CALGARY, Jan. 27 /CNW/ - Alternative Fuel Systems (2004) Inc. ("AFS" or the "Company") (TSX Venture: AFX) announced today that it has engaged SectorSpeak Inc. (, a Canadian corporation that provides investor relations services to public companies, primarily those listed on the TSX-V exchange. Mr. Hogan Mullally, President of SectorSpeak, will be introducing AFS to brokers and other prospective investors that might have an interest in the Company's activities and potential.

In conjunction with this engagement, AFS has granted an option to SectorSpeak to purchase 150,000 common shares of AFS stock (the "Option"). The Option, effective January 27, 2011 is at a price of $0.32 per share, the closing price of the Company's common stock yesterday on the Toronto Venture Exchange. The Option vests one year from its date of grant, and expires three months thereafter. In addition, AFS may pay SectorSpeak up to $4,000 per month on a fee-for-service basis, depending on activities undertaken. The arrangement with SectorSpeak can be terminated by AFS with thirty days' notice, with the Option remaining in force until its expiry.

Mr. Mullally is at arms length to AFS and day-to-day shareholder communications will continue to be provided by Mr. Jim Perry, President and CEO of AFS. Mr. Mullally holds 30,000 shares of AFS and SectorSpeak does not own any shares of AFS. This agreement is subject to exchange approval.

AFS, based in Calgary, Canada, is a leading developer and manufacturer of natural gas vehicle engine controllers and associated components

Forward-looking statements

Certain statements in this News Release including but not limited to (i) statements that may contain words such as "trend", "anticipate", "could", "expect", "seek", "may", "might", "intend", "will", "believe", "should", "project", "forecast", "plan" and similar expressions, including the negatives thereof, (ii) statements that are based on current expectations and estimates about the markets in which the Company operates including India and (iii) statements of belief, intentions and expectations about developments, results and events that will or may occur in the future with respect to engine controllers or otherwise, constitute "forward-looking statements" and are based on certain assumptions and analysis made by the Company. Forward-looking statements in this News Release specifically include, but are not limited to, statements with respect to future business opportunities, nature and timing thereof; business strategy; expansion and growth of the Company's business and operations and other such matters as the case may be. Such forward-looking statements are subject to important risks, uncertainties and assumptions which are difficult to predict and that may affect the Company's operations, including, but not limited to: the impact of general economic conditions; industry conditions; customer base changes; financial market conditions; government and regulatory developments; demand for natural gas engine controller technology; oil and natural gas supply, demand and pricing; foreign exchange rates; competition; market conditions in the countries where the Company operates; and the Company's ability to attract and retain qualified personnel. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do transpire or occur, what benefits or disadvantage the Company may derive there from. Except as required by applicable securities laws, the Company undertakes no intention or obligation to update or revise any forward-looking statements.

All forward-looking statements contained in this document are expressly qualified by this cautionary statement. Further information about the factors affecting forward-looking statements is available in the Company's current financial statements and other documents that the Company files from time to time with securities regulatory authorities. Copies of these documents are available without charge from the Company or electronically on the Internet on the Company's SEDAR profile at

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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

SOURCE Alternative Fuel Systems (2004) Inc.

For further information:

Jim Perry, President and CEO Phone: (403) 516-6632

Profil de l'entreprise

Alternative Fuel Systems (2004) Inc.

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