Instructions to Investors regarding the Reverse Split

Ener1 has approved a reverse split where investors will receive one share for every seven shares held on the effective date of April 24, 2008. Shares received in the reverse split will be rounded up to the nearest whole number of shares.

Shareholders who hold their shares in brokerage accounts or "street name" will not be required to take any action to effect the exchange. Shareholders who own shares in their name received a form in the mail called a Letter of Transmittal. For your convenience, you can print and complete the PDF version of the form located here. Investors should complete the form and send the form and the share certificates to our transfer agent at:

Registrar & Transfer
Investor Relations Department
10 Commerce Drive
Cranford, NJ 07016