RNS Number:3292N
Turbo Genset Inc.
09 July 2003



                                                                     9 July 2003



                  TURBO GENSET SECURES GBP5,000,000 FINANCING


Turbo Genset Inc. is pleased to announce that it has entered into a #5,000,000
(C$11,150,000) financing agreement with Island Investment (Securities) Ltd. &
Argun Investments Limited. The financing comprises Convertible Notes and
Warrants. The Convertible Notes have a term of five years, bear an annual
interest rate of 3.5% and are convertible into an aggregate of 25 million Common
Shares of Turbo Genset Inc. at a conversion price of #0.20 (C$0.446) per share.
The Warrants have a term of three years and are convertible into an aggregate of
3.5 million Common Shares of Turbo Genset Inc. at an exercise price of #0.15
(C$0.335) per share. No commissions are payable pursuant to this financing. The
financing is scheduled to close by Friday 11 July 2003.


The funds will be used to continue the development of products in the three key
areas of Turbine based systems above 175kW output, Variable Speed Generator
systems below 175kW output and Power Electronics, and provide working capital.
In May 2003 the Company reported that it had #11.1 million (C$ 25.8 million) of
cash as at 31 March 2003.


Island Investment (Securities) Ltd. and Argun Investments Ltd. are associated
with Kadoorie Family interests. The Kadoorie Family has wide interests in Asia
including CLP (Holdings) Ltd. and The Hong Kong & Shanghai Hotels, Ltd.


Mr. Dickson Leach, Chairman of Sir Elly Kadoorie & Sons Ltd, stated, "In
addition to the financial support, we hope to assist with the marketing of Turbo
Genset products in the Far East in countries such as the Peoples Republic of
China & Thailand."








For further information, please contact:

Turbo Genset Inc                           Tel: +44 (0)20 8564 4460
United Kingdom
Peter Hollins, Chief Executive Officer
Fraser Searle, Chief Financial Officer
Website:                                   www.turbogenset.com
                                        

Gavin Anderson & Company (PR)              Tel: +44 (0)20 7554 1400
Ken Cronin                                 Email: kcronin@gavenanderson.co.uk

Seton Services Inc (IR)                    Tel: +44 (0)20 7373 3536
Toni Vallen                                Email: toni@setonservices.com
                                          



NOTES TO EDITORS

About Turbo Genset

Turbo Genset develops innovative products for power generation and power
conditioning. The Group was established in 1993 as a spin-off from Imperial
College, London and was floated on the London stock exchange in July 2000 and
soon after obtained a secondary listing in Toronto.

In July 2001, the Group acquired Intelligent Power Systems Limited (I-Power)
specialising in power electronics.

About Power Electronics

Power electronics products take a range of power inputs and condition them to
achieve outputs of precisely defined characteristics for applications such as
industrial lasers, Ultra Violet sterilization systems and railway power
electronics systems.

Forward Looking statements

This news release contains forward-looking statements. Forward-looking
statements include statements concerning plans, objectives, goals, strategies,
future events, or performance, and underlying assumptions and other statements
that are other than statement of historical fact. These statements are subject
to uncertainties and risks including, but not limited to, the ability to meet
ongoing capital needs, product and service demand and acceptance, changes in
technology, economic conditions, the impact of competition, the need to protect
proprietary rights to technology, government regulation, and other risks defined
in this document and in statements filed from time to time with the applicable
securities regulatory authorities.






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            The company news service from the London Stock Exchange

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