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Valence Technology, Inc. (VLNC) Yearly Returns

Year	Begining Price	Ending Price	Gain or Loss	Percent Gain or Loss
1993	25.625	15.25	-10.375	-40.49%
1994	15.25	2.375	-12.875	-84.43%
1995	2.375	4.50	2.125	89.47%
1996	4.50	4.4375	-0.0625	-1.39%
1997	4.4375	5.0625	0.625	14.08%
1998	5.0625	7.25	2.1875	43.21%
1999	7.25	19.00	11.75	162.07%
2000	19.00	9.3125	-9.6875	-50.99%
2001	9.3125	3.37	-5.9425	-63.81%
2002	3.37	1.30	-2.07	-61.42%
2003	1.30	3.94	2.64	203.08%
2004	3.94	3.11	-0.83	-21.07%
2005	3.11	1.54	-1.57	-50.48%
2006	1.54	1.65	0.11	7.14%
2007	1.65	1.99	0.34	20.61%