MTI Regains Compliance with Nasdaq Listing Requirements

  
    
  
  
    
      Mechanical Technology, Incorporated (“MTI”) 
      (NASDAQ: MKTYD) today announced that it had regained compliance with the 
      Nasdaq listing requirements. On June 3, 2008, MTI received notification 
      from The Nasdaq Stock Market that it is once again in compliance with 
      the $1.00 minimum bid price requirement set forth in Nasdaq Marketplace 
      Rule 4450(a)(5) and that its non-compliance announced on January 11, 
      2008 has been remedied.
    
    
      About MTI
    
    
      MTI is primarily engaged in the development and commercialization of 
      Mobion® off-the-grid 
      portable power solutions through its subsidiary MTI MicroFuel Cells Inc. 
      (“MTI Micro”). MTI 
      Micro has a team of entrepreneurial business executives, researchers and 
      scientists; a proprietary direct methanol micro fuel cell power system 
      and a number of system prototypes demonstrating size reductions and 
      performance improvements; and related intellectual property. MTI Micro 
      has received government funding and developed strategic partnerships to 
      facilitate efforts to achieve commercialization. MTI is also engaged in 
      the design, manufacture, and sale of test and measurement instruments 
      and systems through its subsidiary MTI Instruments, Inc. For more 
      information about MTI, please visit www.mechtech.com.
    
    
      Statements in this press release which are not historical fact, 
      including statements regarding management’s 
      intentions, hopes, goals, beliefs, expectations, projections, plans, 
      anticipation, outlook or predictions of the future, are forward looking 
      statements. All forward-looking statements are made as of today, 
      and MTI disclaims any duty to update such statements. It is 
      important to note that MTI’s actual results 
      could differ materially from those projected in forward-looking 
      statements. Factors that could cause the anticipated results not 
      to occur include, among others, risks related to financing; 
      uncertainties in development, manufacturing and competition; and the 
      risk factors listed from time to time in MTI’s 
      SEC reports, including, but not limited to, its Annual Report on Form 
      10-K and Quarterly Reports on Form 10-Q.