2008 Loan Note Update

30 April 2010

Turbo Power Systems Inc. ("the Company")

2008 Loan Note Update

Turbo Power Systems announces that it has agreed with the 2008 Loan Note holders a further renegotiation of the terms of the 2008 Loan Note to allow more flexibility in working capital.

The 2008 Loan Note holders have agreed to remove the requirement to maintain cash above the Threshold Level for a further 2 months. This agreement expires on 1 July 2010.

This further extension of the waiver has been secured on the understanding that, in line with the statements in the 2009 Annual Report, the Board takes steps to strengthen the Company's balance sheet in order to ensure that the Company has the security to continue to develop its business.

For further information, please contact:

Turbo Power Systems Inc. Tel: +44 (0)20 8564 4460

Richard Bayliss

FinnCap Tel: +44 (0)20 7600 1658

Marc Young & Henrik Persson (Corporate Finance)

Stephen Norcross & Brian Patient (Corporate Broking)