BPL Global Receives $23 Million in Funding

Investors include Morgan Stanley, IFA Group, Novitas Capital, El Dorado as well as a new partner

PITTSBURGH – August 5, 2008 – BPL Global^®, Ltd. (BPLG), a smart grid technology company dedicated to leading the transformation of energy and information delivery, has received $23 million in funding, consisting of growth capital, bank financing and acquisition financing. Existing investors, IFA Group, Novitas Capital, El Dorado, and Morgan Stanley provided funding, as well as Cross Atlantic Capital Partners, a new investor to BPLG. The bank financing was provided by Bridge Bank N. A. BPLG intends to raise additional equity through private placements from select strategic investors in the third and fourth quarters of 2008. The financing raised will be used to accelerate product development, support corporate development and increase sales and business development teams globally.

“We expect, and are on track, to exit this year as a profitable company with positive cash flow and a strong international business base,” said Keith Schaefer, CEO of BPLG. “We are fortunate to have the confidence and financial backing of our investors. We see growth in demand for smart grid solutions escalating worldwide, driven by the necessity for energy efficiency and operational reliability.”

BPLG continues to secure projects and establish partnerships in both North America and internationally. Recently, BPLG collaborated with Jersey Central Power and Light (JCP&L), a subsidiary of FirstEnergy Corporation, to deploy an Integrated Distributed Energy Resource (DER) management system to demonstrate energy efficiency and reliability as well as customer satisfaction in JCP&L’s service area. The company established partnerships in the Ukraine to deploy smart grid and BPL communications solutions. BPLG also formed a partnership with BPL Africa to expand smart grid and communications projects in Ghana while pursuing projects in other African countries. BPLG won a key smart grid project in South Africa as the country prepares to host Soccer’s World Cup in 2010. In addition, the company recently started an electrical distribution network fault location project in Thailand and is developing a similar fault location project in Venezuela.

“BPLG has a solid track record of integrating its technology with significant players in the utility space across the globe,” said Abdulwahab Al-Nakib, Chairman and Managing Director of Al-Deera Holding Company, on behalf of the IFA Group. “We continue to invest in BPLG based on their strong business performance and incisive vision of solutions that will transform energy delivery.”

“This investment is in support of our belief that the international development of intelligent electrical grids is an emerging market poised for rapid expansion,” said Richard Fox, managing director of Cross Atlantic Capital Partners.

“We are pleased to be working with BPLG, said Paul Gibson, Senior Vice President, Eastern Region Market Manager of Bridge Bank N.A. “Their history of growth and success in deploying smart grid solutions globally points to the strength of their management team and the market opportunities they are focused on.”

Creating more reliable and efficient electric grids to address the issues of greenhouse gas emissions, a growing supply/demand imbalance, aging infrastructure and the requirements for alternative generation such as renewable wind and solar energy drive the need worldwide for more intelligent electric grids.

About BPL Global
BPL Global, Ltd. (BPLG) is a smart grid technology company dedicated to leading the transformation of energy and information delivery. The company provides software solutions and services to electric utilities enabling an intelligent grid to more efficiently manage demand, integrate distributed energy resources, improve service reliability, and optimize cost and capital productivity. BPL Global partners with local utilities, Internet service providers, equipment suppliers and financiers to create end-to-end solutions integrating the best in software, communications, hardware and managed services to aggressively deploy smart grid solutions around the world. Part of the clean technology sector of the electric utility industry, our applications provide the critical foundation for a coordinated, intelligent grid to deliver energy more efficiently for a greener environment.

About Bridge Bank, N.A.
Bridge Bank, N.A. is Silicon Valley's full-service professional business bank. The Bank is dedicated to meeting the financial needs of small, middle-market, and emerging technology businesses. Bridge Bank provides its clients with a comprehensive package of business banking solutions delivered through experienced, professional bankers. Visit Bridge Bank on the web at www.bridgebank.com.

Various statements in this press release, including those that express a belief, expectation, or intention, as well as those that are not statements of historical fact, are forward-looking statements. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future results, revenues, income and capital spending. The use of the words "believe," "intend," "expect," "may," "will," "should," "anticipate," "could," "estimate," "plan," "predict," "project," or their negatives, or other similar expressions, indicates that the statements may include forward-looking statements. Any description of strategy that involves risks or uncertainties indicates the use of forward-looking statements. The forward-looking statements in this press release speak only as of the date of this release; BPLG disclaims any obligation to update these statements unless required by law, and the reader is cautioned not to rely on them unduly. BPLG has based these forward-looking statements on current expectations and assumptions about future events. While the Company's management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and which may be beyond BPLG's control.

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