Herbert Abramson - Announcement - Acquisition of Common Shares of Schneider Power Inc.

    TORONTO, Sept. 3 /CNW/ - Herbert Abramson announces that on August 21,
2008 he acquired, directly or indirectly, pursuant to the terms of an
amalgamation of Water Capital Inc. ("Water") and Schneider Power Inc. (the
"Private Co."), 8,333,333 common shares of the amalgamated company, also
called "Schneider Power Inc." (hereinafter referred to as the "Resulting
Issuer"). As a result of this acquisition, Mr. Abramson now holds 8,333,333
common shares representing 12.8% of the issued and outstanding common shares
of the Resulting Issuer.
    Mr. Abramson has acquired the securities of the Resulting Issuer for
investment purposes. Mr. Abramson has no present intention to acquire further
securities of the Resulting Issuer.
    The transaction was completed by way of an exchange of common shares of
the Private Co. for common shares of the Resulting Issuer, pursuant to the
terms of the amalgamation of Water and the Private Co. Subsequent to the
transaction, the common shares of the Resulting Issuer were listed on the TSX
Venture Exchange.
    An Early Warning Report respecting this transaction has been filed on
SEDAR and can be viewed at www.sedar.com.

For further information:

For further information: Herbert Abramson, Tel: (416) 956-9334, Fax:
(416) 867-9771

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