VLNC Valence Technology, Inc. (MM)

Valence Technology, Inc. (Nasdaq:VLNC), a U.S. based global manufacturer of advanced energy storage solutions, today announced the extension of a supply agreement with Rubbermaid Medical Solutions (RMS), a leading provider of medication carts and mobile computing solutions for healthcare facilities.

"We have been very pleased with Valence's lithium phosphate battery technology. The benefits of extended battery life, fast charging, lighter weight, and reliability are exceeding expectations as well as enhancing the productivity of our customers. In addition, the degree of support from Valence's technical team has been exemplary," said Sid Amasya, Director, Supply Chain for RMS.

"This extension demonstrates the continued acceptance of Valence's batteries within the medical industry. In an industry where reliability, safety and productivity are paramount, we are proud to work with Rubbermaid in providing an advanced technology that exceeds very high expectations. We understand that Rubbermaid and many of their customers are realizing significant performance, safety and reliability advantages as a result of our lithium phosphate solution," stated vice president of sales and marketing RJ Adleman.

Valence's U-Charge® energy storage systems are at the forefront of a fundamental shift away from lead acid batteries, which have been the dominant rechargeable power source since the early 20th century. Valence batteries are made of lightweight, non-corrosive materials and offer power density, weight, reliability, long life and lower lifetime cost advantages over lead acid batteries.    

About Valence Technology, Inc.:

Valence Technology is a global leader in the development and manufacture of safe, long-life lithium iron magnesium phosphate advanced energy storage solutions and integrated command and control logic. Headquartered in Austin, Texas, Valence enables and powers some of the world's most innovative and environmentally friendly applications, ranging from commercial electric vehicles to industrial and marine equipment. Valence Technology today offers a proven technology and manufacturing infrastructure that delivers ISO-certified products and processes that are protected by an extensive global patent portfolio. In addition to the corporate headquarters in Texas, Valence Technology has its Research & Development Center in Nevada, its Europe/Asia Pacific Sales office in Northern Ireland, manufacturing facilities in China, and global fulfillment centers in North America and Europe. Valence Technology is traded on the NASDAQ Capital Market under the ticker symbol "VLNC." For more information, visit www.valence.com.

The Valence Technology, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10210

About Rubbermaid Medical Solutions:

Rubbermaid Medical Solutions is the leading provider of clinical workstations and mobile computing solutions for healthcare facilities. Product offerings include ergonomically designed mobile computing carts, medication carts and wall-mounted workstations, which are lightweight, customizable and support multiple technologies. Rubbermaid Medical Solutions (www.rubbermaidmedical.com) is part of Newell Rubbermaid's global portfolio of brands.

Safe Harbor Statement:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results, including realization of any revenues from a supply agreement with Rubbermaid Medical Solutions, may vary substantially from these forward-looking statements as a result of a variety of factors. Other risk factors that could affect our actual results are discussed in our periodic reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended March 31, 2011, and our Quarterly Reports on Form 10-Q, and the reader is directed to these statements for a further discussion of important factors that could cause actual results to differ materially from those in the forward-looking statements.

CONTACT: IR Contact:
         Bob Gray
         Valence Technology, Inc.
         512.527.2921
         investor@valence.com
         
         PR Contact:
         Jeff Fox
         The Blueshirt Group
         415.828.8298
         jeff@blueshirtgroup.com