PSFT Powersafe Technology Corp New (CE)

Powersafe Technology Corp. (OTCBB: PSFT) announced that Mikhail Leibov has been elected to the company's board of directors, as well as the board of its wholly owned subsidiary Amplification Technologies, Inc. (ATI). Mr. Leibov will also act as a consultant to Powersafe and ATI.

Mr. Leibov has a long and successful career in the computer and telecommunications fields. He launched several startups and led the teams at IBM, AT&T and Prodigy that developed some of the largest real time database systems and key components of the Internet, including the first Web-based e-commerce system.

Mr. Leibov founded and was the CEO and chairman of Corbina Telecom, one of the largest telecom carriers in Russia, from its inception until 2007. Mr. Leibov grew Corbina Telecom from a startup into a far-flung enterprise offering a range of services throughout major markets in Russia. During Mr. Leibov's stewardship, Corbina was sold at successively higher prices three times, ultimately for over $300 million. Thereafter, he was chairman and president of IDT Telecom until April 2008, managing several divisions of IDT and offices in almost 30 countries.

Mr. Leibov has a masters of science degree in mathematics and applied computer science from Moscow University.

"We welcome Mr. Leibov to our board, and are privileged to have such an outstanding entrepreneur advising Powersafe," said Jack N. Mayer, president of Powersafe Technology. "Mr. Leibov brings valued expertise in building successful products and companies and will be a strong asset."

"I am very pleased to join the Powersafe Technology board of directors at this time," said Leibov. "They have a compelling market opportunity and have already made great progress in commercializing their patented technologies."

About Powersafe Technology Corp. (OTCBB: PSFT)

Based in New York, Powersafe Technology, thru its wholly owned subsidiary ATI, (www.amplificationtechnologies.com) seeks to transform the field of low-level signal detection. The company's patented platform semiconductor technology has the potential to offer unparalleled and far-reaching benefits to industries such as medical diagnostics, drug development, scientific instrumentation and homeland security. The technology has been successfully used to develop extremely sensitive detectors of low levels of light and the company believes its detectors will be used in many existing applications as well as open up new markets. ATI's technology is patented to encompass detection of signals other than light, and could in principle be used to create highly sensitive biological, radiological, electrical, and chemical sensors.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of Powersafe and Amplification. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties inherit herein and set forth in Powersafe's SEC filings and such other matters as are contained therein. These risks and uncertainties could cause actual results to differ materially from those indicated in the forward-looking statements.

PR Contact(s) Jack Mayer President Powersafe Technology Corp. (718) 951-8021 Email Contact Bennie Sham Fusion PR (212) 651-4219 Email Contact