AccelRate Announces Non-Brokered Private Placement to Raise Up to $530,000

AccelRate Power Systems Inc. (TSX VENTURE:AXP) (the "Company") has retained the
services of Aberdeen Gould Capital Markets Ltd., an Exempt Market Dealer (the
"EMD"), to arrange a non-brokered private placement consisting of up to
1,000,000 common shares of the Company at the price of $0.53 per share to raise
gross proceeds of up to $530,000.


Completion of the offering is subject to TSX Venture Exchange acceptance. The
Company has agreed to pay the EMD a cash finder's fee equal to 8% of the gross
proceeds derived from the offering and, in addition, to issue finder's warrants
exercisable to purchase that number of common shares which is equal to 8% of the
total number of shares issued by the Company pursuant to the offering. The
finder's warrants relating to the offering will be exercisable for five years
after closing at the price of $0.56. All securities issued pursuant to the
offering will be subject to a four-month hold period from the closing date. The
proceeds from the offering will be used for general working capital.


ON BEHALF OF THE BOARD

Reimar Koch, President, AccelRate Power Systems Inc.