Vector Wind Energy Inc.
TSX VENTURE : VWE

Vector Wind Energy Inc.

July 15, 2005 11:56 ET

Vector Signs Joint Development Agreement in Quebec

OTTAWA, ONTARIO--(CCNMatthews - July 15, 2005) - Vector Wind Energy Inc. (TSX VENTURE:VWE) announced today that it has entered into an agreement with a private venture capital firm to jointly fund up to $1.0 million of wind development expenditures in Quebec. "This agreement will help us expand our activities in one of the fastest growing markets for wind development in North America." said Brian Barr, President of Vector. "These expenditures will be focused on development targets previously identified through wind resource assessment work and interconnection studies performed by Vector last winter." said Mr. Barr. The money will be disbursed in stages over the next 12 months as certain milestones are achieved. The parties will share equally any benefits created by this work.

Vector is a developer of wind energy projects in Canada. It is currently active in 6 provinces and Nunavut with 13 projects at various stages of exploration and development. These projects have the potential to support over 500MW of wind energy capacity.

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

Certain statements in this press release may constitute forward looking statements which relate to future events. Words such as "should" "believes", "expects", "intend", "anticipates", "potential" or similar expressions are indicative of forward looking statements. Future events described in forward looking statements are subject to various risks and uncertainties and may not transpire as predicted. Please refer to our publicly filed documents for a more complete discussion of risk factors to which our company is subject.

Shares Outstanding: 13,488,634

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

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