Exhibit 99.1


                                                  Contact:  Anthony Dillon, Esq.
                                                  Office:   732-544-5715


         MILLENNIUM CELL INC. ANNOUNCES RESIGNATION OF STEPHEN S. TANG;
                      H. DAVID RAMM NAMED CEO AND PRESIDENT

Eatontown, NJ--March 16, 2004--Millennium Cell Inc. (NASDAQ: MCEL), a leading
technology development company that has created a proprietary process to safely
store, generate and deliver pure hydrogen, announced today the resignation of
Stephen S. Tang, Ph.D., effective March 19, 2004, from his positions as Chief
Executive Officer, President and a Director. Dr. Tang resigned to pursue other
interests. The Board of Directors of Millennium Cell has appointed H. David Ramm
as Chief Executive Officer and President until a permanent successor has been
selected.

Mr. Ramm has been a director of Millennium Cell prior to its initial public
offering in 2000. Mr. Ramm is a principal of DKR Development, L.L.C., a
renewable energy consulting and project development firm. He was formerly
President, Chief Executive Officer and a Director of Integrated Electrical
Services. From 1997 to March 2000, he was employed first as managing director of
Enron Renewable Energy, and then as President of Enron Wind Corp. Before this he
was Chairman and Chief Executive Officer of International Fuel Cells
Corporation, a unit of United Technologies Corporation.

"Dr. Tang is a talented leader," stated Chris Andersen, the Chairman of the
Board of Millennium Cell. "The significant contributions he has made to
Millennium Cell are widely acknowledged and greatly appreciated. On behalf of
the Millennium Cell Board, we want to thank him for his dedicated service to the
Company and we wish him much success in his future endeavors. To ensure an
orderly transition, Dr. Tang has agreed to provide consulting services to the
Company and its Board."

Commenting on his departure, Dr. Tang stated, "It has been an honor and
privilege to have built and grown Millennium Cell for the past four years and
see it through its initial public offering, two follow on financings and its
early technology and commercialization challenges. I am particularly proud of
the Hydrogen on Demand(TM) process that has been developed by Millennium Cell
and being applied to standby power, military portable, consumer electronic and
transportation applications. I feel that it is time for me to move on to pursue
other personal and professional interests and I wish Millennium Cell much
success in the future."


Founded in 1998, Millennium Cell is based in Eatontown, N.J. and has developed a
multi-faceted patent portfolio, which Millennium Cell is pursuing in the United
States and internationally surrounding a proprietary process called Hydrogen on
Demand(TM). Hydrogen on Demand(TM) safely generates pure hydrogen from
environmentally friendly raw materials. In the process, the energy potential of
hydrogen is carried in the chemical bonds of sodium borohydride, which in the
presence of a catalyst releases hydrogen. The primary input components of the
reaction are water and sodium borohydride, a derivative of borax. Borax is found
in substantial natural reserves globally. Hydrogen generated b this process can
be used to power fuel cells or fed directly to internal combustion engines.
Millennium Cell also has a patented design for boron-based longer-life
batteries. The company is quoted on NASDAQ under the symbol MCEL. For more
information on Millennium Cell, visit www.millenniumcell.com or call
866-532-2783.

Cautionary Note Regarding Forward-looking Statements:

This press release may include statements that are not historical facts and are
considered "forward-looking" within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements reflect
Millennium Cell's current views about future events and financial performance.
These forward-looking statements are identified by their use of terms and
phrases such as "believe," "expect," "plan," "anticipate", "on target" and
similar expressions identifying forward-looking statements. Investors should not
rely on forward-looking statements because they are subject to a variety of
risks, uncertainties and other factors that could cause actual results to differ
materially from Millennium Cell's expectations, and Millennium Cell expressly
does not undertake any duty to update forward-looking statements. These factors
include, but are not limited to, the following: (i) the cost and timing of
development and market acceptance of Millennium Cell's hydrogen fuel storage and
delivery system; (ii) the cost and commercial availability of the quantities of
raw materials required by the hydrogen fuel storage and delivery systems; (iii)
competition from current, improving and alternative power technologies; (iv) our
ability to raise capital at the times, in the amounts and at the costs and terms
that are acceptable to fund the development and commercialization of our
hydrogen fuel storage and delivery system; (v) our ability to protect our
intellectual property; (vi) our ability to achieve budgeted revenue and expense
amounts; and (vii) other factors detailed from time to time in Millennium Cell's
filings with the Securities and Exchange Commission. Any forward-looking
statements set forth in this news release or Millennium Cell's website speak
only as of the date of this news release. Millennium Cell does not intend to
update any of these forward-looking statements to reflect events or
circumstances that occur after the date hereof.


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