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September 6th, 2005

Ener1 Inc. Plans to Spin Off Business Units

Abstract:
Ener1, Inc. announced today that its board of directors has authorized a plan to spin-off the common stock of its three primary alternative energy subsidiaries to the Ener1 stockholders. The Ener1 board believes that each of EnerDel, NanoEner and EnerFuel has made significant progress in developing their technologies and business strategies such that each of these companies could successfully achieve its business plan as a stand-alone company.

Source:
prnewswire

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