CELEBRATION, Fla., Aug 23, 2006 -- BUSINESS WIRE

 

International Power Group Ltd., (Pink Sheets: IPWG) has received authorization from the Kingdom of Saudi Arabia's Presidency of Metrology and Environment (PME) office to begin its due diligence in the city of Jizan, to determine the viability of establishing the Company's first waste-to-energy plant in Saudi Arabia. Jizan is located in the southwest of the Kingdom, near the border of Yemen. A team of consulting engineers and scientists working with IPWG will be conducting the research in Jizan.

Peter Toscano, CEO of IPWG, said: "We are pleased with the rapid progress being made towards establishing our first waste-to-energy facilities in Saudi Arabia. The Kingdom of Saudi Arabia's economy is one of the world's fastest-growing. This fast growth has strained the Kingdom's limited drinking water supply and its electricity resources. IPWG's waste-to-energy technology, with its purified drinking water by-product, is, we believe, the perfect solution to the Kingdom's waste disposal, drinking water and electricity needs."

Once this location is determined as viable, a timetable will be developed for construction of the waste-to-energy facility. The Company expects that plant construction would begin in late 2006.

About International Power Group, Ltd.

International Power Group, Ltd. is a multifaceted alternative energy solutions company dedicated to providing energy solutions in a sustainable, environmentally-friendly manner. Through its subsidiaries, strategically placed around the world, and its strategic partnerships, IPWG intends to provide turnkey waste disposal, electricity and potable water production plants and systems. The Company intends to establish waste-to-energy facilities to convert commercial, hazardous, organic and toxic wastes into saleable electricity and potable water. IPWG believes it is uniquely positioned to produce revenue from in-processing waste and out-processing electricity and drinking water, addressing the growing need globally for renewable "green" sources of energy.

FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. For a discussion of such risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-KSB, as amended, for the most recently ended fiscal year. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward- looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company's actual results, performance, and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements.

SOURCE: International Power Group Ltd.

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