AccelRate Provides Update on Change of Business

AccelRate Power Systems Inc. (TSX VENTURE:AXP) issued a news release on November
24, 2010 announcing a proposed property option which will constitute a Change of
Business ("COB") pursuant to Policy 5.2 of the TSX Venture Exchange. Pursuant to
clause 2.2(c) of Policy 5.2, the Company is required to issue a news release
every 30 days following its initial news release, to update the status of the
COB. 


AccelRate advises that there has been no change to the status of the COB. The
Company has made required filings in accordance with Exchange Policy and
anticipates those filings will be reviewed in the ordinary course once the
Exchange has dealt with the current rush of year end financings and other tax
driven transactions. The Company expects that trading in AccelRate shares will
be reinstated following Exchange review of the initial filings. It will then
proceed to complete arrangements for equity financing and to make final filings
with the Exchange. 


The TSXV has in no way passed upon the merits of the proposed COB and has
neither approved nor disapproved the contents of this press release.


ON BEHALF OF THE BOARD

Reimar Koch, President

AccelRate Power Systems Inc.