Magplane Appoints Larry Roderick as President and CEO

LITTLETON, Mass., Feb. 19  /PRNewswire-FirstCall/ -- Magplane Technology, Inc. (Pink Sheets: MAGP) announced today the appointment of Mr. G. Larry Roderick as President and CEO of the Company. Mr. Roderick has been an active member of the Magplane Board of Directors since 2001.

Before joining Magplane, Mr. Roderick was President and CEO of k-Technology Corporation (kTC), a high-tech start up that he transitioned into a multi-faceted producer of high-performance thermal management products for aerospace, naval and industrial applications. Prior to kTC, Mr. Roderick was a Corporate Vice President at SPD Technologies, where he expanded the company's $200 million defense business to mass transit rail markets through international agreements. Prior to SPD, Mr. Roderick was President and CEO of Kaman Electromagnetics Corporation (KEC), an early stage technology company that he grew into a $20 million producer of electric propulsion systems and oil drilling equipment.

Mr. Roderick brings to Magplane extensive experience and a disciplined approach to building and growing technology companies. Magplane expects to benefit significantly from his leadership at this crucial point in its goal of becoming a global leader in high-tech transportation technologies.

"Larry has hands-on experience in transforming early stage companies into multi-million dollar, internationally recognized enterprises," said Magplane Chairman of the Board and Chief Technical Officer, Dr. D. Bruce Montgomery. "While we have benefited from Larry's expertise as a member of our Board for years, we are now thrilled to retain him full-time. His deep knowledge of the international rail and transportation markets are tremendous assets as we build the MagPipe business in Inner Mongolia's mining industry and secure opportunities to bring MagPipe and MagPlane passenger trains into high-growth global economies. While I will remain Chairman of the Board, Larry's new role as President and CEO will enable me to dedicate the majority of my energy to the technical side of the business as Chief Technology Officer, creating a well-rounded leadership team."

About Magplane Technology, Inc.

Founded by a group of MIT engineers, Magplane Technology, Inc. (MTI) is the developer of the Magplane system, an innovative magnetic levitation (maglev) transportation system that offers significant advancements over other high-speed trains and light-rail transit systems. Magplanes can achieve speeds up to 500 km/hour for inter-city travel and nearly silent operation for urban mass transit systems. The Magplane system has also been adapted for use in a unique pipeline application that can reduce the cost and pollution from diesel trucks used in transporting material from mining operations.

For more information on the Company, visit http://www.magplane.com/. For investor relations, please visit http://www.otcfn.com/magp.

Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such proclamations about the Company's future expectations, including future revenues and earnings, technology effectiveness and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

   CONTACT:

   Jason Mill
   Magplane Technology, Inc.
   

   or

   Rick McCaffrey, Investor Relations
   OTC Financial Network
   781-444-6100 x 625
   

DATASOURCE: Magplane Technology, Inc.



CONTACT:  Jason Mill of Magplane Technology, Inc., ;

or Investor Relations, Rick McCaffrey of OTC Financial Network,

[phone], ext. 625, , for Magplane Technology, Inc.



Web site:  http://www.magplane.com/

http://www.otcfn.com/magp 

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