Konarka Appoints Chief Financial Officer to Management Team

Lowell, Mass. – October 18, 2004 – Konarka Technologies, Inc., an innovator in developing and manufacturing power plastics that convert light to energy, today announced Eric Walters joined the Company as vice president and chief financial officer. With 20 years of experience as a financial executive, Walters will aid Konarka’s aggressive growth plans as it moves to full production and commercialization of its light-activated power plastics. These materials enable any power-consuming device or structure to carry its own on-board source of renewable energy.

“Eric’s talents are ideally suited to Konarka as we move into our next phase,” said Howard Berke, chairman and chief executive officer, Konarka. “He brings a depth of experience in interacting with the financial community and a proven track record in successfully growing a venture-backed company through an initial public offering and beyond. He will help us achieve our goals now and into the future.”

Most recently, Walters was the executive vice president and chief compliance officer at PolyMedica Corporation (Nasdaq: PLMD), a medical products company. As chief financial officer there, he helped drive the growth of PolyMedica from a $1 million start-up to a successful $350 million publicly held company with an $800 million market capitalization. He applied his financial skills and business understanding to fund raising, investor value creation, strategy, mergers and acquisitions, and leveraging existing businesses, markets and resources to maximize growth with limited resources.

Prior to PolyMedica, Walters was assistant treasurer at John Hancock Capital Growth Management, Inc. He was also controller at Venture Founders Corporation and held management positions at Coopers & Lybrand. He holds a Bachelor of Arts degree in Political Science/International Relations from Colgate University, a Certificate in Accounting from Bentley College and is a Certified Public Accountant.

“This is an exciting time to join Konarka, where breakthrough innovations will enable low cost sources of renewable power that will be both affordable and universally available,” said Walters. “My role will be to guide Konarka’s financial growth to ensure a steady path to success.”

About Konarka Technologies, Inc.
Konarka builds products that convert light to energy – anywhere. Konarka is the leading developer of polymer photovoltaic products that provide a source of renewable power in a variety of form factors for commercial, industrial, government and consumer applications. Konarka’s photovoltaic nanotechnology is focused on delivering lightweight, flexible, scalable and manufacturable products. Konarka has a broad portfolio of patents, technology licenses and an accomplished technical team. Nobel Laureate Professor Alan Heeger (UC Santa Barbara) is the chief scientist for Konarka, and Dr. Michael Grätzel (Ecole Polytechnique Fédérale de Lausanne) is a senior scientific advisor. Konarka Technologies is headquartered in Lowell, Mass., U.S.A., with research and development subsidiaries in Austria, Germany and Switzerland. For more information, visit www.konarka.com or contact Tracy Wemett, BroadPR, at 617-868-5031 or .

All trademarks recognized.

###