Valence Technology, Inc. Provides Interim Update and Sets Conference Call Date to Discuss Its Fiscal 2008 and Fourth Quarter Fin

  
    
  
  
    
      Valence Technology, Inc. (NASDAQ: VLNC), a provider of advanced lithium 
      phosphate rechargeable batteries, said today it will conduct a 
      conference call to discuss its fiscal 2008 and fourth quarter financial 
      results starting at 3:00 p.m. EDT (2:00 p.m. CDT) on Thursday, June 5, 
      2008.
    
    
      During the call, Robert L. Kanode, president and CEO, and Galen Fischer, 
      chief financial officer, will review financial results and business 
      operations, including progress in the European electric vehicle (EV) 
      market and the previously announced expansion of manufacturing capacity 
      to meet anticipated demand.
    
    
      “We continue to work diligently to fulfill 
      customer orders and expand our client base both in Europe and the United 
      States,” said Mr. Kanode. “During 
      our fiscal fourth quarter ended March 31, 2008, we began shipping 
      battery packs to Smith Electric Vehicles for its Edison and Newton 
      electric delivery vehicles. We are continuing the expansion of our 
      manufacturing capacity to fulfill the needs of Smith and others. Smith’s 
      projection to build 2,500 Edison and Newton vehicles during the period 
      ending March 31, 2009 will result in $70 million of revenue for Valence. 
      We believe the success we are experiencing through our agreement with 
      Smith to provide safe lithium phosphate energy power solutions will 
      serve to expand our client base in the renewable, clean energy markets.”
    
    
      Conference Call Details
    
    
      The conference call will be webcast starting at 3:00 p.m. EDT (2:00 p.m. 
      CDT) on June 5, 2008 and may be accessed by all interested parties at www.valence.com. 
      To access the webcast, please go to this Web site approximately fifteen 
      minutes prior to the start of the call to register, download, and 
      install any necessary audio software.
    
    
      Those callers within the United States and Canada can dial (888) 
      213-3752 and enter conference identification number 1222409 to 
      participate. Callers outside the United States and Canada can dial (913) 
      312-0643 and enter conference identification number 1222409.
    
    
      A telephonic replay will be available from 5:00 p.m. CDT on June 5, 2008 
      through 5:00 p.m. CDT on June 12, 2008. To access the replay, please 
      dial [phone] and enter the following identification number 
      1222409. In addition, a replay of the webcast will be available on the 
      company’s Web site at www.valence.com.
    
    
      About Valence Technology, Inc.
    
    
      Valence Technology developed and markets the industry's first 
      commercially available, safe, large-format family of Lithium Phosphate 
      Rechargeable Batteries. Valence Technology holds an extensive, worldwide 
      portfolio of issued and pending patents relating to its Lithium 
      Phosphate Rechargeable Batteries. The company has facilities in Austin, 
      Texas; Las Vegas, Nevada; Mallusk, Northern Ireland and Suzhou, China. 
      Valence is traded on the NASDAQ Capital Markets under the ticker symbol 
      VLNC and can be found on the internet at www.valence.com.
    
    
      Safe Harbor Statement
    
    
      Some information included in this press release contains forward-looking 
      statements, within the meaning of Section 27A of the Securities Act of 
      1933 and Section 21E of the Securities Act of 1934. These statements can 
      sometimes be identified by the use of forward-looking words such as “may,” 
      “will,” “anticipate,” 
      “estimate,” “except,” 
      “forecast,” “outlook,” 
      “scheduled,” or “intend” 
      and similar expressions. These statements reflect the current views, 
      beliefs and assumptions of Valence, and are subject to various risks and 
      uncertainties that could cause actual results to differ materially from 
      expectations. Among the important factors that could cause actual 
      results to differ materially from those in the forward-looking 
      statements is the actual level of product that Smith Electric Vehicles 
      purchases under the supply agreement; and Valence’s 
      ability to scale its manufacturing and other capacity to fulfill its 
      obligations under the contract if such expectations are met; as well as 
      other factors detailed in Valence’s filings 
      with the Securities and Exchange Commission, including its Annual Report 
      on Form 10-K and Quarterly Reports on 10-Q. Valence does not undertake 
      any obligation to update or supplement any forward-looking statements to 
      reflect subsequent events or circumstances and cannot assure that 
      projected results or events will be achieved.