Quantum Announces Exercise of Over-Allotment Option

Quantum Fuel Systems Technologies Worldwide, Inc.

today announced that the underwriters of its previously announced public offering of common stock and warrants have exercised their over-allotment option and purchased an additional 1,625,000 shares of the Company's common stock at the public offering price of $0.83 per share, less underwriting discounts and commissions. Proceeds to the Company, net of underwriting discounts and commissions, will be approximately $1.2 million. The Company will use the net proceeds for general corporate purposes.