Statement by Medis Technologies

NEW YORK, Nov. 4 /PRNewswire-FirstCall/ -- Medis Technologies Ltd. (Pink
Sheets: MDTL), a developer and producer of fuel cells based on its proprietary
sodium borohydride technologies, announced today that current and former
employees of More Energy Ltd. and Medis El Ltd., which are both wholly owned
subsidiaries of Medis Technologies Ltd., initiated liquidation proceedings in
an Israeli court with respect to each such subsidiary. Medis Technologies
Ltd. intends to fully cooperate to effect the orderly liquidation of each of
these subsidiaries. It is expected that a liquidator will be appointed by an
Israeli court.

About Medis Technologies Ltd.
Medis Technologies Ltd. (MDTL: PK) (www.medistechnologies.com), headquartered
in New York, is the first company in the world to market a personal and
portable liquid fuel cell capable of providing electrical power to the mobile
electronics marketplace. The Medis fuel cell features a patented, proprietary
fuel formulation that utilizes borohydride to generate electricity upon
activation; it is safe, clean, silent, and recyclable. First generation
products include the Medis 24-7 Power Pack; 24-7 Xtreme Portable Power
Solution; and the Medis Fuel Cell Power Emergency Kit.

This press release may contain forward-looking statements, which are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995.In some cases you can identify those so-called "forward
looking statements" by words such as "may," "will," "should," "expects,"
plans," "targets," "believes," "anticipates," "estimates," "predicts,"
"potential," or "continue" or the negative of those words and other comparable
words. These forward looking statements are subject to risks and
uncertainties, product tests, commercialization risks, availability of
financing and results of financing efforts that could cause actual results to
differ materially from historical results or those anticipated. Further
information regarding these and other risks is described from time to time in
the Company's filings with the SEC. We assume no obligation to update or alter
our forward-looking statements made in this release or in any periodic report
filed by us under the Securities Exchange Act of 1934 or any other document,
whether as a result of new information, future events or otherwise, except as
otherwise required by applicable federal securities laws.

CONTACT:
Omer Masud
Medis Technologies
omerm@medistechnologies.com
+1-212-935-8484

SOURCE Medis Technologies Ltd.

Omer Masud, Medis Technologies, omerm@medistechnologies.com, +1-212-935-8484