AccelRate Power Systems Inc.
TSX VENTURE : APS
FRANKFURT : KCG

AccelRate Power Systems Inc.

August 23, 2006 16:05 ET

AccelRate Announces Management Departure

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 23, 2006) - AccelRate Power Systems (TSX VENTURE:APS)(FWB:KCG) today announced that Debby Harris has resigned to pursue other interests. Ms. Harris has served as the Company's Vice-President, Corporate and Market Development since February 2005. Ms. Harris will remain in her current role through September to assist in an orderly transition of her responsibilities.

"I want to thank Ms. Harris for her contributions to the Company and wish Debby all the best in her future endeavors," said Reimar Koch, President and CEO of AccelRate Power Systems.

AccelRate's proprietary charging technology functions effectively with batteries of all conventional chemistries and sizes in industrial, portable, power tool, military and transportation applications. AccelRate's technology provides customers with up to 80% decreased charging time, increased battery lifetime due to improved heat management, and decreased energy use. AccelRate® SC "High-Speed" battery chargers are commercially available today for the motive power market.

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

ACCELRATE POWER SYSTEMS INC.

Reimar Koch, President and CEO

This new 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 statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not undertake any duty 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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