FOR IMMEDIATE RELEASE

PPR Guddu plant follows Nauredo plant into production

OKLAHOMA CITY (July 20, 2009) – Walters Power International announced today that funding is complete on Pakistan Power Resources’ $65 million, 110MW electrical plant in Guddu, Pakistan.

Pakistan Power Resources is an Oklahoma-based company with majority ownership in Pakistan. Partners in Pakistan Power Resources include Pakistan-based Associated Group and Oklahoma City-based Walters Power International.

Walters Power International David Walters said his company has issued a notice to proceed on the plant. The announcement comes roughly a month after funding was approved for an electrical plant in Nauredo, Pakistan.

“Pakistan is a rapidly developing nation where energy demand lags dramatically behind supply. It’s not enough to simply build power plants in these situations. The plants must be funded and online quickly,” said Walters. “In developing nations, this can be the difference between people having jobs or people going hungry. Peace or civil unrest. Thanks to a combination of expertise in this space and an inventory to ready-to-roll equipment, Walters Power International brings a sense of immediacy to the production of electrical power plants around the world.”

Tulsa-based ProEnergy Services EPC is on the ground in Pakistan and organizing local subcontracting on the Nauredo site.

In April, Iqbal Z. Ahmed, founding chairman of Associated Group visited the Oklahoma State Capitol to announce nearly $100 million in contracts to Oklahoma-based businesses for the engineering, procurement, and construction of a pair of power plants in Pakistan.

In addition to these plants WPI and PPR have developed a 136MW power project in Bhikhi and is developing a 205MW rental power project in Korangi, Pakistan, a 192MW project in Multan and has recently participated in the purchase of the stock for a new independent power project near Karachi that will produce 133 MW.