Project Better Place

• Open Forum

Palo Alto, Calif. (March 11, 2008) --- Project Better Place (www.projectbetterplace.com) today named Major General Moshe Kaplinsky as CEO of Better Place Israel, where he will lead the world's first build out of an electric recharge grid network infrastructure for electric vehicles. Better Place also today established Tel Aviv as its primary research and development center to help develop the technology roadmap for mass deployment of electric vehicles.

"I am thrilled that Moshe Kaplinsky has accepted the position as CEO of Better Place Israel," said Shai Agassi, CEO, Better Place. "I'm equally thrilled that Israel will be our primary base for technology innovation due to its engineering prowess. I see enormous strength in our ability to work across borders and tap into great talent pools in the US, Israel and elsewhere as we expand our global footprint. This group will architect the blueprint for others to follow."

As part of today's news, Better Place also named three partners:

- strategic design firm NewDealDesign of San Francisco will develop the industrial design for the charging stations and other consumer touch points for the grid; and
- Israel-based Aran Research and Development Ltd. and Nekuda DM Ltd. will develop and install the electric vehicle recharging stations in Israel.

"With the partners announced today, we will be sharply focused on executing against the vision set forth in January to move Israel off of oil within ten years," said Kaplinsky. "This is the first step toward implementation of our operational plan for Better Place Israel."

In January, Better Place announced a Memorandum of Understanding (MOU) with Renault-Nissan to build the world's first Electric Recharge Grid Operator (ERGO) model for clean transportation in Israel (http://www.projectbetterplace.com/renault-nissan-and-project-better-place-prepare-first-mass-produced-electric-vehicles). Under the agreement, Better Place will build the electric recharge grid, and Renault-Nissan will provide the electric vehicles. Next year, Better Place expects to deploy hundreds of charging stations as the company moves toward wide-scale deployment in 2011.

Before joining Better Place Israel, Kaplinsky most recently served as deputy chief of staff of the Israeli Defense Forces (IDF). Kaplinsky is a graduate of the advanced field officers course in the United States, has a Bachelor's degree in Economics and Business from Bar Ilan University and a Master's of Business Administration degree with honors from Tel Aviv University. He will report to Agassi.

Better Place Israel is a wholly-owned subsidiary of Project Better Place.

About Project Better Place

Project Better Place is a venture-backed company that aims to reduce global dependency on oil through the creation of a market-based transportation infrastructure that supports electric vehicles, providing consumers with a cleaner, sustainable, personal transportation alternative. Launched in October 2007, Project Better Place will build its first pilot Electric Recharge Grid in Israel and plans to deploy the infrastructure on a country by country basis with initial deployments beginning in 2010.For more information, please visit www.projectbetterplace.com.

Media Contacts:
Kelly Newton
Mobile: +1-202-215-1250
Office: +1-202-944-1908
kelly.newton@hillandknowlton.com

Moshe Debby
Mobile: +972-52-8748744
Office: +972-3-5683000
moshe@debby.co.il

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