Azure Dynamics to Hold Annual General Meeting In Metro Detroit

OAK PARK, MI, May 21 /CNW/ - Azure Dynamics Corporation (TSX: AZD) (OTC: AZDDF) - ("Azure" or the "Company"), developer of environmentally friendly and cost effective hybrid electric and electric technologies for commercial vehicle fleets, today announced that it will hold its Annual General Meeting June 8, 2010 at 4:30 p.m. at Azure's corporate headquarters, 14925 W. 11 Mile Road in Oak Park, MI 48237.

The Annual General Meeting will be led by Board Chairman Cam Deacon and Azure CEO Scott T. Harrison. Mr. Harrison will conduct a presentation on the state of Azure's business, financial results for 2009 and the outlook for 2010. Also speaking is John Formisano, retired Vice President of Global Vehicles for FedEx Express who will comment on the hybrid electric market development from the major fleet perspective as well as discussing his specific experience managing Azure products in the FedEx fleet.

Immediately following the meeting, guests will be invited to join Azure management for a reception including an opportunity to experience select Azure products like the Ford Transit Connect Electric and Balance(TM) Hybrid Electric shuttle and van on a ride and drive course.

This year's AGM will also be presented via Web Cast for those who cannot attend in person. For access to the Azure Dynamics AGM Web Cast please follow these two brief steps: dial: 1-800-926-5188 (U.S. Toll-Free Number) or 1-212-231-2900 (U.S. Toll Number) and login at: https://cc.callinfo.com/r/1gj43e2w7c12e.

"In spite of the economic turmoil in the markets and the vehicle industry in 2009, Azure had a strong year and made real progress," said Harrison. "The AGM will give us an opportunity to discuss that progress with our shareholders, plus bring them up to speed on current developments."

For out-of-town guests, Azure Dynamics has a special corporate rate at the Marriott Courtyard Detroit/Southfield [phone].

For more information on how Azure Dynamics products are Driving a World of Difference, please visit www.azuredynamics.com.

About Azure Dynamics

Azure Dynamics Corporation (TSX: AZD)(OTC: AZDDF) is a world leader in the development and production of hybrid electric and electric components and powertrain systems for commercial vehicles. Azure is strategically targeting the commercial delivery vehicle and shuttle bus markets and is currently working internationally with various partners and customers. The Company is committed to providing customers and partners with innovative, cost-efficient, and environmentally-friendly energy management solutions. For more information please visit www.azuredynamics.com.

The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.

Forward-looking Statements

This press release contains forward-looking statements. More particularly, this press release contains statements concerning Azure's business development strategy, projected commercial revenues and product deliveries.

The forward-looking statements are based on certain key expectations and assumptions made by Azure, including expectations and assumptions concerning achievement of current timetables for development programs, target market acceptance of Azure's products, current and new product performance, availability and cost of labour and expertise, and evolving markets for power for transportation vehicles. Although Azure believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Azure can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with Azure's early stage of development, lack of product revenues and history of losses, requirements for additional financing, uncertainty as to commercial viability, uncertainty as to product development and commercialization milestones being met, uncertainty as to the market for Azure's products and unproven acceptance of Azure's technology, competition for capital, product market and personnel, uncertainty as to target markets, dependence upon third parties, changes in environmental laws or policies, uncertainty as to patent and proprietary rights, availability of management and key personnel, and acquisition integration risk. These risks are set out in more detail in Azure's annual information form which can be accessed at www.sedar.com.

The forward-looking statements contained in this press release are made as of the date hereof and Azure undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

For further information: Ryan Carr, Chief Financial Officer, [phone] ext 1206, Email: [email protected]; Pat Liebler, Liebler Group, [phone], Email: [email protected]