ENGLEWOOD, Colo. & WEST PALM BEACH, Fla.--Equitex, Inc. (NASDAQ: EQTX) announced today that Hydrogen Power, Inc. ("HPI") will present information about its patented hydrogen generation technology at the World Hydrogen Technologies Convention 2005 ("WHTC 2005") in Singapore on October 5, 2005.

On September 14, 2005, Equitex announced the signing of a definitive binding agreement for the acquisition of HPI by Equitex. Closing of the transaction is subject to normal conditions including approval by Equitex's stockholders in a meeting to be held at the earliest possible time.

HPI is a Seattle-based company which has licensed a patented technology developed at the University of British Columbia for producing hydrogen gas in a process called Hydrogen Now(TM). The HPI Hydrogen Now patented system creates pure hydrogen from the reaction of aluminum and any type of water, including sea water. The process safely generates pure hydrogen by a water-split reaction -- providing increased access to hydrogen. Hydrogen Now can be used to generate hydrogen on-site and on-demand without electricity thus overcoming significant transportation and storage problems. The HPI process has the potential to supply hydrogen at customized rates and pressures.

Ms. Ricky Gujral, President and C.E.O. of HPI, has been invited to give a presentation to attendees of the Convention regarding HPI's Hydrogen Now system. The WHTC 2005 is the first of a series of biennial conferences focusing on the commercial and business aspects of the hydrogen-related technologies.

Equitex, Inc. is a holding company operating through its majority-owned, publicly traded subsidiary FastFunds Financial Corporation (OTCBB: FFFC) of Minnetonka, Minnesota, as well as its majority-owned subsidiary Denaris Corporation. FastFunds, through its operating subsidiary Chex Services, Inc., provides comprehensive cash access services to Native American and traditional casinos, other gaming facilities and retail establishments. Denaris was formed to provide stored value card services.