MP

MicroPlanet Technology Corp. ("MicroPlanet" or the "Corporation") (TSX
VENTURE:MP)(PINKSHEETS:MCTYF) a provider of smart grid and power quality
technology and products, which significant increases efficiency, quality and
conservation of electricity and enables the integration of up to 95%+
penetration of alternative energy into electrical grids' low voltage networks is
pleased to announce the closing of the first tranche of its previously announced
non-brokered private placement. The Corporation issued 5,558,200 Units at a
price of $0.02 per Unit for gross proceeds of CDN$111,164. Each Unit was
comprised of one common share in the capital of the Corporation and one common
share purchase warrant. Each warrant entitles the holder to acquire one common
share in the capital of the Corporation at any time until the date that is 36
months following the closing date upon payment of the exercise price of $0.02
per common share. 


The Units were sold pursuant to applicable registration and prospectus
exemptions to qualified investors in the United States. The common shares and
any common shares acquired pursuant to the exercise of the warrants comprising
the Units are subject to a four-month hold period in accordance with applicable
securities laws. 


Over the past three months MicroPlanet has successfully delivered products
totaling approximately $186,000 in revenue to three of the leading utilities and
the largest pole mounted transformer manufacturer in Australia, United Energy
Ltd. ("United"), Essential Energy ("Essential"), SA Power Networks ("SA Power")
and Tyree Industries Pty Ltd Australia ("Tyree"), respectively. The MicroPlanet
shipments to United, Essential and Tyree represented new product lines being
acquired for in field testing that the Corporation believes will lead to
significant follow on orders. SA Powers received MicroPlanet products that
enable enhanced communication functionality. 


Over this same three-month period, the Corporation's operating subsidiary,
MicroPlanet, Inc., has initiated comprehensive measures to preserve operating
capital. These measures have included an across the board payroll deferment and
significant layoff of personnel. Management is confident that key personnel that
have been laid off can be re-employed as its operating capital positioned is
strengthened. In the interim, management continues to support and expand its
relationships with existing and prospective customers, within and beyond
Australia.


About MicroPlanet Technology Corp.

MicroPlanet Technology Corp. is a smart grid, energy conservation company, whose
technology dynamically and steplessly regulates voltage with unrivaled speed and
accuracy using its patented and advanced power electronics. MicroPlanet's
technology solutions have been deployed in seven countries by more than 20
utilities, the U.S military and multiple commercial customers to manage voltage
on networks, save energy, improve power quality and grid efficiency and to
facilitate the integration of renewable energy sources, including solar and
wind. MicroPlanet is based in Seattle, WA and is listed on the TSXV and trades
on the OTC under the stock symbol: MP and MCTYF, respectively.
www.microplanet.com 


NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THE TERM
DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE.


FOR FURTHER INFORMATION PLEASE CONTACT: 
MicroPlanet Technology Corp.
Joe Tanner
President & Chief Executive Officer
360-910-1600
206-625-0999 (FAX)
jtanner@MicroPlanet.com


MicroPlanet Technology Corp.
Edward Garth
Chief Financial Officer
206-790-7790
206-625-0999 (FAX)
egarth@microplanet.com
www.microplanet.com

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