Legend Power provides update on incentive share option plan and grants



    
    /NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
    UNITED STATES/
    

    BURNABY, BC, Aug. 14 /CNW/ - Legend Power Systems Inc. (TSX.V: LPS)
("Legend Power") announces that the granting of 235,650 incentive share
options previously announced on June 9, 2009 is not proceeding. Legend Power
instead announces that it has granted incentive share options to certain
directors, officers and employees of the Company to purchase up to 235,650
common shares in the capital of Legend Power pursuant to a new fixed share
option plan (the "Plan"). The options are exercisable on or before June 8,
2012 at an exercise price of $0.48 per share.
    The Plan, which replaces the Company's previous 10% rolling share option
plan, was approved by the Company's board of directors on July 15, 2009 and
accepted for filing by the TSX Venture Exchange on August 4, 2009. Pursuant to
the Plan, 2,720,943 common shares, being approximately, but not greater than,
10% of the issued and outstanding common shares of the Company, have been
reserved for issuance.

    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-AVR eliminates
inefficiencies by delivering the optimal level of voltage a user needs. Many
customers receive higher voltage levels than required at certain points of the
grid from electrical utilities delivering higher levels to compensate for line
loss across the feeder length. 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.

    
    Neither TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release.
    





For further information:

For further information: Gerry Gill, Chairman & CEO, Legend Power
Systems Inc., (604) 420-1500, ggill@legendpower.com; LEGEND POWER SYSTEMS
INC., 8618 Commerce Court, Burnaby, BC, V5A 4N6, (604) 420-1500,
www.legendpower.com

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Legend Power Systems Inc.

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