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AFS Trinity and Ricardo to Develop Plug-In Extreme Hybrid[tm] Car

SEATTLE and LONDON, January 24, 2006 … An Extreme Hybrid™ car -- which plugs into house current from the power grid for most of its power and is expected to give the average driver more than 250 miles per gallon of gasoline -- moved closer to reality today according to news from AFS Trinity Power Corporation and the leading global automotive engineering firm, Ricardo.

AFS Trinity and Ricardo have agreed to work together to design, test and develop the Extreme Hybrid™ drive-train and build the initial systems that are expected to be licensed by AFS Trinity to carmakers worldwide. Dave Shemmans, CEO of Ricardo plc, said, “After the Extreme Hybrid™ is ready to be licensed to OEM’s, Ricardo intends to provide assistance to the world’s automakers integrating the XH™ plug-in hybrid drive train into their specific vehicular platforms.” Ricardo has 1750 engineers and consultants who serve the world’s automotive OEMs and tier one suppliers from design, testing and engineering facilities throughout Europe, US and Asia.

In related news, Edward W. Furia, Chairman and CEO of AFS Trinity, said, “The power electronics, ultra-capacitors, batteries, motors and other related advanced components that we will integrate with Ricardo’s help into the Extreme Hybrid™ drive train are all advancing rapidly and reducing in cost. Some of the components will come from third party vendors whom Ricardo will help us identify and vet, and other parts will come from previous AFS Trinity work on NASA, DOT, and DARPA government contracts and internal R&D programs. A truly practical and reliable plug-in hybrid technology is now emerging -- it’s called the Extreme Hybrid™ drive train and we are hopeful of seeing it on the road in the near future.”

Furia said Ricardo’s participation in development, system integration, testing and manufacturing “will take years off the time needed to take the Extreme Hybrid™ plug-in from a technical wonder to cars, SUV’s and trucks that consumers will find highly attractive.” Furia, one of the founders of AFS Trinity, was a Director of the first Earth Day and Earth Week in 1970 in Philadelphia. He was also the first Regional Administrator of the US EPA’s Middle Atlantic Office.

The Extreme Hybrid™’s extraordinary fuel economy derives from the fact that most of the time it will burn no gasoline at all – it will operate on electricity obtained from the power grid through night-time off-peak charging, but for trips longer than 40 miles, it will operate on its conventional hybrid power sub-system for up to 500 miles. There is also no reason why such vehicles could not eventually become completely petroleum-free by burning so-called bio-derived fuels such as ethanol instead of gasoline.

Regarding Ricardo’s decision to work with AFS Trinity, Dave Shemmans said, “We decided to enter into this technology partnership with AFS Trinity because we are of the view that the plug-in hybrid has the potential to become the next generation in hybrid vehicle development.”

Jeremy Holt, President of Ricardo, Inc., Ricardo’s North American subsidiary, headquartered in Detroit, said, “We are excited about this project, both because it represents the cutting edge in vehicular technology and because, given global energy supply and demand trends, we believe it is in the nation’s strategic interest to become less dependent on oil for transportation.”

About AFS Trinity

AFS Trinity Power Corporation is a privately-owned Delaware corporation headquartered in Bellevue, WA, that has engaged in the development of Fast Energy Storage™ power systems for vehicular, spacecraft and stationary power systems. The Company has conducted development programs with private and government organizations including DARPA, NASA, the U.S. Navy, U.S. Army, U.S. DOT, California Energy Commission, Oak Ridge National Laboratories, Lawrence Livermore National Labs, Lockheed and Honeywell. American Flywheel Systems, Inc (AFS) received the first patent ever given for a flywheel battery in 1992 and merged with Trinity Flywheel Power to create AFS Trinity Power in 2000. For more information, visit www.afstrinity.com.

About Ricardo

With its North American headquarters in Van Buren Twp., Mich., Ricardo has been a world-leading vehicle system and powertrain technology provider for automotive manufacturers, heavy-duty manufacturers and tier one suppliers since 1915. The company provides expertise ranging from designing and developing engines, transmissions and drivelines, to integrating vehicle systems and creating software solutions, to developing gasoline, diesel, hybrid and fuel cell technology. Ricardo is committed to excellence and industry leadership in people, technology and knowledge. A public company based in the U.K., Ricardo plc posted sales of $272 million in fiscal year 2005 and is a part of the FTSE techMark 100 index – a group of innovative technology companies listed on the London Stock Exchange.

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Some statements in this news release are forward-looking. These statements may be identified by the use of words such as "will," "expects," "believes," "targets," "intends," and words of similar import. Actual results may vary depending on circumstances both within and outside the control of the Company including market acceptance of products, technology development cycles and other risk factors. AFS Trinity Power Corporation takes no responsibility for updating any forward-looking statements made in this release.

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