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BURNABY, BC, Aug. 11 /CNW/ - Legend Power Systems Inc. (TSX.V: LPS)
("Legend Power" or "the Company") today announced the appointment of Mr.
Michael Costello to its Board of Directors, effective immediately.
Michael Costello brings to the board a wealth of business experience and
leadership skills. He is a former President and CEO of the BC Transmission
Corporation and President and CEO of BC Hydro and Power Authority. Michael has
served on over 20 boards and councils, including the Ontario Power Authority,
the Vancouver Island Health Authority, Energy Council of Canada, Canadian
Electricity Association and the Vancouver Board of Trade.
"We're fortunate to attract someone of Michael's experience and caliber
to our board," says Legend Power Chairman and CEO, Gerry Gill. "Michael will
play an important role and his experience, background and network will be a
tremendous asset to our team."
Michael also serves as a sessional lecturer at the School of Public
Administration at the University of Victoria. Michael was the Consumers'
Choice Award recipient in Vancouver 2003 for the Businessman of the Year and
selected as one of Vancouver's Top 100 Influential Business Persons in 2004.
"Coming from the energy sector, I recognize the potential and believe
strongly in Legend Power's proposition," says Michael Costello, Director,
Legend Power. "I am delighted to join the board and I look forward to playing
a part in its continued growth and success."
About Legend Power Systems Inc.
Legend Power Systems Inc. is a leading electrical energy conservation
company that manufactures and markets a patented device to help commercial and
industrial customers achieve significant energy savings through voltage
optimization. Legend Power's Electrical Harmonizer-Automatic Voltage Regulator
(AVR) eliminates inefficiencies by delivering the optimal level of voltage a
user needs. Most customers receive higher voltage levels than required at
certain points of the grid from electrical utilities. Higher than nominal
voltage can affect the lifespan of electrical equipment and result in high
monthly utility bills. By delivering the optimal voltage to the user, Legend
Power's Electrical Harmonizer-AVR helps companies reduce their electricity
bills, maintenance costs and greenhouse gas emissions while increasing the
life of electrical equipment. The technology also decreases capital and
operating costs for electrical utilities.
Forward Looking Information
This release and referenced materials contain forward looking statements,
within the meaning of the "safe-harbour" provisions of the Private Securities
Act of 1995, which are subject to a number of known and unknown risks,
uncertainties and other factors that may cause actual results to differ
materially from those anticipated in our forward looking statements. Factors
that could cause actual results to differ materially include: rapid
technological and/or market changes in the industry including actual
electrical billing rates; the adequate protection of the Company's proprietary
rights; and other factors described in the Company's regulatory filings.
Although we believe the expectations reflected in our forward looking
statements are reasonable, individual results may vary, and we cannot
guarantee future results, levels of activity, performance or achievements.
For further information:
For further information: Ginny Morgan, Corporate Development Manager,
Legend Power Systems Inc., (604) 420 1500; Media: Ross Sullivan/Stephanie
Thatcher, Peak Communicators, (604) 689 5559; Investor Relations: Martin
Livingston, Living Communications Inc., (604) 657 8234; LEGEND POWER SYSTEMS
INC., 8618 Commerce Court, Burnaby, BC, V5A 4N6, www.legendpower.com