Mr. Mervyn Pinto reports

MINAEAN SP ANNOUNCES PROPOSED NAME CHANGE AND SHARE CONSOLIDATION

Minaean SP Construction Corp.'s board of directors has approved a change of the company name to Global Power Solutions Corp. and a consolidation of the company's outstanding common shares on the basis of one postconsolidation common share for five preconsolidation common shares. The name change and consolidation remain subject to TSX Venture Exchange approval. The effective date and further details of the name change and consolidation will be disclosed in a subsequent news release following receipt of all requisite approvals.

Shareholders approval is not required and shareholders will not be required to take any action in connection with the name change and consolidation. The company believes the name change and consolidation will help position Minaean to appeal to a broader base of investors and enhance its capital markets profile. "Today marks a defining moment in our company's evolution. With the name change, we are making it clear to the market and world, as per our past few news releases, that Minaean's business strategy is being expanded to the pursuit of other industrial opportunities, including the development and execution of solar power projects," stated Mervyn Pinto, chief executive officer, president and director.

"We continue to review opportunities in the power space and look forward to updating our shareholders if the board decides to pursue any of them."

We seek Safe Harbor.