AccelRate Power Systems Inc.

AccelRate Power Systems Inc.

October 30, 2006 16:36 ET

AccelRate Closes $263,500 Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 30, 2006) - AccelRate Power Systems (TSX VENTURE:APS)(FWB:KCG), the technology leader in "High-Speed" battery chargers, is pleased to announce that it has completed the non-brokered private placement of 878,334 units announced on October 12, 2006, realizing gross proceeds of $263,500. Each Unit is comprised of one common share and one warrant exercisable to purchase one additional common share in the capital of the Company at $0.35 until October 27, 2007.

All shares issued in connection with the private placement and any shares issued on exercise of warrants comprised in those units will be subject to a four month hold period expiring February 27, 2007.

Proceeds from the placement will be used as the working capital for the operation of the Issuer's business, launch new products and execute its sales and marketing efforts.

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 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).


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 anny 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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