NEWS RELEASE
Jan 24 2007

Dr. Dominic Geraghty Joins Tantalus as President & CEO

Vancouver, BC – January 24, 2007 – Tantalus Systems Corp. announces the appointment of Dr. Dominic Geraghty to the position of President & Chief Executive Officer. Tantalus, a developer, manufacturer, and marketer of advanced communications systems for utilities, will draw on Dr. Geraghty’s experience to guide the company through the next phase of technology innovation and business growth.

“Dom’s achievements in the utility technology sector coupled with his vision and energy make him the right leader for the company and its employees,” said John McEwen, Tantalus Chair and President of Discovery Capital. “His wealth of business and financial expertise in high-growth, technology-driven organizations complements Tantalus’ executive team and further strengthens its ability to increase revenue, product capabilities, and customer satisfaction.”

During his 25-year career in energy technology, Dr. Geraghty has been involved in every aspect of the development and commercialization of technology products as well as the management of companies from start-up through maturation, including first generation AMR/AMI firms. He founded several IT companies and helped numerous other energy service providers acquire venture capital, initiate strategic alliances and acquisitions, and bring their products to market. He also spent ten years at EPRI (Electric Power Research Institute) where he was responsible for launching and managing energy-related R&D programs. Dr. Geraghty’s publications include a book on energy venture fund investing and many peer-reviewed articles in industry journals. He holds a PhD in engineering and an MBA.

“Advanced metering is the cornerstone of the future’s smart energy grid,” said Dr. Geraghty. “With the adoption rate for AMR now at double digits, it’s a very exciting time to join a company that pioneered many breakthroughs. I look forward to working with our Board, management team, and business partners to increase the visibility of our solutions and execute on Tantalus’ vision for a comprehensive utility communications system that brings far reaching operational, economic, and environmental benefits to our utility customers and the people they serve.”

Dr. Geraghty succeeds Mr. Glen Brownlee who retired in December 2006. “Glen guided Tantalus through a crucial phase in the company’s growth and, indeed, as the market for advanced metering increased dramatically,” added Mr. McEwen. “Tantalus is indebted to Glen for his important contributions and we wish him a very happy retirement. We are confident that the expertise Dom brings will enable us to continue to expand the company and set new standards in product functionality and value.”

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About Tantalus

Tantalus designs, manufactures, and markets two-way, real-time data communications networks to monitor and control electric, gas, and water utilities. TUNet® – the Tantalus Utility Network – is a multi-purpose communications backbone specifically designed to help utilities automate their distribution infrastructure. The long-range wireless TUNet network unites a utility’s applications, making advanced metering, outage management, power quality monitoring, load management, and distribution automation cost-effective and practical throughout both urban and rural service areas. TUNet is deployed at utilities throughout North America and has earned several high profile industry awards. Tantalus is a private company based in Vancouver, BC with business development offices throughout the US and Canada.

For more information, please visit www.tantalus.com