AFS announces second quarter 2009 profit

    CALGARY, Aug. 19 /CNW/ - Alternative Fuel Systems (2004) Inc. ("AFS" or
the "Company") (TSX Venture: AFX) announced today its operating results for
the three month period ending June 30, 2009. Total revenue from product sales,
engineering and interest was $658,546 compared to $827,685 in the second
quarter of 2008. Income for the period was $149,283 compared to income of
$36,662 reported in Q2 of 2008.
    AFS President and CEO Jim Perry stated "We are very pleased to have made
a profit in the second quarter of 2009. Engineering services revenue and sales
of engine management systems have increased significantly compared to last
year. This increase in higher margin business has offset the decrease we have
seen in pressure regulator sales."
    Mr. Perry added, "Year-to-date, we are now profitable, due to the strong
results in the second quarter. Our business in India continues to grow as
their economy recovers, and we have a number of new initiatives underway that
may provide additional revenue streams from that market. With cash and short
term investments of more than $1.5 million at the end of the second quarter of
2009, we are in a good position going forward".

    Forward-looking statements

    Certain statements in this News Release including but not limited to (i)
statements that may contain words such as "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 and (iii) statements of belief,
intentions and expectations about developments, results and events that will
or may occur in the future, 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; oil and natural gas product 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

For further information:

For further information: Jim Perry, President and CEO, Phone: (403)
516-6632, E-mail; Visit our website at:

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