International Power Group Signs Letter of Intent to Acquire 50% of TAT

Business Wire, Nov 15, 2004

LODI, N.J. -- Second graph, last sentence should read: xxx to invest $1,200,000 for land development and $1,400,000 (sted xxx to invest $1,2000,000 for land development and $1,4000,000).

The corrected release reads:

INTERNATIONAL POWER GROUP SIGNS LETTER OF INTENT TO ACQUIRE 50% OF TAT

International Power Group, Ltd. (Pink Sheets: IPWG) announced today that it has executed a Letter of Intent to Acquire 50% of Tratamientos Ambientales Tecate (TAT) a Mexican Corporation.

TAT's core business consists of the remediation and disposal of hazardous waste in Mexico. TAT's President Joseph Caywood stated, "TAT's contracts with Transportacion Integral Industrial, S.A. DE C.V. envisions four hundred tons a day of remediation and disposal of hazardous waste which would result in revenues of forty-nine million six hundred thousand dollars ($49,600,000 US) for 2005. TAT has the ability, under these contracts to increase that amount to fifteen hundred tons a day bringing revenues up to one hundred seventy eight million dollars ($178,000,000 US) annually." International Power intends to invest $1,200,000 for land development and $1,400,000 in hazardous remediation equipment for TAT's operations.

About International Power Group, Ltd:

International Power Group is dedicated to the promotion of cooperation among energy producing industries and nations through the advance of environmentally friendly practices and the continued development of cutting edge technologies. Through its international contacts, the Company is uniquely positioned to address the various waste management needs of developing industrial nations as well as the waste disposal needs of industrial nations in Asia and the Pacific Rim. The Company offers services that included the following; Waste Reduction; Remediation; Compaction; and Shallow Burial of Hazardous Waste.

Safe Harbor Act Disclaimer: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward- looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company's actual results, performance, and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements.

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