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Last updated on February 14, 2012 at 1:08 EST

Power Air Corp to Present at the London Stock Exchange’s ‘New Energy Capital Markets Day’

October 12, 2006

NEW YORK, Oct. 12 /PRNewswire-FirstCall/ — Power Air Corporation (BULLETIN BOARD: PWAC) will present on October 20th at the New Energy Capital Markets Day hosted by the London Stock Exchange. Remy Kozak, Power Air’s CEO, will be accompanied by Don Prest, CFO, and Paul Brock, a Power Air Director. The trio will present Power Air to the institutional community in London, alongside eight other AIM listed or pre-IPO companies that have been selected by the LSE.

“We are pleased to have been invited to the LSE event and look forward to a productive session,” states Remy Kozak, CEO of Power Air Corp. “The European market appears to be focusing on environmental and alternative energy products and investments.”

In late September, Sir Richard Branson, Virgin Group CEO, pledged $3 billion to be used towards developing alternative energy sources to curtail climate change. Power Air’s patented Zinc Air Fuel Cell (ZAFC) technology — developed at Lawrence Livermore National Laboratories — allows for power generation with zero-emissions. The system by-products are totally recyclable.

Power Air has previously announced that the initial application of its ZAFC will be in emergency backup power generators that can be used indoors.

About Power Air Corporation

Power Air Corporation, with head office in Livermore, California, is engaged in the business of developing, manufacturing and marketing fuel cell based commercial products. Power Air has the exclusive worldwide license to Zinc-Air Fuel Cell technology that has been developed at the Department of Energy’s Lawrence Livermore National Laboratory, in Livermore, California, for all fields of use (portable, stationary, light mobility and transportation applications) and commercialization.

For further information please call 925-960-8779 or visit http://www.poweraircorp.com/ .

Investor Relations call 866-734-7026 or e-mail to investors@poweraircorp.com

THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NO EXCHANGE, OVER-THE-COUNTER MARKET OR DERAL OR STATE SECURITIES ADMINISTRATOR HAS IN ANY WAY EITHER REVIEWED, APPROVED OR DISAPPROVED OF THE CONTENTS OF THIS NEWS RELEASE.

THIS NEWS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE. SUCH FORWARD-LOOKING STATEMENTS INCLUDE, AMONG OTHER THINGS, THE TIMELY COMPLETION OF ALL MATERIAL AND NON-MATERIAL MATTERS COMPRISING THE SHARE EXCHANGE AGREEMENT AND ITS RELATED TRANSACTIONS, THE BELIEF THAT THE COMPANY WILL RAISE SUFFICIENT FUNDING FOR THE COMPANY’S PROJECTED BUSINESS PURPOSES AND THE EXPECTATION THAT THE COMPANY MAY BE ABLE TO SECURE JOINT VENTURE PARTNERS IN THE DEVELOPMENT OF ITS TECHNOLOGY. THESE STATEMENTS INVOLVE RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN. SUCH RISKS AND UNCERTAINTIES MAY INCLUDE, BUT ARE NOT LIMITED TO, FACTORS OUTSIDE THE CONTROL OF THE COMPANY. THESE FORWARD- LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE SK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION.

THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.

Power Air Corporation

CONTACT: Investor Relations: +1-866-734-7026,investors@poweraircorp.com

Web site: http://www.poweraircorp.com/