The Conference, sponsored by the Knowledge Foundation, is an internationally recognized summit that brings together technology experts from around the world to assess and evaluate the most recent innovations and technological developments in small fuel cells for portable applications.

Alan Soucy, Chief Operating Officer of MTI Micro will deliver a presentation on Thursday, May 6, 2004, at 2:00 p.m. EDT. The presentation will include an overview of the opportunity for improved power in the portable electronics market and the need for multi-company partnerships to deliver a total fuel cell solution for commercial success.

Dr. Shimshon Gottesfeld, Chief Technology Officer of MTI Micro, will be speaking on Friday, May 7, 2004, at 9:45 a.m. EDT. Dr. Gottesfeld's presentation will consist of a comparative evaluation of rechargeable batteries, DMFCs and other portable fuel power sources, as well as highlights of recent technological advancements in the development and commercialization of DMFCs at MTI Micro.

In addition, MTI Micro's Vice President of Product Development, Juan Becerra, is scheduled to present at the Future SmartPhone Power Management Conference which runs from May 10 - 13 at the DoubleTree Hotel in Bellevue, WA.

The goal of this event, sponsored by the International Wireless Packaging Consortium (IWPC), and hosted by Microsoft, is to bring representatives from the portable wireless industry supply chain together with Microsoft experts who are designing the future SmartPhone, to explore the needs and technologies to support current and future portable mobile wireless requirements.

Mr. Becerra's presentation, which is scheduled for Tuesday, May 11, 2004, at 1:45 p.m. PDT, will be an overview of the opportunities for the development and integration of direct methanol fuel cells (DMFCs) into mass markets consumer electronics.

Visit www.knowledgefoundation.com for information on the 2004 Small Fuel Cells conference, and http://www.iwpc.org for additional details on the IWPC conference.

About MTI MICRO

MTI MicroFuel Cells Inc., a subsidiary of Mechanical Technology Inc., (Nasdaq: MKTY), is developing and commercializing proprietary direct methanol micro fuel cell systems. MTI Micro has announced plans to ship its first product towards the end of 2004. The Company 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. For more information: www.mtimicrofuelcells.com

Statements in this press release which are not historical fact including statements regarding managements intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include statements regarding market entry and target dates. It is important to note that the Company's actual results may differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, among others, risks related to financing, uncertainties in development, manufacturing, competition, and consumer demand for DMFCs, and the risk factors listed from time to time in the company's SEC reports including but not limited to, the annual report on Form 10-K for the year ended December 2002 and Quarterly Reports on form 10-Q.