Millennium Cell Inc Watch

from 10-K ~5 pages Our Credit No. Issue Date Expiry Date Letter of Credit Amount XXX 11/07/ 2002 11/08/2003 Usd $2,400,000 Beneficiary Applicant Ballard Power Systems Inc. 9000 Glenlyon Parkway Burnaby, British Columbia Canada, V51 519 Millennium Cell Inc. 1 Industrial Way West Eatontown, Nj 07724 Dear Beneficiary: We Hereby Establish Our Clean Standby Letter of Credit in Your Favor, as Beneficiary, Which Is Available by Payment Against the Following Documents

from 10-K ~10 pages Continuing Letter of Credit Agreement

from S-3 ~5 pages Letter of Credit

from S-3 ~20 pages Continuing Letter to Credit Agreement