Tonbridge Power Inc. Provides Q3 Financial Results

Tonbridge Power Inc. (TSX VENTURE:TBZ) ("the Corporation"), 100% controlling
shareholder of the Montana Alberta Tie Ltd. ("MATL") transmission line project
to interconnect the electricity markets of Alberta and the US through a 300 MW
transmission line, today announced financial results for the three month period
from July 1, 2009 to September 30, 2009. There was a net loss on a per share
basis of ($0.004). The total loss for the three months ended September 30, 2009
was $(1.1M). 


"The Corporation is now in Phase 1 construction on MATL, and actively begun work
on Project 2 and the MATL upgrade." said Johan van't Hof, President and CEO. 


Significant Highlights

Construction and Term Financing Closed - On October 27, 2009, the Corporation
executed final documentation with Western Area Power Administration ("Western"),
a power marketing agency of the U.S. Department of Energy, for a US$161 million
loan facility (the "Construction Loan Facility"). The Construction Loan Facility
is being made available to the Corporation pursuant to the US Recovery Act and
will be used to fund the construction of the Tonbridge Power Line. 


Notice to Proceed - On October 29, 2009, following the execution of the
Construction Loan Facility, the Corporation issued a Notice to Proceed to Rocky
Mountain Contractors Inc. to proceed with the construction of the Project
pursuant to the terms of the amended and restated fixed price engineering,
procurement and construction contract with Rocky Mountain Contractors dated
October 9, 2009. 


Share Consolidation - On November 4, 2009, the Corporation held a special
meeting of its shareholders at which its shareholders approved the consolidation
of the issued and outstanding Common Shares on the basis of one new Common Share
for every 10 existing Common Shares. The Corporation filed Articles of Amendment
on November 4, 2009 to effect the consolidation of the Common Shares. The Common
Shares began trading on a post-consolidated basis on the TSX-V on November 6,
2009. 


Project 2 - On November 5, 2009 the Corporation entered into an agreement with
Gaelectric North America Inc. ("Gaelectric") to begin detailed feasibility work
for the potential construction of a new power transmission line ("Project 2")
that would connect the Tonbridge Power Line with the 500 kV Colstrip
transmission line (the "Colstrip Line") at or west of Townsend or Garrison,
Montana. If the results of the feasibility work are favourable, it is expected
that the Corporation and Gaelectric will enter into a development agreement. If
Project 2 is constructed, it could result in, among other things, an upgrade in
capacity on the Tonbridge Power Line to an estimated effective rate of 500-550
MW at acceptable line-loss performance. While the Corporation has applied for
two interconnections with the Colstrip Line, the determination of any routing
for Project 2 will depend on a number of factors, including the results of the
feasibility work. 


Supreme Court Leave to Appeal Denied - On May 5, 2009, the Alberta Court of
Appeal dismissed an appeal by certain landowners of the Alberta Energy and
Utilities Board's decision to grant MATL a permit to construct, and a license to
operate, the Tonbridge Power Line. On August 5, 2009, three of the appellants
filed an application with the Supreme Court of Canada for leave to appeal the
Alberta Court of Appeal's decision. On October 22, 2009, the Supreme Court
dismissed the application for leave to appeal and awarded costs to each of the
respondents, including MATL. 


Tonbridge Power Inc. is a Toronto-based developer of electrical transmission
assets, whose principal asset is a 100% interest in Montana Alberta Tie Ltd.
Shares of the Company became publicly listed on the TSX Venture Exchange on July
7, 2005 and are traded under the symbol "TBZ". The Company's financial
statements and other filings can be found on SEDAR. 


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Cautionary Note Regarding Forward-Looking Statements 

This news release contains "forward-looking statements", within the meaning of
applicable Canadian securities legislation, concerning the business, operations
and financial performance and condition of the Company. Forward-looking
statements include, but are not limited to, statements with respect to future
revenues. Generally, these forward-looking statements can be identified by the
use of forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or variations
of such words and phrases or state that certain actions, events or results
"may", "could", "should", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be materially different
from those expressed or implied by such forward-looking statements, including
but not limited to: the conditionality of the revenue contracts, risks related
to the financing or construction of the transmission line; risks related to the
performance of parties contracting for transmission capacity; delays in
obtaining governmental approvals, permits or project financing or in the
completion of development or construction activities, requirements for
additional capital, government regulation, environmental risks as well as those
factors discussed in the section entitled "Risk Factors" in the Company's Annual
Information Form for the year ended December 31, 2005, available on
www.sedar.com. Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements. The
Company does not undertake to update any forward-looking statements that are
incorporated by reference herein, except in accordance with applicable
securities laws.