AAER Signs a Licensing Contract with EUROS to Manufacture Blades at its Bromont Facility

    MONTREAL, Oct. 23 /CNW/ - AAER Inc. (TSX-V: AAE), Canada's only wind
turbine manufacturer, announced today that it has reached a licensing
agreement with EUROS Entwicklungsgesellschaft fur Windkraftanlagen mbH
("EUROS") allowing it to manufacture blades using EUROS' technical
specifications. AAER will use the blades in the assembly of its wind turbines.
    "This agreement completes our technology portfolio and will allow us to
start production and assemble our first wind turbine in 2008 as planned," said
Dave Gagnon, President and CEO of AAER. "Like our previous agreements, the
transfer of proven technology by an established player, will allow AAER to
provide highly reliable turbines to its North American clients. The agreement
with EUROS also gives us greater control over our supply chain, which is
increasingly becoming a challenge in our industry."
    Under the open-ended contract, Euros engineers will provide staff
training, initial production supervision and quality control. This technical
support will make it possible to start production on the blades under optimal
quality assurance conditions.

    About AAER Inc., (TSX-V: AAE)

    AAER is a wind turbine manufacturer located in Bromont, Quebec that
manufactures and maintains high capacity 1 Megawatt or more wind turbines
principally for the North American market. Its strategy is to progressively
build its product's components to provide a high level of reliability and a
competitive pricing to its customers. AAER uses proven European technologies
to ensure the performance of its turbines in various weather conditions. Its
stock is listed on the TSX Venture Exchange (AAE). Additional information is
available on the Company's Website at www.aaer.ca.

    About EUROS

    Founded in Berlin in 1996, EUROS GmbH designs and produces rotor blades
for the wind turbine industry using state-of-the art technology. The company's
blades have received Germanischer Lloyd certification and are produced for
worldwide export following strict internal quality controls. For more
information, visit the company's Web site at www.euros.de.

    Forward-Looking Statements
    This news release contains certain forward-looking statements. These
statements relate to future events or AAER's future economic performance and
reflect the current assumptions and expectations of management. Certain
unknown factors may affect the events, economic performance and results of
operations described herein. AAER undertakes no obligation, and does not
intend to, update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as may be
required under applicable law.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    %SEDAR: 00019641EF

For further information:

For further information: AAER Inc., Dave Gagnon, President, Telephone:
(450) 534-5155, www.aaer.ca; The Equicom Group Inc., Eric Bouchard, Telephone:
(514) 844-7997, ebouchard@equicomgroup.com

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