AccelRate Power Systems Inc.

AccelRate Power Systems Inc.

January 22, 2010 18:13 ET

AccelRate's Change of Auditors

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 22, 2010) - AccelRate Power Systems Inc. (the "Company") (TSX VENTURE:AXP)(FRANKFURT:KCG) announces that the Board of Directors have appointed Dale Mathesan Carr-Hilton LaBonte LLP (the "Successor Auditors") as the auditors of the Company. Ernst & Young LLP (the "Former Auditors") have resigned as auditors of the Company effective January 15, 2010.

There have been no reservations in the Former Auditor's reports on any of the Company's financial statements commencing at the beginning of the two most recently completed financial years and ending on the date of the Former Auditor's resignation. There are no reportable events between the Company and the Former Auditors. The resignation of the Former Auditor and the appointment of the Successor Auditor of the Company were considered and approved by the Audit Committee and the Board of Directors of the Company.

AccelRate Power Systems Inc. is headquartered in Vancouver, BC. The Company's shares trade on the TSX Venture Exchange and on the Frankfurt Exchange (symbol KCG).

"Reimar Koch"

President and CEO

This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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