Tonbridge Power Inc.

Tonbridge Power Inc.

April 13, 2007 09:00 ET

Tonbridge Power Inc. Provides Annual Financial Results

TORONTO, ONTARIO--(CCNMatthews - April 13, 2007) - Tonbridge Power Inc. (TSX VENTURE:TBZ) ("Tonbridge" or the "Company"), 100% controlling shareholder of the Montana Alberta Tie Ltd. transmission line project to interconnect the electricity markets of Alberta and the US through a 300 MW transmission line, today announced financial results for the twelve month period from January1, 2006 to December 31, 2006. Net loss for the twelve months was ($0.020) per share. Tonbridge's complete financial statements, management discussion and analysis and annual information form can be viewed on SEDAR at or on the Corporation's website at

The Management Discussion and Analysis was prepared as at April 4, 2007 and the following highlights to this date were:


- Received Permit to construct transmission line from National Energy Board ("NEB")on April 4, 2007

- Completed second open season and accepted bids for 300 MWs southbound and 120 MWs northbound, resulting in rated capacity totally reserved

- Contract for 300 MWs northbound now unconditional and northbound shippers provided bankable guarantee for the contract terms

- Filed all other necessary regulatory applications which were accepted by the respective regulator, and issued for public comment

- Completed equity financing for $17,250,345 in total proceeds

- Completed development financing for $9 million in December, 2006

- Signed term sheet for senior project finance debt and placed required security agreements and guarantees in place to support development loan and facilitate senior project finance

- Executed Engineering, Procurement and Construction ("EPC")agreements for all elements of the Project and substations

- Completed procurement process for all construction elements, bids being evaluated for acceptance

- Phase shifting transformer built, tested, and ready for shipping. $8.5 million paid to date

- Acquired options for 99% of the required land in Alberta and 68% in Montana needed for the Project, and obtained options to buy and lease two parcels required for the Lethbridge and Marias substations respectively

- Acquired remaining 35% of MATL for 35,929,000 common shares

- Net loss for the year $(3,372,788)

Tonbridge is a Toronto-based investor in power projects, whose principle asset is the 100% controlling interest in Montana Alberta Tie Ltd. Shares of Tonbridge became publicly listed on the TSX Venture Exchange on July 7, 2005 and are traded under the symbol "TBZ".

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Cautionary Note Regarding Forward-Looking Statements

This news release may contain "forward-looking statements", within the meaning of applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of the Company. Forward-looking statements include, but are not limited to, statements with respect to future revenues. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "should", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the conditionality of the revenue contracts, risks related to the financing or construction of the transmission line; risks related to the performance of parties contracting for transmission capacity; delays in obtaining governmental approvals, permits or project financing or in the completion of development or construction activities, requirements for additional capital, government regulation, environmental risks as well as those factors discussed in the section entitled "Risk Factors" in the Company's Annual Information Form for the year ended December 31, 2005, available on Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

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

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