March 30, 2005 08:50 ET

Battery & Wireless Solutions Completes BWS Income Fund Limited Partnership




MARCH 30, 2005 - 08:50 ET

Battery & Wireless Solutions Completes BWS Income Fund
Limited Partnership

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 30, 2005) -

Total Financings Raise $1.027 Million

The Board of Directors of Battery & Wireless Solutions Inc. (the
"Company") (TSX VENTURE:BWS) is pleased to announce that effective March
7, 2005 the General Manger of the BWS Business Income Fund Limited
Partnership advised the Company that the Limited Partnership had closed
and secured a total of $702,000. These funds have been advanced to the
Company and will be used for working capital purposes, pursuant to a
loan agreement that will be filed with the TSX Venture Exchange for
regulatory approval.

Several potential subscribers to the fund sought a direct equity
investment in the Company as an alternative to the Limited Partnership,
and as a result the Company completed and closed a $325,000 Private
Placement as announced on March 16, 2005.

The closing of the fund along with the Private Placement increases the
total capital raised under this initiative to secure working capital for
the Company to a total of $1,027,000.

The terms of the loan agreement for the Limited Partnership to the
Company were previously disclosed on January 25, 2005. These terms
provided, subject to regulatory approval, for a payment of a fixed
return of 12% on invested capital, a variable return of 3/4 of 1% on the
incremental growth in gross revenue from a base of $16 million annually.
Additionally, a bonus of 637,500 shares is provided for in accordance
with Exchange Policy 5.1 (2). The bonus was calculated at a deemed price
of $0.20 per share. The gross proceeds of the loan, being $702,000 are
convertible at the option of the Limited Partner in whole or in part, at
a price of $1.00 per share, which would result in the issuance of
702,000 shares of the Company, if converted.

The funds secured pursuant to the Limited Partnership offering and the
related Private Placement will be utilized to provide additional working
capital for expansion of the Company's business activities in eastern
Canada and for growth in inventory throughout the consolidated business.

The Company wishes to thank subscribers to both offerings and invite
comments or questions to the contacts listed below.

The Company also announces it has entered into a shares for debt
settlement with its legal firm, McLeod & Company LLP for fees related to
past legal services. The Company will issue 150,000 at a price of $0.20
in settlement of $30,000. This transaction is subject to regulatory
approval, which has been sought.

About Battery & Wireless Solutions Inc.

Battery & Wireless Solutions Inc. (TSXV: BWS) is Canada's largest
independent distributor of battery and battery-related products. Through
its core business units, Magnacharge Battery Corporation and Battery
World Canada Corp., Battery & Wireless Solutions brings together the
infrastructure needed to offer an efficient, nationwide distribution
network that touches every type of customer from large-scale
distributors to end-user consumers. It is the only company in Canada
offering a comprehensive range of products that fulfills every battery
need including industrial, automotive, deep-cycle, marine, motorcycle,
portable devices and more, featuring Duracell, Delphi, Trojan, Rayovac,
and Panasonic as well as the Company's own branded line of batteries
such as Magnacharge and Giant. For more information please visit

On behalf of the Board of Directors,


Les Granholm, President & CEO

Forward Looking Information

Certain statements in this release, other than statements of historical
fact, are forward-looking information that involves various risks and
uncertainties. These can include, without limitation, statements based
on current expectations involving a number of risks and uncertainties
related to all aspects of the industry. These risks and uncertainties
include, but are not restricted to, continued increased demand for the
Company's products and the Company's ability to attract and maintain key

These uncertainties may cause actual results to differ from information
contained herein. There can be no assurance that such statements will
prove to be accurate. Actual results and future events could differ
materially from those anticipated in such statements. These and all
subsequent written and oral forward-looking statements are based on the
estimates and opinions of management on the dates they are made and
expressly qualified in their entirety by this notice. The Company
assumes no obligation to update forward-looking statements should
circumstances or management's estimates or opinions change.


Contact Information