Mr. Daniel Russell reports

SYNEX RENEWABLE ENERGY CORPORATION ANNOUNCES INITIATION OF STRATEGIC REVIEW

Synex Renewable Energy Corp.'s board of directors has initiated a strategic review of the company with the aim of enhancing shareholder value. The review will explore and evaluate all strategic alternatives available to the company, including the sale of the company.

Daniel J. Russell, chief executive officer of Synex, commented: "We have a strong and competitive business, with a diversified portfolio of renewable assets in a leading jurisdiction. That said, we believe the value of our assets is not fully realized. As a result, we have determined that pursuing a strategic review is the best path forward for Synex at this time. During this strategic review process, Synex will continue to move its approximately 5,000 megawatts of development projects forward as we look for the best next steps to realize on creating shareholder value."

While the board has not set a timetable for this process, nor has it made any decisions related to any strategic alternatives at this time, it hopes to have something concluded over the next several months. There can be no assurances that the board's review of strategic alternatives will result in a transaction. Synex does not intend to provide announcements of updates regarding this process unless or until it determines that further disclosure is appropriate or necessary.

Synex has retained Beacon Securities Ltd. as its financial adviser to assist with the strategic review process.

About Synex Renewable Energy Corp.

Synex is a company based in Vancouver, B.C., that is engaged in the development, acquisition, ownership and operation of renewable energy projects in Canada. It has ownership interests in 12 megawatts of operating hydro projects in British Columbia and owns a Vancouver Island grid connection and utility carrying on business as Kyuquot Power Ltd. The company also has 9.4 megawatts of construction-ready run-of-river projects, applications and land tenures on another 24 potential hydroelectric sites totalling over 150 megawatts of capacity as well as approximately 17 wind development sites that could provide up to 4,850 megawatts of clean power in British Columbia.

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