New UN Model Transport Regulations to Include Millennium Cell Fuel Cartridges

July 12, 2006

EATONTOWN, N.J.–(BUSINESS WIRE)–July 12, 2006–Millennium Cell Inc. (NASDAQ:MCEL), a leading developer of hydrogen battery technology, announced today that new regulations for the commercial transport of sodium borohydride-based fuel cartridges for fuel cells were approved by the United Nations Subcommittee of Experts on the Transport of Dangerous Goods at its semi-annual meeting in Geneva last week. Formal ratification by the full UN Committee of Experts is scheduled for December.

The model regulations will be used by countries around the world to establish shipping requirements for fuel cartridges containing sodium borohydride. The new UN shipping name, number and packaging instructions also will assist international air transport authorities in developing regulations to allow passengers to carry and use these cartridges on-board airplanes.”This approval will provide our licensees a clearer and more definitive pathway for shipping hydrogen batteries in bulk or small quantities. This UN action is also a key next step in the approval process for in-cabin passenger use of hydrogen batteries, especially as we and our partners continue to design and develop these products for use in consumer electronics applications,” noted Adam P. Briggs, Millennium Cell President.

About Millennium Cell

Millennium Cell develops hydrogen battery technology through a patented chemical process that safely stores and delivers hydrogen energy to power portable devices. The borohydride-based technology can be scaled to fit any application requiring high energy density for a long run time in a compact space. The Company is working with market partners to meet demand for its patented process in four areas: military, medical, industrial and consumer electronics. For more information, visit http://millenniumcell.com.

Cautionary Note Regarding Forward-looking Statements:

This press release may include statements that are not historical facts and are considered “forward-looking” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Millennium Cell’s current views about future events and financial performance and are subject to risks. Forward-looking statements are identified by their use of terms and phrases such as “believe,” “expect,” “plan,” “anticipate,” “on target” and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from Millennium Cell’s expectations, and Millennium Cell expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to, the following: (i) the cost and timing of development and market acceptance of Millennium Cell’s hydrogen fuel storage and delivery system; (ii) the cost and commercial availability of the quantities of raw materials required by the hydrogen fuel storage and delivery systems; (iii) competition from current, improving and alternative power technologies; (iv) Millennium Cell’s ability to raise capital at the times, in the amounts and at the costs and terms that are acceptable to fund the development and commercialization of its hydrogen fuel storage and delivery system and its business plan; (v) Millennium Cell’s ability to protect its intellectual property; (vi) Millennium Cell’s ability to achieve budgeted revenue and expense amounts; (vii) Millennium Cell’s ability to generate revenues from the sale or license of, or provision of services related to, its technology; (viii) Millennium Cell’s ability to form strategic alliances or partnerships to help promote our technology and achieve market acceptance; (ix) Millennium Cell’s ability to generate design, engineering or management services revenue opportunities in the hydrogen generation or fuel cell markets; (x) Millennium Cell’s ability to secure government funding of its research and development and technology demonstration projects; and (xi) other factors discussed under the caption “Investment Considerations” in Millennium Cell’s Annual Report on Form 10-K for the year ended December 31, 2005.

Contact:

Investors:
Brod Group, LLC
Betsy Brod, 212-750-5800


Source: Millennium Cell Inc.

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