NEWARK, N.Y.--(BUSINESS WIRE)--March 7, 2008--Ultralife (NASDAQ: ULBI) announced the appointment of Mr. Philip A. Fain as vice president of business development. In addition, the company announced Mr. Fain's election as a corporate officer. Reporting to John D. Kavazanjian, Ultralife's president and chief executive officer, Fain's responsibilities will include supporting the ongoing integration of the company's recent acquisitions and managing the company's new business and strategic alliance opportunities.

Commenting on Fain's appointment, Kavazanjian, said, "I am delighted to welcome Phil to Ultralife's executive team. He is exceptionally talented and widely recognized for his outstanding business development, financial and leadership skills, which extend across a multitude of industries, operating environments and locales. He brings a full portfolio of financial expertise and the ability to solve complex problems through a deep understanding of operations and will be an invaluable asset in helping to assure both the successful integration and growth of our recent acquisitions."

Mr. Fain (53) began his career as a CPA and consultant with Arthur Anderson & Co., after which he joined Bausch & Lomb where he served in various management and executive positions including roles in corporate accounting, financial reporting and corporate audit functions. He became vice president and controller for B&L's U.S. Sunglass business and served as senior vice president of finance for the Global Eyewear business where he provided worldwide financial, information technology and business development leadership for this business, which included the Ray-Ban brand. He played a lead role in dramatically increasing the revenue base of the global business through the acquisition of some of the world's most sought after sunglass brands as well as through strategic alliances with the Porsche, Benetton and Callaway families.

Fain played a critical role in the sale of B&L's Global Eyewear business to Luxottica, SpA, where he joined the acquiring company as vice president of finance for Ray-Ban SunOptics, and was a member of the senior executive team responsible for the successful worldwide transition, restructuring and integration of the acquired businesses into Luxottica.

Fain, a founder of CXO on the GO, a management-consulting firm, provided consulting support to Ultralife during its recent acquisitions. He is also chairman of the board of Compeer, Inc., a director of several privately held companies and provides active leadership to many community and charitable causes. A native of Rochester, NY, he received his BA in Economics and MBA at the University of Rochester's Simon School.

About Ultralife

Ultralife, which began as a battery company, now offers products and services ranging from portable and standby power solutions to communications and electronics systems. Through its engineering and collaborative approach to problem solving, Ultralife serves government, defense and commercial customers across the globe.

Ultralife's family of brands includes: Ultralife Batteries, Stationary Power Services, Reserve Power Systems, ABLE, McDowell Research and RedBlack Communications. Ultralife's operations are in North America, Europe and Asia. For more information, visit www.ulbi.com.

This press release may contain forward-looking statements based on current expectations that involve a number of risks and uncertainties. The potential risks and uncertainties that could cause actual results to differ materially include: Worsening global economic conditions, increased competitive environment and pricing pressures, disruptions related to restructuring actions and delays. Further information on these factors and other factors that could affect Ultralife's financial results is included in Ultralife's Securities and Exchange Commission (SEC) filings, including the latest Annual Report on Form 10-K.

CONTACT: Ultralife
Julius Cirin, 315-332-7100
jcirin@ulbi.com
or
Investor Relations:
Lippert/Heilshorn & Associates, Inc.
Jody Burfening, 212-838-3777
jburfening@lhai.com

SOURCE: Ultralife