First Albany Corporation Equities Initiates Coverage Of Electric Fuel Corporation

Strong Buy recommended on zinc air battery manufacturer.

Published: 21-Dec-2000

ISELIN, N.J., Dec. 20 /PRNewswire/ -- Electric Fuel Corporation (Nasdaq: EFCX) announced today that First Albany Corporation has initated research coverage of the Company with a Strong Buy recommendation.

First Albany Companies Inc. (Nasdaq: FACT), through its subsidiary, First Albany Corporation (First Albany), conducts investment banking and brokerage activities, principally in New York and Massachusetts, which include securities brokerage for individual and institutional customers, and market making and trading of corporate, government and municipal securities. First Albany also underwrites and distributes municipal and corporate securities, provides securities clearance activities for other brokerage firms and offers financial advisory services.

About Electric Fuel Corporation

Electric Fuel Corporation (http://www.electric-fuel.com), with corporate and sales offices in New Jersey and London, England, and manufacturing and R&D facilities in Israel and Alabama, is a world leader in primary and refuelable Zinc-Air fuel cell technology, pioneering advancements in consumer electronics, electric vehicles, and defense and safety products. Electric Fuel's popular line of Instant Power(TM) disposable batteries for cellular telephones are based on the Company's patented, cutting-edge Zinc Air fuel cell technology. The batteries, which come fully charged and ready to use right out of the pack, provide consumers with up to five times more talk and stand-by time when compared with conventional batteries. Instant Power(TM) disposable batteries are currently compatible with select models of Ericsson, Motorola, Nokia and Samsung cellphones and are on sale at retail outlets throughout the United States, Europe and Israel. Electric Fuel also recently announced plans to sell a new Instant Power(TM) universal powerpack charger for cellphones and PDAs that will let wireless users keep talking or working, even as their rechargeable battery runs down.

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