William Helmer Joins Innovative Energy Company

ALBANY, NY (11/12/2008)(readMedia)-- Riverbank Power Corporation ("Riverbank") today announced that William S. Helmer, a distinguished attorney and recognized leader in environmental and energy law and policy, has been appointed Vice President, General Counsel, and Secretary of the company. Helmer moved to the company on November 1^st after a long career in public service and in private practice. Most recently, he headed the environmental practice group of Green & Seifter Attorneys, PLLC.

Until May of last year, Helmer served as Special Counsel to the New York Power Authority, where he guided the federal relicensing of the Authority's major hydropower projects. From 1995 to 1999, Helmer served as Chief of the State Attorney General's Environmental Protection Bureau, where he oversaw over 600 cases in state and federal courts.

"Bill Helmer is one of the top energy lawyers in New York and will be a great asset as we pursue our company's goal of becoming a leading producer of clean independent energy," said John Douglas, President and CEO of Riverbank Power. "His knowledge and experience will be invaluable to Riverbank, and we are extremely pleased he has accepted our offer to join us."

"I am excited to be joining a company that is in the vanguard of renewable energy development," Helmer said. "Riverbank is prepared to bring real solutions to the market place, and I look forward to using my experience in these areas to bring the company's projects to realization."

Helmer hosts the "Capital Green Scene," a weekly radio program focusing on environmental and energy issues. The program is broadcast Saturdays at 1 PM on WVCR 88.3 FM. He is also a contributor to the Green Blog hosted on the Albany Times Union web site. He received his Masters degree from Columbia University and law degree with honors from the State University of New York at Buffalo. A lifelong New Yorker, Helmer grew up in the Village of Morrisville and graduated from nearby Hamilton College. He lives in Delmar, New York with his wife, Maureen, and their three children.

Who is Riverbank Power?

Riverbank Power's vision is to become the leading independent power producer of underground renewable power generation facilities in North America. With a portfolio of over 14 proposed projects across North America, its goal is to develop 5,000 MW of AquabankTM facilities over the next five years to meet the clean power needs of the communities it serves and also to assist in the integration of wind generation through the storage capabilities of pumped storage technology.

Riverbank Power's lead investor is Blackrock®, which is a premier provider of global investment management, risk management, and advisory services to institutional and retail clients around the world. As of 30 September 2008, Blackrock's assets under management totaled $1.2 trillion. Riverbank's website can be accessed at: www.riverbankpower.com.