Ballard Encourages Shareholders to Vote Their Shares

January 7, 2008

ISS Recommends Ballard Shareholders Vote FOR Resolutions in Relation to Sale of Certain Automotive Fuel Cell Assets  

Ballard Power Systems (TSX: BLD)(NASDAQ: BLDP) today announced that Institutional Shareholder Services (“ISS”), the leading independent proxy advisory firm for institutional investors involved in proxy voting matters, has issued a report recommending that shareholders vote FOR the ordinary resolution regarding the sale of Ballard’s automotive fuel cell assets to Daimler AG (“Daimler“) and Ford Motor Company (“Ford”). In addition, ISS recommends shareholders vote FOR the special resolution amending Ballard’s articles to cancel Class A and Class B shares, which give Daimler and Ford specific rights. In recommending a vote FOR the ordinary resolution, ISS points out in its report that the proposed transaction will transfer considerable investment burden associated with automotive technology research onto Daimler and Ford, and will permit Ballard to focus on commercial operations in non-automotive segments. ISS states that it does not feel there will be any adverse impact on shareholder value and, as a result, supports the transaction.

In recommending a vote FOR the special resolution, ISS concludes in its report that shareholders’ interest is best served by simplification to a single class of shares with uniform rights and therefore ISS supports this proposal.

A special meeting of Ballard Power System’s shareholders will be held at 10:00 a.m. (Pacific time) on January 25, 2008 at the Westin Bayshore Hotel, 1601 Bayshore Drive, Vancouver, British Columbia. Ballard encourages all shareholders to cast their votes promptly, according to the directions contained on their proxy card or voting instruction form, to ensure that votes are counted in the tabulation prior to the special meeting. If shareholders have questions about the resolutions or need assistance voting their shares, they may call D.F. King & Co., Inc., who is assisting the Company in the solicitation, toll-free at 1-888-887-1266 (North America) or collect at (212) 269-5550.

Ballard has filed a Management Information Circular relating to its January 25, 2008 special meeting of shareholders with the appropriate Canadian and U.S. securities regulators. This document is available on, and on Ballard’s website, Shareholders are urged to read the Management Information Circular and all documents referenced in the Management Information Circular, as they contain important information.

About Ballard Power Systems

Ballard Power Systems (TSX: BLD)(NASDAQ: BLDP) is recognized as a world leader in the design, development, manufacture and sale of zero-emission hydrogen fuel cells. Ballard’s mission is to make fuel cells a commercial reality. To learn more about what Ballard is doing with Power to Change the World®, visit


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