The Company's subsidiary, Hydrogen Power, Inc. ("HPI"), also announced today that it has developed a 30 watt portable reactor as part of its "Slow Release Program" allowing the Company to produce hydrogen utilizing its patented aluminum based water-split technology for applications replacing traditional batteries.

This slow release reactor affords HPI the ability to produce hydrogen utilizing its AlumiFuel(TM) proprietary technology at various release rates and wattage levels so that it may be integrated into fuel cell applications. According to a recent industry survey, fuel cells as battery replacements and auxiliary power units are projected to increase at an annual growth rate of approximately 25% in the five-year period ending in 2009. Additionally, the global demand for fuel cell products is estimated to reach $11 billion by 2013.

HPI believes its slow release technological breakthrough offers significant advantages over competing technologies in the areas of safety, weight, volume, low thermal signature and the benign environmental characteristics of the active and spent fuel.

HPI is in negotiations with system integrators for the technology to be incorporated into their fuel cells. The military market is anticipated to be the initial focus given their applications have historically been early adopters of new technology and the military is presently looking for inventive solutions for portable soldier power. HPI is continuing its work to optimize the technology for effective commercial application. 

Hydrogen Power International, Inc. (formerly Equitex, Inc.) is a holding company now operating through its wholly-owned subsidiary Hydrogen Power, Inc. of Seattle, Washington (www.hydrogenpowerinc.com) and its majority owned publicly-traded subsidiary FastFunds Financial Corporation  (FFFC) of Minnetonka, Minnesota. Hydrogen Power has licensed and has developed a patented technology for producing hydrogen gas in a process called Hydrogen Now(TM). FastFunds Financial recently sold a majority of its operating assets and currently has limited business operations.