SOURCE: Viking Power Services, Inc.

November 13, 2007 08:00 ET

Viking Power Services, Inc. Announces Success of American Boiler and Pipe Maryland Office; Announces Corrections to 2006 Reported Results

MANALAPAN, NJ--(Marketwire - November 13, 2007) - Viking Power Services, Inc. ("Viking," "the Company") (PINKSHEETS: VKPW) today announced year-to-date revenues and operational updates of its American Boiler and Pipe ("ABP") Maryland office.

In late 2006, American Boiler and Pipe, a subsidiary of Viking Power Services, announced the creation of its Maryland office to take advantage of the potential opportunities presented in the municipal, industrial, and commercial markets in Maryland and surrounding areas. Maryland has over 30 active power plants, generating a total of approximately 13,300MW according to 2006 figures from the Maryland Power Plant Research Program. As Viking Power Services has identified a national shortage of skilled labor in the areas of power plant maintenance and repair, ABP Maryland is positioned as an experienced mechanical contractor to fill these deficiencies and help the greater Maryland region meet increasing energy demand.

On a year-to-date basis, the Maryland office has booked 2007 revenues of over $725,000 across 14 customers. On average, each project was in excess of $50,000 with the largest totaling over $120,000. The company anticipates additional revenue throughout the end of the year.

"We've been very pleased with the revenue results of our Maryland ABP office," stated Ray Mancison, CEO of Viking Power Services. "We're an emerging growth company that is quickly becoming a critical service component for power producers and utilities. The needs of the customers we're now working with demonstrate how much potential this market really has. The success of the Maryland office in its first operational year indicates that the company's expansion model works as we continue to pave the way for future growth."

The company also announced revisions to statements regarding its preliminary 2006 operating results. For year-ended 2006, the company had earlier announced results based on financial statements prepared for the company and the guidance of management using available information at that time. While the statements were valid based on the private partnership accounting and tax reporting purposes they were created for, it was later determined that they do not meet the generally accepted accounting principles (GAAP) requirements of listing standards or the expectations of management going forward. Under the company's commitment to enhance shareholder value and transition Viking from the Pink Sheets to the Over- the-Counter Bulletin Board (OTCBB), it was necessary to revisit these statements under GAAP-based standards. On a GAAP basis (unaudited), the company would have reported a net loss of $1.2M, or ($.04) per share, on revenues of $4.0M for 2006. The Company is in the process of engaging an audit firm; these results are subject to final review and audit.

To assist management in the Company's transition from a private partnership, the company has retained Mr. Raymond Wright, CA, to serve as the company's acting Chief Financial Officer and to oversee all financial, accounting and reporting functions. Mr. Wright has a diverse and successful executive career, serving with established national and international companies like Nabisco Brands USA (CFO, 1981-1985), Nabisco Brands International (Senior VP, 1985-1989), and Tambrands, Inc (CFO/CIO 1989- 1996).

About Viking Power Services, Inc.:

Viking Power Services, Inc. is an emerging company that is committed to providing a single-source solution for all maintenance and repair services within the energy provider and plant maintenance infrastructure. Through strategic acquisitions and specialized partnerships the company will continue to deliver expert repair and maintenance services to power producers throughout the US.

Safe Harbor Statement: The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. This press release contains forward-looking statements. The words or phrases "may," "intends," "expects," "estimate," "indicate," "plans," "anticipates," "could," "if," "will," "should" or similar expressions are intended to identify "forward-looking statements." Such statements include those concerning our expected financial performance, our corporate strategy and operational plans. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties, including: (a) our ability to obtain financing in a timely manner and on terms favorable to us, (b) our ability to completely develop our business model, (c) the amount and timing of operating costs and capital expenditures relating to the expansion of our business, (d) the successful implementation of marketing programs directed to potential customers, (e) the ability to identify, negotiate, secure, fund and close potential acquisitions, (f) the ability to identify and enter into favorable strategic alliances; (g) the marketing and sales efforts of our competitors; (h) changes in various sectors that affect our industry and (i) general economic conditions. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Viking Power cautions readers not to place undue reliance on such statements. Unless otherwise required by applicable law, Viking Power does not undertake, and Viking Power specifically disclaims any obligation to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.

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