April 14, 2003

PRESS RELEASE

AMERICAN ELEMENTS ANNOUNCES DEVELOPMENT OF NEW LINE OF PEROVSKITE MATERIALS

[April 14, 2003, Los Angeles, CA] American Elements announced today the launch of and commercial availability of a new product group of perovskite structured powders and screen printable inks.

The new line of perovskite structures are designed to meet the growing needs of solid oxide fuel cell (SOFC) developers and researchers. American Elements production capabilities allows it to provide structures with doping on both the “A” and “B” sites and production of oxygen starved forms. This is of great value to SOFC cathode developers who may require multiple versions of the same basic structure to test the benefits of changes to balances and doping levels.

American Elements is a Los Angeles based global manufacturer and developer of engineered and advanced materials with the world’s largest industrial catalogue of rare earth materials accessible electronically at www.americanelements.com. For further information on the new Chinese rare earth tax rates, please contact your local American Elements distributor or American Elements U.S. corporate headquarters at (1)310-208-0551, FAX (1)310-208-0351 or customerservice@americanelements.com.