SAN DIEGO, Aug. 6 /EMWNews/ -- Maxwell Technologies, Inc.

(Nasdaq: MXWL) today announced that it intends to proceed with an equity

distribution program with UBS Securities LLC ("UBS"). Under the terms of

the program, Maxwell may offer and sell shares of its common stock, par

value $0.01 per share, having an aggregate offering price of up to

$15,000,000 from time to time through UBS, as sales agent. The program is

expected to commence on August 11, 2008.



    Any sales of the shares pursuant to the equity distribution program

will be made by means of ordinary brokers' transactions on the Nasdaq

Global Market at market prices, in block transactions, or as otherwise

agreed with UBS. Under the terms of the program, Maxwell may also sell

shares to UBS as principal for UBS' own account. The shares are expected to

be offered pursuant to an effective shelf registration statement previously

filed with the Securities and Exchange Commission (SEC).



    This press release shall not constitute an offer to sell or the

solicitation of an offer to buy, nor shall there be any offer or sale of

the shares of common stock in any jurisdiction in which such offer,

solicitation or sale would be unlawful prior to the registration or

qualification under the securities laws of any jurisdiction. Any offer,

solicitation or sale will be made only by means of the prospectus

supplement and the accompanying base prospectus, copies of which, when

available, may be obtained from the SEC's website at http://www.sec.gov.



    Maxwell is a leading developer and manufacturer of innovative,

cost-effective energy storage and power delivery solutions. Our BOOSTCAP(R)

ultracapacitor cells and multi-cell modules provide safe and reliable power

solutions for applications in consumer and industrial electronics,

transportation and telecommunications. Our CONDIS(R) high-voltage grading

and coupling capacitors help to ensure the safety and reliability of

electric utility infrastructure and other applications involving transport,

distribution and measurement of high-voltage electrical energy. Our

radiation- mitigated microelectronic products include power modules, memory

modules and single board computers that incorporate powerful commercial

silicon for superior performance and high reliability in aerospace

applications.



    Forward-Looking Statements: Statements in this news release that are

"forward-looking statements" are based on current expectations and

assumptions that are subject to risks and uncertainties. Actual results

could differ materially because of factors such as:




    -- the company's history of losses and uncertainty about its ability

       to achieve or maintain profitability;

    -- general economic conditions in the markets served by the company's

       products;

    -- cost-effective manufacturing and the success of outsourced product

       assembly;

    -- the impact of competitive products and pricing;

    -- risks and uncertainties involved in foreign operations, including the

       impact of currency fluctuations.



    For further information regarding risks and uncertainties associated

with Maxwell's business, please refer to the "Management's Discussion and

Analysis of Financial Condition and Results of Operations" and "Risk

Factors" sections of our SEC filings, including, but not limited to, our

annual report on Form 10-K and quarterly reports on Form 10-Q, copies of

which may be obtained by contacting Maxwell's investor relations department

at (858) 503-3434 or at our investor relations website:

http://www.maxwell.com/investors/sec-filing.asp. All information in this

release is as of August 6, 2008. The company undertakes no duty to update

any forward-looking statement to reflect actual results or changes in the

company's expectations.