ZAP announces 3 for 1 forward stock split

SANTA ROSA, California (November 23, 2004) - Automotive technology pioneer ZAP (OTC BB:ZAAP) announced today that during a Special Meeting of the Board of Directors the Company approved a 3 for 1 forward split of the Company's common stock.

The forward stock split will be effective on or about December 13, 2004. Stockholders will be entitled to three shares of common stock for each share of common stock held on that date. The proposed stock split is subject to regulatory approval and may require the issuance of a new symbol and CUSIP number.

"This forward stock split is intended to lay the groundwork for the anticipated growth of the Company," said ZAP CEO Steve Schneider. "It is also part of our ongoing efforts to improve trading liquidity, broaden ownership and enhance shareholder value."

Yesterday ZAP announced that the 60-MPG SMART car was granted a certificate of conformity by the U.S. Environmental Protection Agency, clearing the way for U.S. sales by ZAP. The SMART car is on display to the public for the first time at The San Francisco International Auto Show, open to consumers through November 28 at The Moscone Center in downtown San Francisco.