IPWG International Power Group Ltd (CE)

€International Power Group, Ltd. (Pink Sheets:IPWG), a leading provider of waste-to-energy solutions, including waste-to-energy development and waste-to-energy technologies, reported today that the audit of its financial statements for the year ended December 31, 2008 audits has been completed.

John Benvengo, IPWG's President and Chief Executive Officer stated, "We are pleased to have completed our audit for fiscal 2008 and will now focus our efforts on completing the audit for the year ended December 31, 2009 and the review of the 1st two quarters of 2010 which together will allow us to become fully reporting again under the Securities Exchange Act of 1934. In light of the cost involved, upon receipt of the anticipated funds from the funding group we intend to fast-track our work to complete this important task."

The Company also announced that it has received not only further assurances from the funding group regarding IPWG's imminent receipt of €5,000,000, but also John Benvengo and Peter Toscano have received an Executive Summary from the group inviting Messrs. Benvengo and Toscano to join them in Beijing, China next month to work closely with start-up operations in the green energy sector with an IPWG office in Beijing, China, further evidencing the funding group's total commitment to IPWG and its management team led by John Benvengo and Peter Toscano. 

About International Power Group, Ltd.

International Power Group, Ltd., is a leader in the development and implementation of new cutting-edge technologies that maximize recycling values while providing environmentally safe disposal of solid waste and hazardous materials.  Through the application of these new technologies, solid wastes and hazardous materials can be minimized to their maximum extent while producing significant secondary benefits such as clean energy and clean water.  Founded in 2004, IPWG is a publicly traded company, listed on the Pinksheets.

FORWARD-LOOKING STATEMENTS

This document 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 forward-looking statements are based on current expectations, estimates and projections made by management and include statements regarding becoming fully reporting, receiving the €5,000,000 and establishment of operations in Beijing, China. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements.  All forward-looking statements in this press release are made as of the date of this press release, and the company assumes no obligation to update these forward-looking statements other than as required by law.  Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements, including the risks that the receipt of the funding will be further delayed, that the project (and others) will be timely completed and that the DTC chill can be lifted. These statements relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations.  We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.

CONTACT:  International Power Group, Ltd.
          John Benvengo, CEO/President
          407-566-0318
          www.i-pwg.com