International Power Group Formed Subsidiary in Saudi Arabia.

CELEBRATION, Fla. -- First graph, first sentence of release should read: International Power Group Ltd., (OTCPK: IPWG) has completed formation and incorporation of its subsidiary (sted International Power Group Ltd., (OTCPK: IPWG) has completed formation and incorporation of its wholly-owned subsidiary).

The corrected release reads:

INTERNATIONAL POWER GROUP FORMED SUBSIDIARY IN SAUDI ARABIA 

International Power Group Ltd., (OTCPK: IPWG) has completed formation and incorporation of its subsidiary, IPWG Saudi Limited, to be headquartered in the Kingdom of Saudi Arabia. After receiving an environmental license from the Kingdom of Saudi Arabia's Presidency of Metrology and Environment (PME) in July 2006, the Company formed IPWG Saudi Limited and the filed papers of incorporation with the Saudi Arabian General Investment Authority (SAGIA). Forming, this subsidiary was the next step for IPWG in the process of establishing waste-to-energy plants in Saudi Arabia.

SAGIA, was created by the Government of Saudi Arabia to actively work with the government and other agencies towards the continued development of the country. SAGIA, is the gateway to outside investment in Saudi Arabia, whose mission is to create a pro-business environment, provide comprehensive services to investors and foster investment opportunities in energy.

Peter Toscano IPWG Chairman and CEO, said: "Our being granted the environmental license in July by the Kingdom of Saudi Arabia was a major milestone for the Company. This license enabled us to create IPWG Saudi Limited and continue the process of establishing waste-to-energy plants in a country that has a great need for 'greener' forms of electricity, potable water and waste management."

About International Power Group, Ltd.

International Power Group, Ltd. is a multifaceted alternative energy solutions company dedicated to providing energy solutions in a sustainable, environmentally-friendly manner. Through its subsidiaries, strategically placed around the world, and its strategic partnerships, IPWG intends to provide turnkey waste disposal, electricity and potable water production plants and systems. The Company intends to establish waste-to-energy facilities to convert commercial, hazardous, organic and toxic wastes into saleable electricity and potable water. IPWG believes it is uniquely positioned to produce revenue from in-processing waste and out-processing electricity and drinking water, addressing the growing need globally for renewable "green" sources of energy.

FORWARD-LOOKING STATEMENTS: 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. For a discussion of such risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-KSB, as amended, for the most recently ended fiscal year. 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.