Ener1 CEO Interviewed on CEOCast

Highlights Strategy to Penetrate Hybrid and Electric Car Market and

New Nanotechnology Subsidiary

Apr 20, 2004, 01:00 ET from Ener1, Inc.

    FT. LAUDERDALE, Fla., April 20 /PRNewswire-FirstCall/ -- Kevin P.
 Fitzgerald, Chairman and Chief Executive Officer of Ener1, Inc.
 (OTC Bulletin Board:   ENEI) (www.ener1.com), an emerging leader in the
 development of advanced lithium batteries and fuel cell technologies, told
 CEOCast, a web-based financial site, that Ener1 is positioned to "play in both
 the hybrid market and electric car market."  Ener1's high discharge lithium
 batteries have immediate applications for gas-electric hybrid cars, and the
 company is developing a complete fuel cell solution for the future electric
 car market.
     Fitzgerald said corporate milestones investors should watch for over the
 next nine months include strategic partnerships in the automotive and
 industrial industries that will validate Ener1's technology and generate
 revenue long-term. He added that the company's manufacturing facility, which
 will produce high-discharge lithium battery cells for military and industrial
 markets, will be fully operational by year's end.
     Fitzgerald also commented on the company's new subsidiary NanoEner, Inc,
 which was recently formed to develop new markets and applications for Ener1's
 proprietary nanomaterial manufacturing technologies. Ener1 currently uses its
 nanotechnology in the development of nanostructure electrodes that enable
 batteries to have extremely high discharge rates and extended cycle life. For
 more information on NanoEner, visit www.nanoener.com.
     To listen to the complete interview on CEOCast, log on to www.ceocast.com.
     About Ener1, Inc.
     Ener1, Inc. (OTC Bulletin Board:   ENEI.OB) develops and markets new
 technologies and products for clean, efficient energy sources including high-
 energy lithium batteries, fuel cells and solar cells. Ener1's technologies and
 products have applications for military, industrial and consumer markets,
 ranging from lightweight battery packs for military field use and high-end
 consumer applications to fuel cells and high-rate lithium-ion batteries for
 electric vehicles. For more information, visit the company's Web site at
 http://www.ener1.com or call (954) 556-4020.
     Safe Harbor Statement (ENER1, Inc.)
     This release contains forward-looking statements within the meaning of the
 Federal Private Securities Litigation Reform Act of 1995 conveying
 management's expectations as to the future based on plans, estimates and
 projections at the time the statements are made.  The forward-looking
 statements contained in this press release include statements related to
 Ener1's plans for NanoEner Inc. and the development of new markets and
 applications for its nanomaterials manufacturing technologies. These forward-
 looking statements involve risks and uncertainties, including, but not
 necessarily limited to, Ener1's ability to successfully develop and market its
 proposed products and services, the degree of competition in the market for
 Ener1's products and services, Ener1's history of operating losses, the lack
 of any operating history for Ener1's development stage battery and fuel cell
 business, the potential need for additional capital and Ener1's dependency
 upon key personnel. These and other risks are detailed in Ener1's annual
 report on Form 10-KSB for the year ended December 31, 2003, as well as in its
 other filings from time to time with the Securities and Exchange Commission.
 These risks and uncertainties could cause actual results or performance to
 differ materially from any future results or performance expressed or implied
 in the forward-looking statements included in this release. Ener1 undertakes
 no obligation to publicly update or revise any forward-looking statements,
 whether as a result of new information, future events, or otherwise.
      Media Contact:
      Alys Daly
      Ener1, Inc.
      954-556-4020 ext. 319

SOURCE Ener1, Inc.