Exhibit 99.1

        Ultralife Batteries Inc. Announces 2004 Analyst and Investor Day

    NEWARK, N.Y.--(BUSINESS WIRE)--Sept. 24, 2004--Ultralife
Batteries, Inc. (NASDAQ:ULBI) will host an Analyst and Investor Day
for institutional investors and analysts on September 28, 2004 at the
company's facilities in Newark, NY.
    The agenda includes management presentations on: short and
long-term objectives, markets, product development process, and a
financial overview.
    The event will take place from 12 noon to 5:00 PM Eastern Daylight
Time. Attendance at the event is by invitation only, however, a replay
of the presentation will be available by the end of the day on
September 29th in the Investor Relations section of the company's
website, http://www.ultralifebatteries.com/.

    About Ultralife Batteries, Inc.

    Ultralife is a leading developer, manufacturer, and marketer of
standard and customized lithium primary (non-rechargeable), lithium
ion and lithium polymer rechargeable batteries. Ultralife's
high-energy batteries use advanced lithium technology and are used in
military, industrial and consumer portable electronic products.
Through its range of standard products and ability to customize for a
wide range of applications, Ultralife is able to provide the next
generation of battery solutions. OEM, retail and government customers
include Energizer, Kidde Safety, Philips Medical Systems, Radio Shack
and the national defense agencies of the United States and United
Kingdom, among others.
    Ultralife's headquarters, principal manufacturing and research
facilities are in Newark, New York, near Rochester. Ultralife (UK)
Ltd., a second manufacturing and research facility, is located in
Abingdon, U.K. Both facilities are ISO-9001 certified.

    CONTACT: Ultralife Batteries, Inc.
             Robert W. Fishback, 315-332-7100
             bfishback@ulbi.com
             or
             Lippert/Heilshorn & Associates, Inc.
             Investor Relations:
             Jody Burfening, 212-838-3777
             jburfening@lhai.com
             or
             Seema Brin, 212-838-3777
             sbrin@lhai.com
             or
             Media:
             Chenoa Taitt, 212-201-6635
             ctaitt@lhai.com