Canadian Stocks

[generalelectrik]

Railpower announces Green Goat(R) fleet recall and safety upgrade
13:50 EDT Friday, June 01, 2007



COMPANY TO HOLD A CONFERENCE CALL AT 4:30 P.M. EASTERN TIME, JUNE 1, 2007


TSX SYMBOL: P


MONTREAL, June 1 /CNW Telbec/ - Railpower Technologies Corp. (TSX: P), a leader in specialized energy technology systems for the transportation industry, is asking its clients to temporarily cease operating its GG-series (Green Goat) yard switcher locomotives. As a precaution, the Company is recalling 59 units from the GG-series (Green Kids, Generation I, II and III models). All affected customers are being notified of the recall immediately. This is Railpower's initial product line. The Company's new product, the Road Switcher fleet of over 100 vehicles, in operation or on order, is unaffected by this recall. The Company's recall follows a fire in a Generation I Green Goat locomotive on the evening of Wednesday, May 30, 2007.

Railpower is undertaking an in-depth analysis of the cause of the fire in Generation I and II GG-series locomotives in order to determine temporary and permanent solutions.

For Generation III Green Goat locomotives, the Company has just completed an in-depth study of any potential difficulties that could affect this fleet and believes these can be remedied within a matter of weeks. It will install a new version of software for battery pack monitoring and implement some mechanical improvements for additional protection.

"Our goal is to ensure the safety of our customers and their ability to return to normal operations as rapidly as possible," explained Railpower President and CEO José Mathieu. "We will devote the resources necessary to demonstrate our commitment to support our products and to satisfy our customers' needs."

Railpower's fleet of its new product, Road Switcher locomotives, introduced in 2006, consists of 54 units in successful operation and another 50 units under order. Market potential for this Road Switcher locomotive is estimated at 6,000 units for North America alone.


Conference Call


Railpower will host a conference call Friday, June 1, 2007, at 4:30 P.M. Eastern Time. The telephone numbers to access the conference call are 514-807-8791 or 800-733-7560. A replay of the call will be available until June 8, 2007. The telephone numbers to access the replay of the call are 416-640-1917 or 877-289-8525, for which the passcode is 21235166#.


About Railpower


Railpower (TSX: P), (www.railpower.com) is engaged in the development, construction, marketing and sales of specialized, patented, environmentally friendly technology systems for the transportation and related industries. Railpower's technologies significantly reduce fuel usage, operating and maintenance costs, and emissions. While Railpower's origins are in the transportation industry, its technologies have broad potential and applications in other markets and industries. Railpower is headquartered in Montreal, Quebec. Its U.S. office is located in Erie, Pennsylvania.


Caution regarding forward-looking statements


Certain statements contained in this release contain forward-looking statements. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions may be used to identify forward-looking statements. Those statements reflect our current views with respect to future events or conditions, including prospective results of operations, financial position, predictions of future actions, plans or strategies. Certain material factors and assumptions were applied in drawing our conclusions and making those forward looking statements. By their nature, those statements reflect management's current views, beliefs and assumptions and are subject to certain risks and uncertainties, known and unknown, including, without limitation, product development or manufacturing delays, changing environmental regulations, the ability to attract and retain business partners, the acceptance of our existing and new products, future levels of government funding, the need to obtain and maintain proprietary rights over our technology, competition from other technologies, the ability to access the capital required for research, product development, operations and marketing, the need to generate positive cash flow in the foreseeable future, changes in energy prices and currency levels. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward-looking statements. Should one or more of these risks or uncertainties materialize, or should the assumptions underlying our projections or forward-looking statements prove incorrect, our actual results may vary materially from those described in this report as intended, planned, anticipated, believed, estimated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements whether as a result of new information, plans, events or otherwise.

For further information: José Mathieu, President & CEO, Railpower Technologies Corp., [phone] ext. 501, Toll Free: 866-678-5277, [e-mail]; Roch Landriault, NATIONAL Public Relations, [phone], [e-mail]