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Newsletter
October 4, 2001
Volume IV, Issue 84
Email : info@otcjournal.com
URL : http://www.otcjournal.com

To OTC Journal Members:
 

Special Announcement on Astralis/Hercules Development Group (OTC BB: HDVG)

Several days after we released our long anticipated Fall Profile on Astralis LLC it came to our attention the file size of the profile was too large for many systems. AOL zipped the file and made it impossible to read. Several other ISPs corrupted the file in other ways or simply deleted it.

We have altered the size slightly by making some changes you cannot detect, and we are republishing the profile in its entirety this Saturday morning. Fortunately, the stock is down slightly from last Monday, making the entry level even more attractive.

AOL members should always use the first link at the top of the newsletter and read the web page version of the OTC Journal.

One Important Note: While many email environments corrupt the newsletter's appearance, it looks the same to everyone on the web page version. You can always access the web page version by going to the following web address: http://listserv.otcjournal.com. Please save this web address in your favorites, and simply go to it when you see the OTC Journal in your inbox. The current edition is available the moment it begins going out of our mail server. This way, you will always be able to view the newsletter in the manner intended regardless of your email capabilities.
 

News On Energy Power Systems (OTC BB: EYPSF)


Today, shortly after the market closed, Energy Power Systems issued its first press release in some time. We are hoping this new contract becomes the catalyst to propel the stock back above the $3 level where it was just prior to the September 11th Attack on America.

We are approaching a time period where we expect news flow to pick up from Energy Power once again. Contracts awards should begin on the infrastructure build out for Husky's $2 Billion White Rose project, and EPS's M&M Engineering Division should get a strong flow of business from this major off shore drilling program in Atlantic Canada.

As depicted on this map, the White Rose off-shore drilling project is located adjacent to both the Hibernia and Sable Offshore sites. Both of these fields are maturing, and both have generated billions in revenues for the major oil companies.

In today's press release, Energy Power Systems disclosed its M&M Engineering and Offshore Division recently was awarded a $3 million contract with North Atlantic Refining Ltd. of Newfoundland. The press release goes on to say the project will be completed by November 30, 2001, and 100 trades people will be employed on this job.

The awarding of this contract to the M&M division serves to remind investors that Energy Power's unique business model insulates the company from commodity price swings. Despite the recent drop in natural gas and crude oil price, Energy Power is still positioned for expansion as multi-year infrastructure construction projects move forward. EPS can now use the leverage of its successful construction division to continue acquiring cash flow producing properties at bargain basement prices.

Here is the complete text of the news release for your review. We are expecting a rebound in the stock in conjunction with this news.
 

Thursday October 4, 4:28 pm Eastern Time
Press Release
SOURCE: Energy Power Systems Limited

Energy Power System's Engineering & Offshore Division Awarded Additional $3.0 million Contract as Atlantic Canada's Offshore Industry Expands

TORONTO--(BUSINESS WIRE)--Oct. 4, 2001--Energy Power Systems Limited (OTC/BB: EYPSF - news), an integrated energy source & service company operating as an Oil & Gas Division and an Engineering & Offshore Division announced today that it's Engineering & Offshore Division has been awarded a $3.0 million dollar contract from North Atlantic Refining Ltd. (NARL) of Newfoundland. 

The contract is for the rebuild of a Process Heater and includes associated structural steel fabrication and installation. This work is part of the Refinery's annual maintenance and upgrading program. Work on the contract, which has already commenced, will require upwards to 100 tradespeople and is expected to be complete by Nov.30,2001. 

About North Atlantic Refining Ltd. (NARL) NARL operates the 105,000 barrels per day Refinery at Come-By-Chance, Newfoundland. The strategic location on the main North Atlantic shipping route allows NARL to bring crude oil from overseas and new offshore oil fields in Atlantic Canada and ship refined petroleum products anywhere in the world. NARL holds the largest refinery dock in North America with extensive tankage facilities and is only 3 sailing days from New York. 

About Energy Power Systems Limted 

Energy Power Systems Limited (EPS) (OTC BB: EYPSF - news; CDNX: YPS - news) is an integrated energy source & service company taking advantage of the current upward trends in this critical sector. Investors, governments and industry are increasingly looking at oil and gas as an integral part of a financial plan. Some money managers are focussing on oil & gas service companies that profit from building and maintaining the huge production infrastructures, rather than just oil & gas producers whose profits fluctuate with the price of oil. With growing cash flow from its Oil & Gas Division and ongoing revenues from its Engineering & Offshore Division Energy Power is positioned to perform throughout the energy cycle. 

Certain of the statements contained in this news release are forward-looking statements. While these statements reflect the Corporation's current beliefs, they are subject to uncertainties and risks that could cause actual results to differ materially. These factors include, but are not limited to, the demand for the Corporation's products and services, economic and competitive conditions, access to borrowed or equity capital on favourable terms, and other risks detailed in the Corporation's Form 20-F and Annual Report. 
--------------------------------------------------------------------------------
Contact: 

     Energy Power Systems Limited
     Sandra J. Hall, 416/861-1484
 


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The OTCjournal.com Newsletter is an independent electronic publication committed to providing our readers with factual information on selected  publicly traded companies. All companies are chosen on the basis of certain financial analysis and other pertinent criteria with a view toward  maximizing the upside potential for investors while minimizing the downside risk, whenever possible.  Moreover, as detailed below, this publication accepts compensation from certain of the companies which it features.  Likewise, this newsletter is owned by MarketByte, LLC.  To the degrees enumerated herein,  this newsletter should not be regarded as an independent publication.

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