MAXWELL TECHNOLOGIES PROMOTES ALAIN RIEDO, GENERAL MANAGER OF SWISS UNIT, TO CORPORATE SENIOR VICE PRESIDENT

May 14, 2006

Riedo, 48, joined the company’s Swiss unit, formerly known as Montena
Components, in 1988 as director of sales, and was promoted to general
manager in 1994. Maxwell retained Riedo as general manager of Maxwell SA
when it acquired Montena in 2002. He negotiated the divestiture of several
non-core product lines in 2002 and 2003, and continued to oversee management
of the CONDIS® line of high voltage capacitor products as well as BOOSTCAP®
ultracapacitor manufacturing in Switzerland. In November 2005 his role was
expanded to include overall responsibility for Maxwell’s global
ultracapacitor sales organization.

“This promotion reflects Alain’s outstanding contributions in building our
high voltage capacitor business to its all-time record volume in 2005,
directing development and manufacturing scale-up for our highly successful
‘D-Cell’ ultracapacitor product, and the increased responsibilities he
recently assumed for ultracapacitor sales worldwide,” said Dr. Richard
Balanson, Maxwell’s president and chief executive officer.

About Maxwell Technologies:

Maxwell is a leading developer and manufacturer of innovative,
cost-effective energy storage and power delivery solutions. Our BOOSTCAP®
ultracapacitor cells and multi-cell modules and POWERCACHE® backup power
system provide safe and reliable power solutions for applications in
consumer and industrial electronics, transportation and telecommunications.
Our CONDIS® high-voltage grading and coupling capacitors help to ensure the
safety and reliability of electric utility infrastructure and other
applications involving transport, distribution and measurement of
high-voltage electrical energy. Our radiation-mitigated microelectronic
products include power modules, memory modules and single board computers
that incorporate powerful commercial silicon for superior performance and
high reliability in aerospace applications. For more information, please
visit our website: www.maxwell.com.