ZAP CEO Discovers 'Waking Giant' in China

SANTA ROSA, California (February 24, 2004) - Steve Schneider, CEO for electric car startup ZAP (OTC BB:ZAPZ), says that during his trade mission to jump-start electric car production, he found China's emerging economy to be a "waking giant." Schneider was the invited guest of renowned electric car authority Dr. CC Chan on a two-week trip in February to explore business opportunities in several Chinese cities, including Hong Kong, Shenzhen, Yantai, Wuhan, Nanchang, Shanghai, Wuxi and Haikou. As his guide in electric car development, Schneider said Chan gave him an insider's perspective that few Westerners have enjoyed. "Although I have traveled there in the past, Dr. Chan showed me a side of China that has changed me forever," said ZAP CEO Steve Schneider. "China is no longer a sleeping giant, but one that is waking up to its destiny as an economic world power. I believe electric car production in China is a win-win situation because Western companies can benefit from Chinese manufacturing while China can benefit from the introduction of new, appropriate forms of transportation technologies that can enhance the Chinese economy and lifestyle." Called the "Father of Asian EVs" by Global View, Chan was recently named as Chairman of ZAP's Advisory Board of Directors. One of the world's top scientists in electric transportation, Chan's 2001 book Modern Electric Vehicle Technology is considered a comprehensive reference book on the subject. A professor of engineering at the University of Hong Kong, Chan holds numerous advisory and technical positions with the Chinese government. For a complete biography, visit http://www.zapworld.com. "In China, Dr. Chan is the equivalent of a U.S. Senator," said ZAP CEO Steve Schneider. "We crisscrossed the country and wherever we went, businesses and government agencies literally rolled out the red carpet for us, uncovering business opportunities I have only dreamed about. Spending this time with him, I have come to share his vision of integrating the strength of East and West to advance science and technology for the welfare of humanity." In 2003, ZAP contracted for the assembly of electric cars with one of China's largest automobile manufacturers. The Company is now working to organize distribution for electric cars to dealers in North, South, and Central America.