NEWSCENTER

PRESS RELEASE:

POWER TECH CORPORATION INC.

POWER TECH ANNOUNCES A PRIVATE PLACEMENT

The Company increases its backlog and significantly reduces operating losses

Terrebonne (Quebec), June 30, 2008 – PCarol Murray, President and Chief Executive Officer of Power Tech Corporation Inc. (“PowerTech”) (TSX-V: PWB) announces its intent to complete a non-brokered private placement financing, for a maximum amount of 5,000,000 units for a total amount of $2,000,000 (the “Placement”). Each unit is comprised of one common share at a price of $0.40 and one warrant. Each warrant can be exercised at a price of $0.50 for a period of 24 months after the closing date. The closing of this private placement is subject to the approval of the regulatory authorities.

“This new financing will enable PowerTech to pursue the implementation of its business plan, specifically the roll-out of its private label OEM agreements with world-class manufacturers and the potential signing of other similar deals. This financing will also allow for the launch of our new series 5000 PicBucket®, which will cater to the needs of one of the largest identified end-markets”, stated 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 percussion technology with interchangeable tools and accessories for the construction, demolition and military industries.

PowerTech's percussion technology is a technological breakthrough that combines the power of a hydraulic hammer with the stripping force and manoeuvrability of a conventional bucket. Powertech’s products are marketed under the PicBucket® and PicHammer® names as well as under world renowned private label brands thru OEM agreements with large manufacturers.

The trademarks PicBucket®, PicHammer® and the Powertech logo are registered trademarks of Powertech Canada Inc.

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

This press release contains information which re forward-looking statements reflecting the company’s expectations in regards to future events. Actual events can be materially different from those expected in 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 ext. 101
Fax: (450) 963-4411
E-mail: carol.murray@powertechci.com

Investor relations:
Mr. Marc Jasmin CMA
President
Jasmin Financial Communications Inc.
Phone: (450) 963-6400 ext: 202
Cell: (514) 231-2360
E-mail: marc@comfinjasmin.com

Media Relations:
Frédéric Tremblay
HKDP Communications and public affairs
Tel.: (514) 395-0375, ext. 234
E-mail: ftremblay@hkdp.qc.ca

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