Dynamic Fuel Systems Inc.

June 12, 2009 15:41 ET

Dynamic Fuel Systems Inc.: Appointment of Chief Financial Officer

PICKERING, ONTARIO--(Marketwire - June 12, 2009) - Mr. Jerry Solensky Jr., President and CEO of Dynamic Fuel Systems Inc. (TSX VENTURE:DYA) ("Dynamic" or the "Corporation") is pleased to announce the appointment of Mr. Rakesh Malhotra, FCA (India), CPA (US), CA (Canada) as the Corporation's Chief Financial Officer, effective immediately.

Mr. Solensky also wishes to announce that the interim CFO, Mr. Fred Gurney, CA has resigned effective today, to pursue other interests.

Mr. Malhotra is a United States Certified Public Accountant (CPA), Canadian Chartered Accountant (CA) and Fellow Chartered Accountant from India with considerable finance and accounting experience. Mr. Malhotra graduated with a Bachelor of Commerce (Honors) from the University of New-Delhi (India) and worked for a large accounting firm A.F Ferguson & Co. (Indian correspondent for KPMG) and obtained his CA designation in India. Having practiced as an accountant for over 10 years in New Delhi, he moved to the Middle East and worked for 5 years with the highly successful International Bahwan Group of Companies in a Senior Finance position. He has worked in Canada as an accountant with a mid-sized Chartered Accounting firm in Toronto doing audits of public companies and has been a Chief Financial officer and also a consultant to various public companies listed in both Canada and the USA. Mr. Malhotra has more than 22 years of experience in accounting and finance.

"We are delighted to welcome a person of Rakesh's talent and experience and to have him join the Dynamic Management team," states Solensky. "His international accreditations are ideally suited to our current and future needs. We believe Rakesh will make a significant contribution to our future success."

About Dynamic Fuel Systems Inc.

Dynamic Fuel Systems Inc. is a Pickering, Ontario based energy sector company engaged in the manufacture, distribution, installation and marketing of a transportable hydrogen generator retrofit targeted for use in the heavy tractor trailer industry. Its flagship product, the Jetstar™, is a patent-pending aftermarket retrofit solution that provides combustion enhancement by mixing hydrogen and oxygen into a vehicle's intake air to provide the engine with a more complete burn of the fuel in its internal combustion engine. Its business was founded in 2001 and more information about its products can be viewed at its website at www.dynamicfuel.com

This release includes forward looking statements, which are based on certain assumptions and reflects management's current expectations. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Corporation disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

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

Contact Information