Magplane Technology CEO Issues Update to Shareholders

LITTLETON, Mass., May 20  /PRNewswire-FirstCall/ -- Magplane Technology, Inc. (Pink Sheets: MAGP) recently issued a letter to shareholders from President and CEO Mr. G. Larry Roderick.

Mr. Roderick reports that the development of Magplane's Joint Venture (JV) in Inner Mongolia is proceeding as planned and, half-way through their initial $1.9 million design contract, the demonstrated capabilities of the JV and the local partners are already exceeding expectations.

Roderick announced that an enhanced long-life component testing program has commenced and is proceeding in parallel with the 1km demonstration in order to meet customer requirements to begin commercial deployment in 2009.

In the letter Roderick outlines Magplane's priorities over the next 12 months:

  -- Complete the design and demonstration of a commercial MagPipe system
     for coal transportation that is reliable and economically superior to
     truck transportation.
  -- Develop the JV facilities and enable sub-contractor manufacturing in
     Inner Mongolia.
  -- Launch the first commercial MagPipe project in Inner Mongolia.
  -- Complete the previously announced merger of the MagPipe business unit
     with IM-MAG.
  -- Become a fully reporting company.




The full text of the letter to shareholders is available on the Magplane's web-site at http://www.magplane.com/inves_news.asp and the latest photos can be seen in the media and photo gallery at http://www.magplane.com/Media.htm

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. The Magplane system has 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.

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. 

DATASOURCE: Magplane Technology, Inc.



CONTACT:  Rick McCaffrey, Investor Relations of OTC Financial Network,

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



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

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