Vector Wind Energy Inc.
TSX VENTURE : VWE

Vector Wind Energy Inc.

August 10, 2006 16:29 ET

Vector Makes Progress in Atlantic Canada

OTTAWA, ONTARIO--(CCNMatthews - Aug. 10, 2006) - Vector Wind Energy Inc. ("Vector" or the "Company") (TSX VENTURE:VWE) is pleased to announce that its 15 Megawatt ("MW") project at Fairfield, New Brunswick was selected by NB Power to be on the 'short-list' of projects eligible to participate in its tender call for wind energy issued on August 3, 2006. The short list was derived from proposals submitted to a Request for Expressions of Interest issued by NB Power in October 2005. Vector's final proposal to NB Power is due on August 28th, 2006. The Company expects NB Power to award a contract within eight weeks of that date.

In Newfoundland, Vector expects to tender a final development proposal in respect of its 25 Megawatt Fermeuse project on August 31, 2006. Newfoundland & Labrador Hydro is expected to announce the successful bid on September 29th, 2006.

Should Vector be successful in securing either of these tenders, construction could begin as early as the third quarter of 2007.

Vector is a developer of wind energy projects in Canada. Currently Vector has 23 active project areas around the country at various stages of exploration and development. These projects have the potential to support over 1,000MW of wind energy capacity.

More information on the Company can be obtained at www.sedar.com.

Words such as "should", "believes", "expects", "intends", "anticipates", "potential" or similar expressions in this document connote forward looking statements which predict the outcome of future events. Future events are subject to various risks and uncertainties which may cause actual outcomes to differ materially from that predicted by such forward looking statements. Please refer to our publicly filed documents for a discussion of various risk factors to which our Company is subject and which may affect materially the outcome of future events.

Shares Outstanding: 17,714,687

The TSX Venture Exchange has in no way passed upon the merits of any transaction described in this press release and has neither approved nor disapproved its contents.

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