Plutonic Power Corporation
TSX : PCC

Plutonic Power Corporation

May 15, 2008 15:07 ET

Plutonic Power Announces Resolution Results from Annual General Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 15, 2008) - Plutonic Power Corporation (TSX:PCC) held its 2008 Annual General Meeting in Vancouver on May 14, 2008. Resolutions passed at the meeting were:

- Reappointment of KPMG LLP as auditors for Plutonic Power for the ensuing year

- Re-election of Plutonic's existing Board of Directors, who are:

Walter Segsworth

Donald McInnes

Stuart ("Tookie") Angus

Peter Flynn

Grigor Cook

Michael Volker

William Lindqvist

- Approval of the amendment of Plutonic's stock option plan, from a fixed plan to a 10% rolling plan

"2008 will be an exciting year for Plutonic Power as we continue to move the vision of building out our Green Power Corridor closer to reality and move BC away from its reliance on non-renewable imported energy," said Vice-Chair and CEO Donald McInnes. "We are pleased that our current Board members will continue to provide governance and leadership for us through 2008 and appreciate their personal commitment to the success of Plutonic."

An update on Plutonic was presented at the AGM, a copy of which is posted on Plutonic Power's website at http://www.plutonic.ca/s/Presentations.asp.

About Plutonic Power Corporation

Plutonic Power's vision is to provide leadership and create a legacy through the development of renewable, reliable, made-in-BC clean energy. Its proposed Green Power Corridor, comprised of 40 facilities, including the flagship $660 million, 196 MW East Toba River/Montrose Creek run-of-river project currently under construction, have the design capacity to generate enough energy to meet the annual needs of about 630,000 homes and create approximately 5,500 person years of employment. Once built, the Green Power Corridor could offset an estimated 4 million tons of CO2 emissions every year - the equivalent to taking as many as 650,000 vehicles off the road. Plutonic is committed to working in partnership with First Nations, stakeholder groups and local communities in the development of all its run-of-river projects. By developing its suite of projects, Plutonic Power will help British Columbia realize its goal of becoming electricity self-sufficient by 2016, meet demand utilizing 90% clean domestic generation sources and will play a significant role in the fight against climate change.

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf.

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

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