Smartcool Systems Inc. - Stock options amended



    Trading Symbol: SSC.TSX.V

    VANCOUVER, Dec. 21 /CNW/ - SMARTCOOL SYSTEMS INC. (SSC:TSX-V) (the
"Corporation") is pleased to announce that an aggregate of 1,920,000 stock
options previously granted under the Corporation's Stock Option Plan to
directors, officers and employees have been amended to increase the exercise
price of the options, as detailed below:

    
    -------------------------------------------------------------------------
                         Number
                        of Stock    Original      New
    Date                 Options    Exercise   Exercise        Expiry Date
    of Grant             Granted      Price      Price         of Options
    -------------------------------------------------------------------------
    November 1, 2004     275,000      $0.21      $0.40      November 1, 2009
    -------------------------------------------------------------------------
    November 4, 2005     400,000      $0.27      $0.36      November 4, 2010
    -------------------------------------------------------------------------
    December 22, 2005    250,000      $0.23      $0.28     December 22, 2010
    -------------------------------------------------------------------------
    July 11, 2006        100,000      $0.30      $0.40         July 11, 2011
    -------------------------------------------------------------------------
    October 30, 2006     185,000      $0.40      $0.48      October 30, 2011
    -------------------------------------------------------------------------
    November 2, 2006     200,000      $0.48      $0.60      November 2, 2011
    -------------------------------------------------------------------------
    November 21, 2006    500,000      $0.72      $0.90     November 21, 2011
    -------------------------------------------------------------------------
    May 14, 2007          10,000      $0.88      $1.10          May 14, 2012
    -------------------------------------------------------------------------
      Total            1,920,000
    -------------------------------------------------------------------------
    

    All other terms and conditions remain constant.

    About Smartcool Systems Inc.:

    Smartcool Systems Inc. is an advanced energy savings solutions company
specializing in energy and cost reduction technologies for commercial and
retail businesses. The company's wholly owned subsidiary, SmartCool
International Inc., is the owner, developer, manufacturer and worldwide
distributor of the Energy Saving Module (ESM(TM)). This green technology
reduces the electricity consumption (kWh) and maximum demand (kW) of air
conditioning and refrigeration compressors. Rather than replacing existing
equipment, the ESM(TM) works in conjunction with existing controls in order to
ensure that compressors work at maximum efficiency, while maintaining preset
temperature levels and without causing over-cycling. Rising global energy
demand is resulting in significant increases in energy prices. Environmental
concerns are causing both government and industry to re-examine the way they
do business. SmartCool provides companies with solutions to address the
growing pressure to reduce energy costs, increase profits and reduce green
house gas emissions. For more information, please visit www.smartcool.net.

    ON BEHALF OF THE BOARD

    "Alan Thompson"
    Chief Financial Officer

    The TSX Venture Exchange has not reviewed nor does it accept
    responsibility for the adequacy or accuracy of this press release.




For further information:

For further information: Allan Thompson, Tel: (604) 669-1388, or
1-888-669-1388 or allant@smartcool.net

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Smartcool Systems Inc.

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