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VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 7, 2010) - AccelRate Power Systems Inc. (TSX VENTURE:AXP)(FRANKFURT:KCG) announced on March 15, 2010 that it had entered into an agreement (the "Agreement") to purchase eight petroleum and natural gas leases (the "Leases"), subject to acceptance by the TSX Venture Exchange.

The terms of the proposed Agreement were not acceptable to the TSX Venture Exchange. The vendors have therefore terminated the Agreement. The Company expects to be reinstated for trading early next week.

Reimar Koch, President and CEO

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the company's Management Discussion & Analysis filed with its interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulators. The Company does not assume any obligation to update any forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.