SOURCE: Magplane Technology, Inc.

April 25, 2007 09:29 ET

Magplane Pipeline Technology, Inc. Signs Framework Agreement With Inner Mongolia Totaling 80 Million Dollars

BEDFORD, MA -- (MARKET WIRE) -- April 25, 2007 -- Magplane Pipeline Technology, Inc., a wholly owned subsidiary of Magplane Technology, Inc. (PINKSHEETS: MAGP), announces the signing of a Framework Agreement of Co-operation with the People's Government of Inner Mongolia Autonomous Region.

The agreement commits the Government to form a Joint Venture between a mutually agreed State-owned entity and MPTI and to award the JV at least 200km of commercial pipeline contracts in several phases. The first two commercial lines have been selected totaling an estimated $80M in revenue. As part of the agreement, the Magplane Pipeline Project will be designated as one of a select number of "Key Technology" programs to be pursued within Inner Mongolia. Design work for Phase one is to commence immediately.

Approximately 17% of China's annual coal production comes from Inner Mongolia and Magplane Pipeline Technology, Inc.'s MagPipe system has captured the attention of government officials and industrial enterprises involved in the production, transportation, and use of coal.

Yang Liu is quoted in Xinhua News, saying, "At present the coal transportation is a difficult problem that needs an urgent solution." A translation and link to the Xinhua article is available on the Magplane web site at www.magplane.com.

About Magplane Technology, Inc.

Magplane Technology, Inc. (MTI) is the developer of the Magplane system, an innovative magnetic levitation transportation system that offers significant advancements over other high-speed trains and light-rail transit systems. Magplanes can achieve speeds up to 500 km/hour for inter-city travel and nearly silent operation for urban mass transit systems. The Magplane system has also been adapted for use in a unique pipeline application that can reduce the cost and pollution from diesel trucks used in transporting material from mining operations. Based in Bedford, Massachusetts, USA, the company was founded in the mid-1990s by a group of MIT engineers who developed the Magplane concept.

Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such proclamations about the Company's future expectations, including future revenues and earnings, technology effectiveness and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

For the latest news and information please visit Magplane on the world-wide web at http://www.magplane.com/inves_news.asp

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