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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: AccelRate Power Systems Inc. Reimar Koch [phone] [phone] (FAX) [e-mail]