MicroPlanet Reports Q3 Results for 2007



    Symbol: MP:TSXV
    Symbol: MCTYF:OTC
    Outstanding Shares: 29.8 million
    Web Site: www.microplanet.com

    SEATTLE, WA, Nov. 8 /CNW/ - MicroPlanet Technology Corp. (TSXV:MP)
(OTC:MCTYF) ("MicroPlanet" or the "Company"), a high technology, energy
conservation company reports third quarter consolidated financial results for
the three and nine month periods ended September 30, 2007. All dollar figures
are reported in U.S. currency, unless otherwise stated.

    
    Q3 Highlights:

    -  The Company finalized a contract to supply $6 million of its energy
       management products to Ergon Energy. The purchase by Ergon Energy is
       an integral part of a broad effort in Australia to improve the quality
       of the utilities distribution network. The Hon. Geoff Wilson, Minister
       for Mines and Energy for the State Government of Queensland, Australia
       made specific note of MicroPlanet's products in an address to the
       Parliament.

    -  MicroPlanet announced that its pilot installation at the Kapalua
       Resort in Hawaii had returned energy savings greater than 12% and that
       Maui Land & Pineapple, the property manager of the resort, anticipates
       installing MicroPlanet's products at its company-owned facilities on
       the resort.

    -  Subsequent to the end of the quarter, the Company announced that it
       has entered into an agreement with a syndicate of lenders to provide
       up to a C$1.25 million standby line of credit.
    

    "The pilot programs and other field trials that MicroPlanet has been
conducting over the course of 2007 are starting to generate real traction for
sales orders, as we have seen with the announcements out of Australia and
Hawaii. The Ergon purchase in particular is a significant milestone for the
Company as it is our first large order which enables us to ramp up our
production capabilities and start realizing some economies of scale," said
Bruce Lisanti, CEO of MicroPlanet.
    Lisanti continued, "Revenues to date in 2007 have been limited to pilot
installations, and our expectation is that the Company will see revenues from
our commercial order backlog starting in 2008. The Company has numerous other
pilot installations still underway in locations across the United States
including Hawaii, California, Colorado and New England in addition to
locations outside the US. Those pilots are generating excellent results and it
is our expectation that we should see some follow-on orders coming out of
those installations during the upcoming quarters."

    
    -------------------------------------------------------------------------
    Income Statement         3-months     3-months     9-months     9-months
    Unaudited                  ending       ending       ending       ending
                             Sept. 30,    Sept. 30,    Sept. 30,    Sept. 30,
                                 2007         2006         2007         2006
    -------------------------------------------------------------------------
    Revenue               $    11,125  $   295,522  $    13,125  $   313,712
    Gross margin          $     5,140  $    20,991  $     5,992  $    25,986
    Total expenses        $   647,643  $   937,790  $ 2,194,294  $ 2,422,705
    Net loss              $  (636,477) $  (892,961) $(2,150,985) $(2,330,488)
    Basic and diluted
     loss per share       $     (0.02) $     (0.03) $     (0.07) $     (0.09)
    Weighted average
     shares outstanding    29,403,963   27,474,636   29,317,968   25,537,316
    -------------------------------------------------------------------------

    -----------------------------------------------
    Balance Sheet            Sept. 30,     Dec. 31,
    Unaudited                    2007         2006
    -----------------------------------------------
    Cash/Deposits         $   532,483  $ 2,110,200
    Current assets        $   867,565  $ 2,525,511
    Total assets          $ 1,170,540  $ 2,803,761
    Current liabilities   $   281,271  $   231,955
    Shareholders' equity  $   889,269  $ 2,571,806
    -----------------------------------------------
    

    MicroPlanet's financial information for the three and nine month periods
ending September 30, 2007 and 2006 along with the accompanying Management's
Discussion and Analysis for the same period are available on SEDAR
(www.sedar.com).

    Share grants in lieu of cash compensation

    On October 1, 2007 the Company issued 23,139 common shares to 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. 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 TSX
Venture 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. Website: www.microplanet.com.

    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 FINANCIAL REPORTS AND ANNUAL INFORMATION FORM.
ACCORDINGLY, NO ASSURANCES CAN BE GIVEN THAT ANY OF THE EVENTS ANTICIPATED BY
THE FORWARD-LOOKING INFORMATION 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

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MicroPlanet Technology Corp.

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