Joint effort focuses on developing advanced fiber-based applications to enhance performance, improve durability, and reduce costs of fuel cells

Milan / Cambridge, Mass., / Belgium, October 3, 2002 – Nuvera Fuel Cells, a leading designer and developer of fuel cell power systems, and Bekaert S.A., a world leader in advanced metal transformation and coating technologies, today announced an agreement to develop new components to improve the functionality of proton exchange membrane (PEM) fuel cells. The joint effort will involve developing innovative applications using metal fibre media produced by Bekaert Fibre Technologies, a divisionof Bekaert Advanced Materials. The new components subsequently will be integrated with Nuvera's proprietary technology, resulting in a lower-cost fuel cell stack with enhanced performance and improved durability.

According to the agreement, development efforts for the multi-phase program will commence immediately and extend over a 15-month period. The companies will work together to identify prospective applications with strong technical characteristics. Bekaert will then produce sample prototypes, and Nuvera will test the samples to measure their performance against state-of-the-art materials in use today. At the conclusion of the development effort, the companies will address potential supply arrangements for commercialising the new product.

About Bekaert
Bekaert Fibre Technologies is part of Bekaert Advanced Materials and specialises in the development, manufacturing, and marketing of ultra-thin metal fibres and metal fibre products. Bekaert Advanced Materials is a business unit of the Bekaert Group (www.bekaert.com), the world leader in advanced metal transformation and coating technologies, headquartered in Belgium, with more than 90 production locations employing more than 17,000 people and with total sales in 2001 of 2.8 billion euros.

About Nuvera
Nuvera Fuel Cells (www.nuvera.com) is a leading designer and developer of fuel cell power systems, fuel processors, and fuel cell stacks for the automotive, distributed generation, commercial, and industrial markets. Since 1992, its fuel processors and PEM fuel cell stacks have been successfully tested and evaluated by major automobile and appliance manufacturers, research institutions, telecommunications organizations, and industrial and energy companies. Nuvera's fuel processors have demonstrated the ability to extract hydrogen from a number of liquid and gaseous fuels, including gasoline, ethanol, methanol, natural gas, kerosene, propane, butane, home heating oil, and diesel.

Contact
Robert Derby
Director, Marketing Communications
Nuvera Fuel Cells
Tel: +1-617-245-7571
Fax: +1-617-245-7571
Cell: +1-508-254-9668
Email: derby.r@nuvera.com

Willy Snaet
VP Corporate and Corporate Secretary
N.V. Bekaert S.A.
President Kennedypark 18
B-8500 Kortrijk
Tel. +32/56/23.05.11 / Fax +32/56/23.05.48
Email: willy.snaet@bekaert.com