NEW CASTLE, Pa., Nov. 14 /PRNewswire-FirstCall/ -- Axion Power International, Inc. (OTC Bulletin Board: AXPW) today announced that it held its Annual Meeting of Stockholders on Wednesday, November 12, at the New Castle Country Club, 511 Country Club Drive, as scheduled. A quorum of stockholders was present in person or by proxy.

With over 32.7 million total shares voted at the Meeting, the three business items were approved with an overwhelming majority of votes cast. The resolutions carried consisted of the re-election of five directors; ratification of re-appointment of Rotenberg & Co. LLP as the Company's independent registered public accounting firm for the current fiscal year; and authorization of a common share increase from 50 million to 100 million.

The directors re-elected to the Board for new terms are Dr. Igor Filipenko, Robert G. Averill, Thomas Granville, Michael Kishinevsky and Dr. Howard K. Schmidt. The approval of the director slate by more than 99% of the votes cast for each director demonstrates the continued strong shareholder support for the current Board of Directors. Please refer to Axion's Definitive 14A filing for complete biographies of the Company's Directors.

About Axion Power International, Inc.

Axion has developed and patented a next generation energy storage device that won the prestigious Frost & Sullivan Technology Award for North America in the field of lead-acid batteries. According to Frost & Sullivan, Axion's new PbC(TM) batteries have "the potential to revitalize the lead-acid battery industry by breathing new life into an established technology that is not well suited to the requirements of important new applications like hybrid electric vehicles and renewable power."

Axion Power International, Inc. is the industry leader in the field of lead-acid-carbon energy storage technologies. Axion believes this new battery technology is the only class of advanced battery that can be assembled on existing lead-acid battery production lines throughout the world without significant changes to production equipment and fabrication processes. It also believes it will be able to manufacture carbon electrode assemblies in volume at low cost using standard automated production methods that are commonly used in other industries. If and when its electrode manufacturing methods are fully developed, Axion believes it will be able to sell carbon electrode assemblies as virtual plug-and-play replacements for lead-based negative electrodes used by all other lead-acid battery manufacturers. Axion's goal is to become the leading supplier of carbon electrode assemblies for the lead-acid battery industry. For more information, visit www.axionpower.com.

     Contact:  Allen & Caron                Axion Power International Inc
www.allencaron.com           www.axionpower.com
Rudy Barrio (investors)      Kelly Gubish
Brian Kennedy (media)        724 654 9300
212 691 8087                 kgubish@axionpower.com
r.barrio@allencaron.com
brian@allencaron.com