Zongshen PEM Power Systems Inc. Announces Results of Special General Meeting and Grant of Stock Options

    RICHMOND, BC, Aug. 28 /CNW/ - Zongshen PEM Power Systems Inc. (TSXV: ZPP;
the "Company") held its Special General Meeting on August 28, 2007 (the
"Meeting") and is pleased to announce that all resolutions brought before the
Meeting were passed by the Company's Shareholders. As a result, the Company's
stock option plan has been changed from a "fixed" plan to a "rolling" plan,
reserving 10% of the number of issued and outstanding common shares at any
given time. Furthermore, the shareholders ratified the management's decision
not to proceed with a consolidation of the Company's issued and outstanding
shares capital on a two (2) for one (1) basis.
    The Company also announces that it has granted incentive stock options to
directors, officers and employees for the purchase of a total of 345,000
common shares of the Company at a price of $1.50 each until August 27, 2012.
The options are being granted pursuant to the terms of the Company's stock
option plan.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of the content of this news

For further information:

For further information: Zongshen PEM Power Systems Inc., Mary Ma,
Controller, (604) 233-1115, info@zongshenpem.com

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