Medis Technologies Schedules Third Quarter Financial Results and Conference Call

NEW YORK, NY -- (MARKET WIRE) -- November 2, 2006 -- Medis Technologies Ltd. (NASDAQ: MDTL) ("Medis") announced today that it will issue its financial results for the third quarter ended September 30, 2006 on Thursday, November 9, 2006. Management will also conduct a conference call that morning at 11:00 a.m. Eastern Time to discuss these results and the current status of its business operations.

Interested parties may participate in the call by dialing 866-820-1713 (Domestic) or 706-643-3137 (International) approximately 10 minutes before the call is scheduled to begin and ask to be connected to the Medis conference call or conference code #9180114. A recorded replay of the call will be available until 12:00 a.m. Eastern Time on November 15, 2006. Listeners may dial 800-642-1687 (Domestic) or 706-645-9291 (International) and use the code #9180114 for the replay.

The call will also be simultaneously broadcast over the Internet. To listen to the live webcast, please go to www.medistechnologies.com and click on the conference call link, or go directly to http://audioevent.mshow.com/311490/. The conference call will be archived and accessible for approximately 30 days if you are unable to listen to the live call.

Medis Technologies' primary focus is on direct liquid fuel cell technology. Its business strategy is to sell its products to end users through retail outlets, service providers and to the military and other markets. Medis has also developed the CellScan with many potential applications relating to disease diagnostics and chemo sensitivity. Additionally, Medis' product pipeline includes other technologies, in varying stages of development.

This press release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases you can identify those so-called "forward-looking statements" by words such as "may," "will," "should," "expects," "plans," "targets," "believes," "anticipates," "estimates," "predicts," "potential," or "continue" or the negative of those words and other comparable words. These forward-looking statements are subject to risks and uncertainties, product tests, commercialization risks, availability of financing and results of financing efforts that could cause actual results to differ materially from historical results or those anticipated. Further information regarding these and other risks is described from time to time in the Company's filings with the SEC. We assume no obligation to update or alter our forward-looking statements made in this release or in any periodic report filed by us under the Securities Exchange Act of 1934 or any other document, whether as a result of new information, future events or otherwise, except as otherwise required by applicable federal securities laws.

This press release is available on Medis' web site at www.medistechnologies.com.

Contact Information: CONTACT: Medis Technologies Ltd. Robert K. Lifton Chairman & CEO (212) 935-8484 INVESTOR RELATIONS COUNSEL: The Equity Group Inc. Adam Prior (212) 836-9606 Devin Sullivan (212) 836-9608