SOURCE: SolarBrook Water and Power Corporation

July 09, 2008 09:09 ET

SolarBrook Water and Power Corporation Announces Settlement Agreement on Class Action

RALEIGH, NC--(Marketwire - July 9, 2008) - SolarBrook Water and Power Corporation (PINKSHEETS: SWPC), a developer, manufacturer and marketer of water quality and clean power products, today announced a settlement agreement related to a class action complaint filed against the company in November 2005.

The class action was settled for the principal sum of $425,000, plus interest, and the settlement agreement calls for 12 monthly payments of approximately $35,967.

"We are pleased to have reached a settlement that we believe will not materially impact the business of the company and its subsidiaries," stated George Moore, CEO of SolarBrook Water and Power Corporation. "With this now behind us, the company looks forward to reporting additional progress in the execution of its business strategy, especially as the need for clean water and power solutions worldwide becomes even more urgent."

SolarBrook recently announced several pending projects, including joint venture negotiations for a project in China, a pending new sale through its distributor, Resource Management Technologies, LLC, and negotiations for a new reseller agreement with a Canadian marketing company. More information on the status of each of these projects is expected in the coming weeks.

About SolarBrook Water and Power Corporation

SolarBrook Water and Power Corporation, headquartered in Raleigh, North Carolina, maintains a core focus of seeking out synergistic acquisitions that will provide capital appreciation and income for its portfolio companies. The mission of SolarBrook is to acquire and develop innovative technologies and businesses that will improve the quality of water throughout the world by means of detection, treatment and removal of contaminants. SolarBrook also seeks to provide integrated clean power alternatives for remote and off-grid systems, further expanding market potential.

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Forward-Looking Statements

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 statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

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