Lithium Technology Corporation's Chief Executive Officer Issues Letter to Stockholders

    PLYMOUTH MEETING, PA., December 5 /CNW/ - In a letter to company
stockholders issued today, Dr. Klaus Brandt, chief executive officer of
Lithium Technology Corporation (LTC) (OTC: LTHU) stated the following:

    Dear Shareholders,

    It has been four months since I addressed all of you; four months that
LTC has achieved great progress in all fields. In this letter, I wish to
communicate some of our achievements. Due to the confidential nature of our
development work with some of our clients, I will avoid mentioning their

    On November 28th we filed our restated financials for the year 2004 and
audited financials for 2005. This effort required a great deal of resources
and took a long time to complete due to the complexity in evaluating our past
financing transactions. Additionally, the management team decided to write off
almost all the intangible assets in 2004. We have posted an increase in loss
of more than $19 million in 2004, but it is all related to non-cash
adjustments. We are working relentlessly to complete the audit of 2006 and the
subsequent quarters of 2007. As CEO of the Company, I strive to steer the
Company in the direction that will create the most value in the future, and
all actions we took in this restatement and audit were guided by this

    Last week we completed another round of equity financing of approximately
$8 million that was priced at market. We are in discussions with a few
entities to secure financing for our expansion plans in new production plants.
As a Company, we will need to supply the rapidly growing demand.

    Our business is advancing fast, and we are positioning our Company as a
leading player in the market of large lithium-ion batteries. Our clients,
ranked as top technology companies in the fields of transportation, defense
and stationary power, are coming to the realization that there are only a few
"real" battery companies. I always say, "It does not matter what you say about
your battery, but what your battery says about you." Some of our competitors
are better than us in public relations and marketing, but this is not what the
customers are looking for. We supply them with a superior product that meets
their needs. Today, we are talking to tier-one suppliers in the US to secure
supply contracts for the US car manufacturers of hybrid electric vehicles
(HEV). In Europe, we are talking directly to large car manufacturers about
supplying batteries for HEV's and for standard Starting Lighting and Ignition
(SLI) applications. The move to replace the lead acid battery with a
lithium-ion battery for SLI applications is done for performance vehicles due
to its reduced weight and for luxury vehicles due to its higher energy

    Recently, we were invited by the German Government and the German
Association of the Automotive Industry (VDA) to participate in a bid to
advance the battery development for automotives in Germany. LTC, through its
subsidiary GAIA, is the only producer of large lithium-ion cells and batteries
in Germany.

    This week, we are presenting at the EVS 23 conference in Anaheim, CA as
the company that offers the largest lithium-ion iron phosphate battery cells
available today. As such, we are generating additional interest from niche
vehicle manufacturers, analysts and media.

    I know that for some of you, our actions are not always understood, but I
want to assure you that the management team of the Company is fully committed
to the success of LTC and its shareholders. We are focused on building a
large, strong and profitable company and on maximizing value to our


    Dr. Klaus Brandt
    Chief Executive Officer
    Lithium Technology Corporation

    About Lithium Technology Corporation:

    Lithium Technology Corporation (LTC) is a global provider of large format
rechargeable power solutions for diverse applications, and offers the largest
lithium-ion cells with the highest power of any standard commercial lithium
ion cell produced in the western hemisphere. With more than 30 years of
experience, LTC leverages its extensive expertise in high power and large
battery assemblies to commercialize advanced lithium batteries as a new power
source in the military and national security systems, transportation and
stationary power markets.

    LTC manufactures the GAIA(R) product line of large, high power
hermetically sealed rechargeable lithium-ion cells and batteries. The
Company's product portfolio includes large cells and batteries from 10 times
the capacity of a standard laptop computer battery to 100,000 times greater.
LTC manufactures a variety of standard cells that are assembled into custom
large batteries complete with electronics (battery management systems) and
electronics to communicate with other components of the system for performance

    LTC headquarters are located in Plymouth Meeting, PA and R&D in
Nordhausen, Germany. LTC sales for the U.S. and European markets are managed
out of each of the offices. For more information about LTC, its technology and
products, please visit

    Safe Harbor for Forward-looking Statements:

    The foregoing information contains forward-looking statements, which
involve risks and uncertainties relating to such matters as financial
performance, technology development, capital raising, business prospects,
strategic partnering and similar matters. A variety of factors could cause
LTC's actual results and experience to differ materially from anticipated
results or other expectations expressed in these forward-looking statements.
This notice does not constitute an offer of any securities for sale.

For further information:

For further information: Lithium Technology Corporation Amir Elbaz,

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