Millennium Cell intends to file a resale registration statement with the Securities and Exchange Commission ("SEC") within the next thirty days for the common shares underlying the Series C Preferred, the warrants, and shares potentially issuable as dividends on the Series C Preferred in lieu of cash at our option. The offering was led by H.C. Wainwright & Co., Inc. of New York and funded by a group of accredited institutional investors.

H. David Ramm, Millennium Cell Chief Executive Officer, commented, "Today's announcement of this successful financing will enable us to further build on the recent momentum established in our business. With this additional capital and continued support from our commercial partners and federal government agencies, we look forward to realizing our goal of broad military and commercial availability of hydrogen batteries based on our technology."

Millennium Cell will file today with the SEC a Current Report on Form 8-K that sets forth the terms and conditions of the Series C Preferred and the related offering documents.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities mentioned here. The securities described in this release have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent an effective registration statement covering such securities or an applicable exemption from such registration requirements.

About Millennium Cell

Millennium Cell develops hydrogen battery technology through a patented chemical process that safely stores and delivers hydrogen energy to power portable devices. The borohydride-based technology can be scaled to fit any application requiring high energy density for a long run time in a compact space. The Company is working with market partners to meet demand for its patented process in four areas: military, medical, industrial and consumer electronics. For more information, visit http://millenniumcell.com.

About H.C. Wainwright & Co., Inc.

Founded in 1868, H.C. Wainwright is one of the oldest, private, independent investment banking firms in the United States. Based in New York, H.C. Wainwright specializes in a variety of investment banking activities, including public and private equity offerings, mergers and acquisitions, strategic advice, valuations and fairness opinions. For further information on H.C. Wainwright & Co., Inc. please visit http://www.hcwainwright.com/ 

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