Security Agreement

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

Assignor

ENER1 GROUP, INC.

Executed: 2002-08-31

Assignee

BZINFIN SA

ROAD TOWN, C/O MORGAN & MORGAN TRUST, TORTOLA, VGX, VIRGIN ISLANDS, BRITISH

Covered Properties (2)

Nonaqueous Electrolytes Based on Organosilicon Ammonium Derivatives for High-Energy Power Sources

Application: 10/126,340 →

Frozen Beer Product, Method and Apparatus

Application: 10/000,793 →