Buy computer accessory online

Business Editors/High-Tech Writers

AUSTIN, Texas--(BUSINESS WIRE)--April 10, 2003

Valence Technology Inc. (Nasdaq:VLNC), a leader in the development and commercialization of Lithium-ion polymer rechargeable batteries, today announced that Best Buy Co. Inc. (NYSE:BBY), the number one specialty retailer of consumer electronics in the United States, has selected the N-Charge(tm) Power System as its standard notebook battery accessory.

The N-Charge system will be marketed and sold via Best Buy's online Web site.

"As a leading retailer, Best Buy offers the latest technology and products to meet the everyday computer and electronics needs of its extensive customer base," said Stephan Godevais, chairman and CEO of Valence. "Having the N-Charge system selected by Best Buy is a significant accomplishment for us as we continue to expand our distribution channels. We look forward to working with Best Buy and helping to provide its customers with a solution which addresses their growing demand for more power."

"Valence's N-Charge system is a great solution for the power problem that many of our mobile customers are faced with today," said Michele Azar, business general manager, Computer Peripherals and Accessories for Best Buy. "We've been searching for a universal product that would not only provide additional power to resolve this issue, but would also be compatible with and support the various notebook brands and models we carry. We have found it in the N-Charge system."

The N-Charge Power System is a stand-alone, extended life battery that offers up to 10 hours of continuous notebook run-time. With its slim design, the completely portable N-Charge system fits easily into a backpack or computer bag. The N-Charge system features Valence's inherently stable and environmentally friendly Saphion(tm) lithium-ion technology.

About Valence Technology Inc.

Valence is a leader in the development and commercialization of Saphion(tm) technology and Lithium-ion polymer rechargeable batteries. Valence has more than 722 issued and pending patents worldwide, including 254 issued in the U.S. The company has facilities in Austin, Texas, Henderson, Nev. and Mallusk, Northern Ireland. Valence is traded on the NASDAQ SmallCap Market under the symbol VLNC and can be found on the Internet at www.valence.com.

Forward-Looking Statement

The information contained herein includes "forward-looking statements." The company cautions readers not to put undue reliance on forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those described herein, for the reasons, among others, discussed in our reports filed with the Securities and Exchange Commission.