Magplane CTO Returns to France for Multi-Billion Dollar International Joint Project ITER Magnet System Review Committee

BEDFORD, Mass., July 5  /PRNewswire/ -- Dr. Bruce Montgomery, Chairman and Chief Technology Officer of Magplane Technology, Inc. (Pink Sheets: MAGP), returned to France this week to continue the magnet system review for the international nuclear fusion experimental reactor.

Dr. Montgomery sits on the review committee as one of four outside experts asked to review the magnet systems for the fusion reactor to be built in Southern France. The experimental reactor, called ITER, is a multi-billion dollar joint project between seven parties that include the European Community, Japan, China and Russia. Dr. Montgomery led the US magnet design team working on ITER prior to leaving the Massachusetts Institute of Technology in 1996 to join the private sector.

Magplane's passenger and pipeline systems rely on advanced magnetic technology to create strong levitation and propulsion forces to significantly improve the speed and capacity of transportation systems for people and materials.  Magplane's recently announced agreements in Inner Mongolia to apply its pipeline technology to coal transportation will substantially reduce the cost and pollution associated with the use of diesel trucks.

Montgomery said, "It's an honor to be selected for an ITER review committee.  The magnet systems are a crucial component of fusion reactors and are equally important in the Magplane system.  Magnetic drive and control systems allow Magplane to design efficient and cost effective pipelines to transport dry materials that are normally transported with diesel trucks. Diesel fuel is one of the most significant environmental pollutants so a reduction in diesel consumption will improve air quality and help to reduce global warming."

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. Most recently, Magplane signed agreements with Inner Mongolia initially worth $80 Million to build commercial pipeline infrastructure for transporting the region's coal production.

For more information, visit http://www.magplane.com/.

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:
  For Investor Relations
  Rick McCaffrey
  OTC Financial Network
  781-444-6100x621
  
  http://www.otcfn.com/magp

  At the Company:
  Jason Mill
  Magplane Technology, Inc.
  

DATASOURCE: Magplane Technology, Inc.



CONTACT:  investor relations, Rick McCaffrey of OTC Financial Network,

[phone], ext. 621, , for Magplane Technology, Inc.; or

Jason Mill of Magplane Technology, Inc., 



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

http://www.otcfn.com/magp 

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