Tonbridge Power Inc.

Tonbridge Power Inc.

April 05, 2007 16:01 ET

Tonbridge Power Inc. Announces Employee Bonus Share Plan

TORONTO, ONTARIO--(CCNMatthews - April 5, 2007) - Tonbridge Power Inc. (TSX VENTURE:TBZ) ("Tonbridge") listed on the TSX Venture Exchange as TBZ, sole shareholder of the Montana Alberta Tie Ltd. ("MATL") transmission line project, is pleased to announce today the implementation of an Employee Bonus Share Plan to reward members of the MATL project team.

The implementation of this plan is made possible as a result of an amendment to the Share Purchase Agreement previously announced on March 20, 2006 and closed on April 27, 2006. There was a provision in the original Share Purchase Agreement whereby the vendors would receive, up to 6,000,000 Tonbridge Power Inc. shares as a bonus if certain conditions relating to the budget, construction and completion of the transmission line project were met. As at the current date, there only remains an obligation on the part of Tonbridge to issue 2,000,000 Bonus shares in the event that the final cost of the transmission line does not exceed 5% of the Board's approved control budget. The conditions for the remaining 4,000,000 were not met and these shares are no longer eligible for issuance.

Pursuant to the amendment, the 2,000,000 bonus shares reserved to be issued to the vendors has been reduced to 1,500,000. The residual 500,000 bonus shares would be issued to the MATL project team for meeting the same condition.

Johan van't Hof, Tonbridge Power CEO commented, "We are very pleased with this revised plan as it affords us an opportunity to further recognize and reward the critical contributions made by our project team".

For further information regarding the regulatory process reference the Tonbridge Power Inc. news release issued March 7, 2006 or visit

Tonbridge Power Inc. is a Toronto-based investor in power projects, whose principle asset is the 100% controlling interest in Montana Alberta Tie Ltd. MATL is a project designed to interconnect the electricity markets of Alberta and the US through a 300MW, 230kV-240kV transmission line. Shares of Tonbridge became publicly listed on the TSX Venture Exchange on July 6, 2005 and are traded under the symbol "TBZ".

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