Security Agreement

Recorded: 2002-11-06 Received: 2002-11-12 Pages: 7

Assignor

ENER1 GROUP, INC.

Executed: 2002-08-31

Assignee

BZINFIN SA

MORGAN & MORGAN TRUST, ROAD TOWN, TORTOLA, VGX, VIRGIN ISLANDS, BRITISH

Covered Properties (2)

Solid polymer electrolyte lithium battery

Application: 10/038,556 →

Frozen Beer Product, Method and Apparatus

Application: 10/000,793 →