Quantum Closes $53 Million Follow-On Public Offering IRVINE, Calif., Oct. 27 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc., , today announced the closing of its follow-on public offering of 7 million shares of its common stock. All of the shares were sold by the company, with net proceeds to Quantum of approximately $53 million before offering-related expenses. The company has also granted to the underwriters a 30-day option to purchase up to an additional 1,050,000 shares to cover over-allotments. The offering was underwritten by Adams, Harkness & Hill, Inc., First Albany Corporation and TD Securities. Copies of the prospectus may be obtained from Adams, Harkness & Hill, Inc. 60 State Street, 6th Floor, Boston, Massachusetts 02109. (Logo: http://www.newscom.com/cgi-bin/prnh/20010320/QUANTUMLOGO ) A registration statement relating to these securities has been filed with the Securities and Exchange Commission and has been declared effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales of these securities in any state in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. For more information please contact: Dale Rasmussen, Investor Relations +1-206-315-8242 http://www.newscom.com/cgi-bin/prnh/20010320/QUANTUMLOGO http://photoarchive.ap.org/ DATASOURCE: Quantum Fuel Systems Technologies Worldwide, Inc. CONTACT: Dale Rasmussen, Investor Relations of Quantum, +1-206-315-8242,

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