MicroPlanet Reports Annual Results for 2006



    Company: MicroPlanet Technology Corp.
    Stock Symbol: MP
    Exchange: TSXV
    Outstanding Shares: 29.2 million
    Web Site: www.microplanet.com

    SEATTLE, March 2 /CNW/ - MicroPlanet Technology Corp. (TSXV:MP)
("MicroPlanet" or the "Company"), a high technology, energy conservation
company reports annual financial results for the year ended December 31, 2006.
All dollar figures are reported in U.S. currency, unless otherwise stated.

    2006 Business Highlights:

    
    -  MicroPlanet completed the design of its product for the European
       utility system and shipped 100 proto-type LVRs(TM) to customers in the
       United Kingdom and Australia to evaluate as a cost-effective solution
       to improve service quality on their electric grids.
    -  The Company reduced the number of members on its board of directors
       from eight to five. In addition, Dave Andrews and Tom Van Horn joined
       the board as new directors.
    -  The Company appointed Bruce Lisanti as President and CEO.
    -  The Company commenced several new pilot installations and continued to
       gather data that clearly demonstrates the ability of its products to
       save electricity and improve service quality.
    -  The Company completed an equity financing for an aggregate of
       C$3,712,750.
    

    "In 2006, MicroPlanet continued to make progress transitioning from
research and development of its products into early commercialization," said
Bruce Lisanti, CEO of MicroPlanet.
    Lisanti continues, "During the year, MicroPlanet established new customer
relationships and gathered additional data demonstrating the potential of our
products to substantially reduce energy consumption. We feel the Company is
well positioned to start converting pilot installations into orders in 2007.
MicroPlanet is now focused on obtaining significant orders from key customers
in the market segments we are pursuing: energy savings for commercial,
industrial and residential customers, in addition to providing cost-effective
products that improve the efficiency of the electrical grid and distribution
systems."
    Lisanti added, "The Hawaiian Electric Company (HECO) announced that it
will offer rebates to businesses installing MicroPlanet's products. This
endorsement from a major utility should be instrumental in accelerating the
adoption of MicroPlanet's technology in Hawaii and to setting a precedent for
other utilities."
    Revenues for the year ended December 31, 2006 (the "Year") were $332,462
compared to $863,719 during the same period in 2005 (the "Prior Year").
Revenues in 2006 resulted primarily from the shipment of 100 proto-type low
voltage regulation systems to utilities. Since the Company is in the early
stages of commercialization of its products, revenues have been and will
continue to be relatively inconsistent as the Company converts pilot programs
into sales with new and existing customers.
    Expenses for the Year increased by 15% to $3,010,354 compared to
$2,611,799 during the Prior Year. The Company continued to devote resources to
research and development and sales activities during the Year. The increase in
expenses is related to several factors, including an increase non-cash, stock
based compensation.
    Net loss for the Year was $3,010,909 or $0.11 loss per share (basic and
diluted) compared to a net loss of $2,667,303 or $0.16 loss per share (basic
and diluted) during the Prior Year.
    MicroPlanet's financial information for the years ending December 31,
2006 and 2005 along with the accompanying Management's Discussion and Analysis
for the same period are available on SEDAR (www.sedar.com).

    2006 Financial Highlights:

    
    Audited-

    -------------------------------------------------------------------------
    Statement of Operations $US                        2006           2005
    -------------------------------------------------------------------------
    Revenue                                      $    332,462   $    863,719
    Gross margin                                 $    (90,025)  $    (98,941)
    Total expenses                               $  3,010,354   $  2,611,799
    Net loss                                     $ (3,010,909)  $ (2,667,303)
    Basic and diluted loss per share             $      (0.11)  $      (0.16)
    Weighted average shares outstanding            26,327,247     16,685,508
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Balance Sheet $US                                  2006           2005
    -------------------------------------------------------------------------
    Cash/Deposits                                $  2,110,200   $  1,790,202
    Current assets                               $  2,525,511   $  2,098,567
    Total assets                                 $  2,803,761   $  2,226,021
    Current liabilities                          $    231,955   $    592,876
    Shareholders' equity                         $  2,571,806   $  1,618,902
    -------------------------------------------------------------------------
    

    Share grant in lieu of cash compensation

    The Company issued 67,380 common shares to the Bruce Lisanti, the
Company's CEO, for payment of US$12,500 in salary in lieu of cash. The share
issuance is pursuant to an agreement to pay a portion of Mr. Lisanti's annual
base salary in common shares of MicroPlanet in lieu of cash. The remaining
shares will be issued in equal installments on a quarterly basis.
    The common shares issued will be subject to a 4-month hold period in
accordance with stock exchange requirements.

    About MicroPlanet Technology Corp.

    MicroPlanet's technology reduces the total amount of energy we need to
produce by significantly increasing the efficiency of the electric grid.
MicroPlanet's products dynamically manage the voltage delivered to a business
or home which saves energy, improves utility services and helps reduce
greenhouse emissions.
    MicroPlanet is a public company whose common shares are listed for
trading on TSX Venture Exchange under the symbol: "MP". The Company has
approximately 29.2 million common shares outstanding. Visit MicroPlanet at:
www.microplanet.com and www.investorfile.com.
    MicroPlanet is a trademark of MicroPlanet. All other trademarks and
registered trademarks are those of their respective companies.

    THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL FUTURE
RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED. THE RISKS,
UNCERTAINTIES AND OTHER FACTORS, BOTH KNOWN AND UNKNOWN, THAT COULD INFLUENCE
ACTUAL RESULTS MAY BE SUBSTANTIAL AND INCLUDE THOSE DESCRIBED IN DOCUMENTS
FILED WITH REGULATORY AUTHORITIES, SUCH AS THE COMPANY'S MOST RECENTLY FILED
ANNUAL AND QUARTERLY REPORTS AND ANNUAL INFORMATION FORM. ACCORDINGLY, NO
ASSURANCES CAN BE GIVEN THAT ANY OF THE EVENTS ANTICIPATED BY THE
FORWARD-LOOKING STATEMENTS WILL TRANSPIRE OR OCCUR, OR IF ANY OF THEM DO SO,
WHAT BENEFITS THE COMPANY WILL DERIVE THEREFROM.

    THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE
    INFORMATION CONTAINED HEREIN.
    %SEDAR: 00020555E




For further information:

For further information: MicroPlanet Company Contacts: Bruce Lisanti,
President & Chief Executive Officer, Tel: (206) 625-0851,
blisanti@microplanet.com; Andy Larson, Chief Financial Officer, Tel: (206)
625-0851, alarson@microplanet.com; MicroPlanet Investor Relations: Gerry
Wimmer, INVESTORFILE.com, Tel: (416) 360-8895, Toll Free: 1-888-894-8222,
gwimmer@investorfile.com

Organization Profile

MicroPlanet Technology Corp.

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