Tonbridge Power Inc.

Tonbridge Power Inc.

November 30, 2007 16:01 ET

Tonbridge Power Inc. Provides Quarterly Financial Results

TORONTO, ONTARIO--(Marketwire - Nov. 30, 2007) - Tonbridge Power Inc. (TSX VENTURE:TBZ) ("the Company"), 100% controlling shareholder of the Montana Alberta Tie Ltd. transmission line project to interconnect the electricity markets of Alberta and the US through a 300 MW transmission line, today announced financial results for the three month period from July 1, 2007 to September 30, 2007. Net loss for the three months was ($0.01) per share. The Company's complete financial statements, management discussion and analysis and annual information form can be viewed on SEDAR at or on the Company's website at

The Management Discussion and Analysis was prepared as at November 27, 2007 and the following highlights to this date were:

Significant Highlights

- Required mezzanine financing was completed for US $31M on October 5, 2007.

- The Alberta Energy Utility Board hearing was completed on November 21, 2007, and a final decision is pending.

- A final US Environmental Impact Statement is ready to be issued for 45-day public comment period for the Montana Department of Environmental Quality Montana Facility Siting Act Permit, as well as the US Department of Energy Presidential Permit.

- The Company is arranging all final elements for the senior financing (market report, independent engineer's report, insurance report, final construction cost analysis.), and a final Procurement plan is being developed.

- The Company is in a position to issue its Notice to Proceed when the Alberta Energy Utility Board, Montana Department of Environmental Quality and Department of Energy permits are received.

- Net loss of $2,066,454 for the three months ending September 30, 2007, reflecting interest cost and higher legal costs relating to Alberta Energy Utility Board hearing preparation.

"I am very pleased to report that with the Alberta Energy Utility Board hearing concluding and the US processes nearing conclusion, we are focused on achieving the next phase of the project - the notice to proceed and construction," said Johan van't Hof, President and CEO.

Tonbridge Power Inc. is a Toronto-based developer of electrical transmission assets, whose principal asset is a 100% interest in Montana Alberta Tie Ltd. Shares of the Company became publicly listed on the TSX Venture Exchange on July 7, 2005 and are traded under the symbol "TBZ".

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Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements", within the meaning of applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of the Company. Forward-looking statements include, but are not limited to, statements with respect to future revenues. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "should", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the conditionality of the revenue contracts, risks related to the financing or construction of the transmission line; risks related to the performance of parties contracting for transmission capacity; delays in obtaining governmental approvals, permits or project financing or in the completion of development or construction activities, requirements for additional capital, government regulation, environmental risks as well as those factors discussed in the section entitled "Risk Factors" in the Company's Annual Information Form for the year ended December 31, 2005, available on Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

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

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