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Empower Technologies™ Company Update Announcement
Richmond, British Columbia - September 1, 2006 - Empower Technologies Corporation (“Empower”) (“TSXV: EPT”) is please to announce the updated report on the progress of the first LEOs licensing customers as reported on June 28th of this year. The Company has already delivered the software contract by the customer and has recently received the Purchase Order under the supply agreement. Due to the extremely competitive nature of their fast growing industry, the Customer has requested that Empower continue to keep their identity and business in strict confidence.
Empower is also currently working closely with a number of major potential customers to apply LDK591x software into their perspective industries. This will further prove that the LDK591x is vastly winning market acceptance.
Under the Empower University Program, the Company has signed two distributors and delivered products as a result. We foresee more Universities and Distributors joining and benefiting greatly from the program in the future.
Empower Technologies Corporation regretfully announces the resignation of Dr. K.T. Ma, the Chief Operating Officer ("COO") of its U.S. subsidiary-Empower Technologies Inc., due to family reasons. The change will become effective September 30, 2006, at which point The Company will appoint a new COO when a suitable candidate is found. Empower would like to thank Dr. Ma for his continuous positive contributions he has made within Empower and wishes him much success in all his future endeavors.
Empower also announces that it has approved the grant of options to Directors for 550,000 shares exercisable at $1.00 per share over a five year period.
About Empower Technologies™
Founded in 2000, Empower Technologies (TSX.V: EPT) is an innovative company that brings the power and flexibility of the LEOs® (LinuxDAT Embedded Operating System) to the dynamic embedded computing Industry and the emerging Intelligent Appliance Market, through their development of Linux-based operating software, embedded system technologies and solutions.
The products and services that form the base of its business activities include an embedded system development platform for LEOs®, based on Texas InstrumentsT embedded CPU platform, that fulfill the needs and demands of developers and the embedded computing Industry. Empower is continuing to develop LEOs® and newer versions of embedded CPUs in line with Texas InstrumentsT.
By uniting top professionals from within the computer industry and developing quality partnerships and strategic alliances, Empower is committed to being the leading developer of Linux-based operating software and embedded system technologies and solutions for electronics manufacturers and developers.
Empower's brands are "LEOs®", "LinuxDAT", Linux-based embedded operating systems and "PowerPlayT", smart consumer electronics.
Contact Information:
Media Enquiries:
Paul Leung - Chairman, President and CEO: pcleung@empowertechnologies.com or via Tel @ (604) 278-3100
Investor Relations: investorline@empowertechnologies.com
More Information on Empower Technologies: www.empowertechnologies.com
Sales Enquiries: sales@empowertechnologies.com or via Tel @ (604) 278-3100
Paul Leung
Chairman, President and CEO
Empower Technologies Corporation
# 405-5600 Parkwood Way
Crestwood Commerce Centre
Richmond , BC , Canada V6V 2M2
The statements contained in this news release that are not historical facts are forward looking statements. Such statements are based on management's estimates, assumptions and projections using available information. The company cautions that actual financial results could differ materially from the current expectations due to a number of factors.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transactions and has neither approved nor disapproved the contents of this press release.
Empower Technologies, LEOs, PowerPlay and LinuxDA are the trademarks of Empower Technologies, Inc. All other brands are trademarks of their respective owners.
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