MicroPlanet Reports Q2 Results for 2007



    Stock Symbol: MP
    Exchange: TSXV
    Outstanding Shares: 29.8 million
    Web Site: www.microplanet.com

    SEATTLE, Aug. 10 /CNW/ - MicroPlanet Technology Corp. (TSXV:MP)
("MicroPlanet" or the "Company"), a high technology, energy conservation
company reports second quarter consolidated financial results for the three
and six month periods ended June 30, 2007. All dollar figures are reported in
U.S. currency, unless otherwise stated.

    
    Q2 Highlights:

    -   The Company's pilot project with Ergon Energy, a utility in
        Australia, successfully concluded during the quarter and in August
        MicroPlanet announced that it has signed an agreement in principle
        with Ergon Energy to supply up to US $6 million of its products to
        Ergon Energy over 3 years.
    -   MicroPlanet installed products at 30 additional commercial and
        residential pilot sites in Hawaii under contracts with the US
        military, two major property management companies and a large resort
        developer.
    -   MicroPlanet installed two more pilot installations of its commercial
        three phase product. Initial results from both sites confirm energy
        savings consistent with expectations.
    -   The Company announced that it has been approved by ENERGY STAR as a
        Service and Product Provider Partner. Established in 1992, ENERGY
        STAR is a joint program of the U.S. Environmental Protection Agency
        and the U.S. Department of Energy to save money and protect the
        environment through energy efficient products and practices.
    

    "The Company is continuing to make progress installing its products with
customers at pilot locations in our three market segments: energy savings for
industrial and commercial clients, residential energy savings, and peak load
reduction and improved power quality for utilities," said Bruce Lisanti, CEO
of MicroPlanet.
    "The agreement with Ergon Energy is a landmark event for MicroPlanet. It
is further validation that our products are becoming an integral tool for
utilities today. We will help them deliver voltage at optimal levels, reduce
operating costs, and improve customer service, while saving energy and
reducing greenhouse emissions," added Mr. Lisanti.
    Lisanti continued, "During the second quarter of 2007, MicroPlanet
installed units in multiple pilots in the United States and internationally
with customers that have the potential to place significant commercial orders.
Our pilots continue to return positive results and we will install additional
pilots during the third quarter. Based on our current progress, we plan on
securing commercial orders during the third quarter and to start manufacturing
with Flextronics to deliver on those orders early in 2008."

    
    Q2 Financial Highlights:

    -------------------------------------------------------------------------
    Income Statement      3-months      3-months      6-months      6-months
    Unaudited               ending        ending        ending        ending
                           June 30,      June 30,      June 30,      June 30,
                              2007          2006          2007          2006
    -------------------------------------------------------------------------
    Revenue           $          -  $          -  $      2,000  $     18,190
    Gross margin      $          -  $          -  $        852  $      4,995
    Total expenses    $    867,850  $    780,846  $  1,546,651  $  1,484,915
    Net loss          $   (854,792) $   (752,199) $ (1,514,508) $ (1,437,527)
    Basic and diluted
     loss per share   $      (0.03) $      (0.03) $      (0.05) $      (0.06)
    Weighted average
     shares
     outstanding        29,403,963    26,518,076    29,317,968    24,552,601
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    Balance Sheet
    Unaudited                                   June 30, 2007  Dec. 31, 2006
    -------------------------------------------------------------------------
    Cash/Deposits                                $  1,077,531   $  2,110,200
    Current assets                               $  1,421,696   $  2,525,511
    Total assets                                 $  1,703,695   $  2,803,761
    Current liabilities                          $    196,072   $    231,955
    Shareholders' equity                         $  1,507,623   $  2,571,806
    -------------------------------------------------------------------------
    

    MicroPlanet's financial information for the three and six month periods
ending June 30, 2007 and 2006 along with the accompanying Management's
Discussion and Analysis for the same period are available on SEDAR
(www.sedar.com).

    Share grants in lieu of cash compensation

    On July 2, 2007 the Company issued 29,406 common shares to Bruce Lisanti,
the Company's CEO, for payment of US$12,500 in salary in lieu of cash. The
share issuance is pursuant to an agreement to pay a portion of Mr. Lisanti's
annual base salary in common shares of MicroPlanet in lieu of cash. The
remaining shares will be issued in equal installments on a quarterly basis.
The common shares issued will be subject to a 4-month hold period in
accordance with TSX Venture stock exchange requirements.

    About MicroPlanet Technology Corp.

    MicroPlanet's technology reduces the total amount of energy we need to
produce by significantly increasing the efficiency of the electric grid.
MicroPlanet's products dynamically manage the voltage delivered to a business
or home which saves energy, improves utility services and helps reduce
greenhouse emissions.
    MicroPlanet is a public company whose common shares are listed for
trading on TSX Venture Exchange under the symbol: "MP". The Company has
approximately 29.8 million common shares outstanding. Visit MicroPlanet at:
www.microplanet.com and www.investorfile.com.
    MicroPlanet is a trademark of MicroPlanet. All other trademarks and
registered trademarks are those of their respective companies.

    THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL FUTURE
RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED. THE RISKS,
UNCERTAINTIES AND OTHER FACTORS, BOTH KNOWN AND UNKNOWN, THAT COULD INFLUENCE
ACTUAL RESULTS MAY BE SUBSTANTIAL AND INCLUDE THOSE DESCRIBED IN DOCUMENTS
FILED WITH REGULATORY AUTHORITIES, SUCH AS THE COMPANY'S MOST RECENTLY FILED
ANNUAL AND QUARTERLY FINANCIAL REPORTS AND ANNUAL INFORMATION FORM.
ACCORDINGLY, NO ASSURANCES CAN BE GIVEN THAT ANY OF THE EVENTS ANTICIPATED BY
THE FORWARD-LOOKING INFORMATION WILL TRANSPIRE OR OCCUR, OR IF ANY OF THEM DO
SO, WHAT BENEFITS THE COMPANY WILL DERIVE THEREFROM.

    THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE
    INFORMATION CONTAINED HEREIN.

    %SEDAR: 00020555E




For further information:

For further information: MicroPlanet Company Contacts: Bruce Lisanti,
President & Chief Executive Officer, Tel: (206) 625-0851,
blisanti@microplanet.com; Andy Larson, Chief Financial Officer, Tel: (206)
625-0851, alarson@microplanet.com; MicroPlanet Investor Relations: Gerry
Wimmer, INVESTORFILE.com, Tel: (416) 360-8895, Toll Free: 1-888-894-8222,
gwimmer@investorfile.com

Organization Profile

MicroPlanet Technology Corp.

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