Zongshen PEM Power Systems Inc. enters into investor relations agreement with Genoa Management Limited

    TORONTO, Aug. 31 /CNW/ - Zongshen PEM Power Systems Inc. (the "Company")
(TSXV:ZPP) is pleased to announce that it has appointed Genoa Management
Limited ("Genoa") of Toronto as its investor relations advisor and independent
capital markets counsel. Genoa's mandate will be to focus on developing and
expanding the network of investors, analysts, and financial intermediaries who
are interested in following the Zongshen investment story.
    The agreement provides that for a twelve-month period commencing
September 1, 2007, the effective date of the agreement, Genoa will provide the
Company a full range of investor relations services. The Company will pay
Genoa a monthly fee plus approved expenses and has granted Genoa a 36-month
option (the "Option") to purchase a total of up to 200,000 common shares of
the Company. The options shall have an exercise price of $1.54 per share
vesting over a 36-month period from the effective date of the agreement.
    "We are delighted to have been selected by Zongshen as the investor
relations and capital markets advisors and look forward to a long and
successful relationship," noted Ali Mahdavi, Partner at Genoa Management
    "We are convinced that Genoa can deliver on the appropriate balance of
analyst and broad reach among both institutional and retail investors. Genoa's
professionalism and market reach will complement our Company's fast growth and
aggressive approach to the market," noted Yao Li, CEO & President of Zongshen
PEM Power Systems Inc.

    About Genoa Management Limited

    Established in 1999, Genoa Management Limited provides Canadian listed
companies with independent capital markets counsel as well as financial
communications management and targeted investor outreach support.

    About Zongshen PEM Power Systems Inc.

    Zongshen PEM Power Systems is a leading developer and manufacturer of
alternative energy power systems and applications. The Company has a
manufacturing plant in Wuxi, China producing electric bicycles for the China
and international market. In addition the Company is conducting research and
development on hydrogen fuel cell technology. Zongshen PEM Power Systems is an
affiliate of the Zongshen Industrial Group, one of China's largest
manufacturers of engines and motorcycles including Chongqing Zongshen Power
Machinery Co., Ltd. listed on the Shanghai Stock Exchange.

For further information:

For further information: Ali Mahdavi, Genoa Management Limited, Tel:
(416) 962-3300, amahdavi@genoa.ca

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