AXP Quattro Exploration & Prod Ltd

AccelRate Power Systems Inc. (TSX VENTURE: AXP) (the "Company") is pleased to announce that it has completed its non-brokered private placement announced on March 31, 2011, issuing 1,000,000 common shares at the price of $0.53 per share to raise gross proceeds of $530,000.

In connection with the financing, the Company has agreed to pay cash finders' fees equal to 8% of the gross proceeds derived from the offering and, in addition, to issue finder's warrants exercisable to purchase that number of common shares which is equal to 8% of the total number of shares issued by the Company pursuant to the offering. The 80,000 finder's warrants will be exercisable until April 11, 2016 at the price of $0.66. All shares issued pursuant to the offering and any shares issued pursuant to the exercise of finders' warrants will be subject to a four-month hold period expiring at midnight on August 11, 2011. The proceeds from the offering will be used to pay existing indebtedness, to fund costs associated with the Company's proposed Change of Business ("COB") announced November 24, 2010 and for general working capital. The Company has now filed a draft Information Circular and other documentation relating to the COB with the Exchange.

Investors are cautioned that, except as disclosed in the Filing Statement or Management Information Circular to be prepared in connection with the proposed COB, any information released or received with respect to the COB may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative. The Exchange has in no way passed upon the merits of the proposed COB and has neither approved nor disapproved the contents of this press release. There can be no assurance that the contemplated transactions will be completed as proposed or at all.

ON BEHALF OF THE BOARD

Reimar Koch, President, AccelRate Power Systems Inc.

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.

Contacts: AccelRate Power Systems Inc. Reimar Koch (604) 688-8656 (604) 688-8654 (FAX) info@accelrate.com