In addition to its fuel cell technology, Medis' product pipeline, in varying stages of development, includes inherently conductive polymers, the toroidal engine and compressor and stirling cycle system. Medis has also developed the CellScan with many potential applications relating to disease diagnostics and chemo sensitivity.
Photo: (from left to right): Mr. Gennadi Finkelshtain - Chief Technology Officer of Medis Technologies Ltd., the Honorable Moshe Katsav - President of the State of Israel, Mrs. Gila Katsav, Mr. Robert K. Lifton - Chairman and CEO of Medis Technologies Ltd., Mr. Moshe Keret - President and CEO of Israel Aircraft Industries Ltd.
For further information, please contact:
Medis El Ltd.
2 Yodfat Street, P.O. Box 1112
Global Park Lod 71291, Israel
Tel: 972 (8) 918-8600
Fax: 972 (8) 920-0024
Email: medistechnologies@broadviewnet.net
At IAI:
Doron Suslik
Deputy Corp. VP for Communications
Tel: 972 (3) 935-8509
Fax: 972 (3) 935-8512
Email: hpaz@iai.co.il