Article: Turbo Power Systems Inc: Redemption of Loan Notes

CALGARY, ALBERTA--(CCNMatthews - Jan. 11, 2007) -

Turbo Power Systems Inc. (the "Company") (TSX:TPS)(AIM:TPS)

Further to the announcement made on 28 December 2006, the Company is pleased to announce the redemption of a further Pounds Sterling 4,500,000 loan notes, which completed on 6 January 2007. Following this redemption a total of Pounds Sterling 9,360,000 loan notes (Pounds Sterling 5,000,000 Loan Notes 2003 and Pounds Sterling 4,360,000 Loan Notes 2005) have been redeemed in exchange for either common shares of no par value in the Company ("Common Shares") or A- Shares in Turbo Power Systems Ltd ("A-Shares").

The Company is pleased to announce that the fundraising transaction ...

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