NEWSCENTER

PRESS RELEASE:

POWER TECH CORPORATION INC.

POWER TECH ANNOUNCES A PRIVATE PLACEMENT

Terrebonne (Quebec), February 28, 2007 – Carol Murray, President and Chief Executive Officer of Power Tech Corporation Inc. (“PowerTech”) (TSX-V: PWB) announces today that Northern Securities Inc. has agreed to act as Lead Agent for a brokered private placement financing, on a best efforts basis, for a maximum amount of $4,000,000 (the “Placement”). The Placement is priced at $0.55 per unit. Each unit is comprised of one common share and one half-warrant. Each full warrant can be exercised at a price of $0.70 per warrant for a period of 24 months after the closing date. The agent has a broker’s option to purchase up to 50% of the number of Units issued at the closing.

“This new financing will enable PowerTech to aggressively pursue its business strategy, at both the commercial and technological levels. We can accelerate the implementation of our business plan, which focuses on the formation of partnership alliances with world-class players, such as the recently announced agreement with NPK Construction Equipment. In addition, via our technological program, we can complete the development of new versions of our PicBucket, allowing us to break into new high-potential market segments. Thanks to this new financing and the agreement with NPK Construction Equipment, PowerTech now has the momentum and resources required to successfully continue its development and growth,” said Mr. Carol Murray, President and Chief Executive Officer of the Company.

About PowerTech (www.powertechci.com)

PowerTech is the only company in the world that manufactures and commercializes a percussion technology with interchangeable tools and accessories for the construction, demolition, aluminum, mining, tunnelling, forestry and military industries. PowerTech's percussion technology, marketed under the PicBucket and PicHammer names, is a technological breakthrough that combines the power of a hydraulic hammer with the stripping force and manoeuvrability of a conventional bucket.

PowerTech is positioning itself as a leader in the development, integration and commercialization of leading edge technologies that allow for substantial improvements in equipment performance, productivity and functionality.

* The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

 

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Source:

Power Tech Corporation Inc.
www.powertechci.com

For further information:

Carol Murray
President and Chief Executive Officer
Corporation Power Tech Inc.
Tel.: (450) 963-6400
Fax: (450) 963-4411
E-mail: carol.murray@powertechci.com

Frédéric Tremblay
HKDP
Tel.: (514) 395-0375, ext. 234
E-mail: ftremblay@hkdp.qc.com

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