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Turbo Genset Inc. (TGN)

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Tuesday 17 July, 2001

Turbo Genset Inc.

GE Phase II

Turbo Genset Inc.
17 July 2001


For immediate release: 17 July 2001


                  TURBO GENSET and GENERAL ELECTRIC COMPANY

                   ENTER INTO PHASE II OF THE HYBRID TURBO


Turbo Genset Inc ('Turbo Genset') and General Electric Company ('GE') announce
that Phase I of the development program to demonstrate a hybrid turbocharger
for internal combustion engines has been completed and that the parties have
signed an agreement to proceed with Phase II under which prototype commercial
scale components are to be built and evaluated.


Pursuant to this development program, Turbo Genset will contribute its
patented high-speed motor/generator and control electronics design and GE
through its Corporate Research and Development Centre and its GE
Transportation Systems business operations will provide validation of the
technology.


Colin Besant, Chairman of Turbo stated:

'With the successful demonstration of performance of the technology
demonstrator, we are pleased to continue our relationship with GE. '


- ENDS -


For further information, please contact:

Turbo Genset Inc.

Colin Besant, Chairman and Chief Executive,     Tel: +44 (0)20 8570 2946

Fraser Searle, Chief Financial Officer,

Mike Ristic, Director, Turbo Genset Co. Ltd

Hassan Mansir, Director, Turbo Genset Co. Ltd

Richard Kapuscinki, Turbo Genset North America Tel: (416) 369-9790

Website:     www.turbogenset.com



The Wriglesworth Consultancy (PR)

Michelle James     Tel: +44 (0)20 7620 2228

Mobile: +44 (0) 7958 451 446



General Electric

Ricky Shapiro


NOTES TO EDITORS

Turbo Genset Inc. states that, through its wholly owned subsidiary, The Turbo
Genset Co. Ltd, based in London, UK, has initiated commercialisation of the
technology it has developed in relation to high-speed permanent-magnet machine
systems for power generation, transportation and industrial applications. With
its low weight and small size, the machine systems' applications include
mobile power generation, distributed power, standby power and hybrid
turbochargers for medium to large diesel engines for trucks and locomotives.


The shares of Turbo Genset Inc. are listed on the London Stock Exchange

(www.londonstockexchange.com under the symbol TGN) and the Toronto Stock

Exchange (www.tse.com under the symbol TGN).