Tonbridge Power Inc.

Tonbridge Power Inc.

November 30, 2006 09:00 ET

Tonbridge Power Inc. Provides Quarterly Financial Results

TORONTO, ONTARIO--(CCNMatthews - Nov. 30, 2006) - 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 three month period from July 1, 2006 to September 30, 2006. Net loss for the three months was ($0.005) 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 November 28, 2006 and the following highlights to this date were:

Significant Highlights

- The Company has completed negotiations for financing for most of the Project development elements including funding for certain long lead item deposits, and placed a letter of credit with AltaLink as payment security. The Company is in the process of finalizing the definitive agreements for the development loan facility;

- The Company has executed a conditional term sheet for senior project finance;

- Alberta Electricity System Operator ("AESO") filed the final Needs Application with Alberta Energy Utilities Board ("AEUB") on the Company's behalf;

- Substantial progress has been made with all regulators on the Company's regulatory filings, with several public consultation processes commenced, scheduled or nearing completion;

- Substation contracts were awarded to SNC Lavalin ATP ("SNC"), and Power Engineers, to complete engineering, procurement and construction ("EPC") requirements for the Lethbridge and Marias substations;

- A bankable corporate guarantee was tendered in support of contracted revenues for a rolling twelve month time period in respect of the 300 MWs of northbound transmission shipping rights previously awarded in July 2006;

- The Montana Department of Environmental Quality ("MDEQ") received a consultant's report on Company's environmental impact study. No material adverse findings were noted;

- Construction is scheduled to commence in early 2007; and

- Net loss of $929,502 for three months ending September 30, 2006.

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 6, 2005 and are traded under the symbol "TBZ".

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Cautionary Note Regarding Forward-Looking Statements

This news release contains "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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