Ener1 Inc Selects Allen & Caron for Investor Relations

    FORT LAUDERDALE, Fla., March 14 /PRNewswire/ -- Ener1 Inc
 (OTC Bulletin Board:   ENEI), an energy-related technology company, announced
 that it has selected Irvine, CA-based Allen & Caron Inc as its investor
 relations agency.
     Ener1 Inc provides the required support and structure to transform
 emerging technologies into successful long-term market leaders.  It operates
 in three main sectors: Lithium Batteries, Fuel Cells and Nanotechnology
 Materials.  Ener1 focuses on companies that develop new solutions to address
 the needs of multi-billion dollar markets.
     Ener1 CEO Kevin Fitzgerald commented, "We have established considerable
 momentum over the past year.  Our business is continuing to grow, our market
 visibility is increasing and we have built a solid management team that has
 positioned us for additional expansion going forward.  As a result, we believe
 it is the appropriate time to launch a proactive and professionally executed
 investor relations program to deliver this message to the investment
 community.  Following an extensive review of a number of firms, we selected
 Allen & Caron because of its solid reputation and track record of successfully
 introducing fast growing companies to new and broader audiences of
 institutional investors and other investment community professionals."
     Allen & Caron Chairman and CEO Joe Allen said, "We are pleased to
 represent Ener1 Inc.  The Company has a sound business plan, a experienced
 senior management team, and is establishing itself rapidly as the market
 leader in its industry.  We will assist Ener1 in developing and executing an
 investor relations program designed to effectively communicate its business
 plan strategy, improve overall awareness among portfolio managers and analysts
 and, over time, enhance shareholder value."
     About Allen & Caron
     Allen & Caron is a full service corporate, investor and marketing
 communications agency serving the needs of public companies.  The Allen &
 Caron international client base includes emerging growth companies in a range
 of industry segments.  It maintains offices in Irvine, California, New York
 City and London, England.
     About Ener1 Inc
     Ener1 Inc develops and markets new technologies and products for clean,
 efficient energy sources.  Ener1 markets lithium batteries and battery packs
 through EnerDel, its majority-owned venture with Delphi Corp.  Ener1 also
 develops and markets nanotechnology-based materials and manufacturing
 processes and components through its NanoEner Inc subsidiary.  Ener1 develops
 selected fuel cell components and provides fuel cell related testing services
 through its EnerFuel Inc subsidiary.  Ener1's products have applications for
 markets that include power tools and industrial equipment, medical devices,
 hybrid vehicle propulsion and military communications.  For more information
 on Ener1's products, please visit its Web site at www.ener1.com or call
 (954) 556-4020.
     Safe Harbor Statement
     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 involve risks and uncertainties,
 including, but not necessarily limited to, the ability of Ener1 to
 successfully develop and market proposed lithium battery, fuel cell and
 nanotechnology-based products and services, the degree of competition in the
 markets for lithium battery, fuel cell and nanotechnology-based products and
 services, Ener1's history of operating losses, the lack of operating history
 for the development stage Ener1 businesses, the need for additional capital,
 the dependency upon key personnel, and other risks 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.
      Contact:  Joe Allen (investors)        Kevin Fitzgerald
                Allen & Caron Inc            Ener1 Inc
                212 691 8087                 954 556 4020
                joe@allencaron.com           kfitzgerald@ener1.com

SOURCE Allen & Caron Inc

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