Wind Power Agreement

AAER Systems Inc. has just completed an agreement in the field of wind energy with the German firm Pfleiderer. According to Dave Gagnon, president of the Quebec company, the first phase of this agreement will allow AAER Systems to distribute a proven technology, while the second phase will enable it to produce high capacity wind turbines. This transaction will result in a multi-million dollar investment to set up two plants and a research center in Quebec starting in the beginning of 2004. The second phase will involve the transfer of technology for three models of wind turbines for which AAER Systems will hold exclusive rights in the Americas.

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