MXG Maxim Power Corp

Maxim Power Corp. ("MAXIM" or the "Corporation") (TSX:MXG) announced today that
it has entered into a new credit agreement with the Bank of Montreal ("BMO").
The agreement provides for term debt financing of $35 million, a $10 million
revolving facility for general corporate purposes, and a $3.5 million risk
management facility to support treasury requirements.


The term facility will be used to support MAXIM's capital requirements and repay
existing debt of $28.6 million with the Bank of Montreal. This facility has a
three-year term, bears interest at floating rates, and requires amortization of
principal over five years. MAXIM has entered into an interest rate swap
agreement that locks in the interest rate on the drawn portion of the term loan
of $28.6 million at a rate ranging from 3.99% to 4.74%. The undrawn portion of
$6.4 million will be used to support MAXIM's future capital requirements.


About MAXIM

Based in Calgary, Alberta, MAXIM is an Independent Power Producer, which
acquires or develops, owns and operates innovative and environmentally
responsible power projects. MAXIM currently owns and operates 37 power plants in
western Canada, the United States and France, having 773 MW of electric and 137
MW of thermal generating capacity. Approximately 80% of MAXIM's current
portfolio is comprised of clean burning natural gas, high efficiency
cogeneration, waste heat and landfill gas fuelled generation. MAXIM trades on
the TSX under the symbol "MXG". For more information about MAXIM, visit our
website at www.maximpowercorp.com.


Statements in this release which describe MAXIM's intentions, expectations or
predictions, or which relate to matters that are not historical facts are
forward-looking statements. These forward-looking statements involve known and
unknown risks and uncertainties which may cause the actual results, performances
or achievements of MAXIM to be materially different from any future results,
performances or achievements expressed in or implied by such forward-looking
statements. MAXIM may update or revise any forward-looking statements, whether
as a result of new information, future events or changing market and business
conditions and will update such forward looking statements as required pursuant
to applicable securities laws.

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