Mr. Phelan was a founder and Chief Executive Officer of OneMade, Inc., a company recently sold to America Online (AOL). In addition, Mr. Phelan served as a member of the Board of Directors of Florists' Transworld Delivery (FTD), the largest floral services organization in the world, where he was instrumental in reorganizing the company, providing both strategic direction and operational oversight. He has also held numerous executive positions at Fleet Equity Partners, Cowen & Company, and UHY Advisors Inc., formerly Urbach Kahn & Werlin, PC. Mr. Phelan has a B.A. in Accounting and Finance from Siena College, and an M.S. in Taxation from City College of New York.

Mr. Marusak is President of Comfortex Corporation, an internationally recognized manufacturer of window blinds and specialty shades. He is also the current Chairman of New York's Capital Region Center for Economic Growth. In 1997, he was appointed by Governor George Pataki, and then confirmed by the New York Senate as a Director for the New York State Energy and Development Authority (NYSERDA) and continues to serve on its board.

Mr. Marusak has also represented the interests of small/medium size manufacturing businesses of New York as a delegate at the White House. He is currently a member of the Advisory Board of Directors for Key Bank of New York, Dynabil Industries Inc., Clough Harbour Associates Technology Services Company of Albany. Mr. Marusak received a B.S. in Engineering from Pennsylvania State University, and an M.S. in Engineering from Stanford University.

"We are privileged to add these outstanding executives to MTI's Board of Directors," said Steven Fischer, Chairman and Chief Executive Officer of MTI. "Both Bill Phelan and Tom Marusak are talented and experienced entrepreneurs who bring extensive financial, technical and operational knowledge and experience. Having developed a number of very successful businesses, both will be important resources as we grow our micro fuel cell and instrumentation operations."

With the Company's appointment of Mssrs. Phelan and Marusak to its Board of Directors, the Company complies with the Nasdaq Stock Market's ("Nasdaq") independent director and audit committee requirements as set forth in Nasdaq Marketplace Rule 4350.

About MTI

MTI is primarily engaged in the development and commercialization of award winning Mobion(TM) cord-free advanced portable power systems, through its subsidiary MTI MicroFuel Cells Inc. (MTI Micro). MTI Micro has a world-class team of entrepreneurial business executives, researchers and scientists; a proprietary direct methanol micro fuel cell power system and a number of system prototypes demonstrating size reductions and performance improvements; significant related intellectual property; and has received government awards and developed strategic partnerships to help accelerate commercialization. MTI is also engaged in the design, manufacture, and sale of high-performance test and measurement instruments and systems through its subsidiary MTI Instruments, Inc. For more information about the company please visit http://www.mechtech.com.