Phoebus Energy's Hybrid Water Heating System(TM) Drastically Reduces Costs for Fossil Fuel Powered Hotels

The Hagoshrim and Inbal Hotels are Reaping the Significant Economic and Environmental Benefits of the Hybrid Heating System

TEL AVIV, Israel, June 8, 2010 - Phoebus Energy (www.phoebus-energy.com ), developer of the Hybrid
Water Heating System, launches its expansion into the hotel industry with
successful installations at Hagoshrim and Inbal Hotels in Israel.

Hotels and resorts consume large amounts of fossil fuel to heat water for
showers, space heating and swimming pools. Fossil fuel costs represent a
significant percentage of the total energy expenses at hotels and are
extremely volatile.

The Hybrid Water Heating System packages modern heat pump technology with
intelligent web-based monitoring and control software. The Phoebus Energy
solution reduces fossil fuel consumption and carbon emissions while
significantly reducing energy costs at hotel facilities.

According to Eytan Rachimi, CEO Hagoshrim Hotel. "The Phoebus Energy
Hybrid Water Heating Solution delivers bottom-line cost savings and maximized
energy efficiency while ensuring a continuous supply of hot water to the
guests at Hagoshrim. In addition, we have online access to detailed reports
to actually see the energy we are using and saving."

The Hagoshrim Hotel and Resort is a 164-room facility in Kiryat Shemona.
Since implementing the Hybrid Water Heating System, the site is saving 65% of
its hot water heating expenses. The Inbal Hotel, a 283-room facility in
Jerusalem, has a Hybrid System in commissioning. Test savings are showing a
72% monthly reduction in hot water heating expenses.

According to Mr. Yaron Tal, President and CEO of Phoebus Energy "The
unique hybrid solution has been developed to address the real needs of the
hotel industry - cost savings, Green Energy, no operational risks, and most
importantly, a system that is able to make the most cost effective energy
decision today, as well as when the economics change in the future."

The Phoebus Hybrid Water Heating System is installed at 15 commercial
sites around Israel, all with similar savings to Hotels.

About Phoebus Energy.

Phoebus Energy Ltd. develops, markets and implements a Hybrid Water
Heating System that addresses the growing need for energy efficiency, cost
savings and reduction of carbon emissions for commercial sites. The company
offers flexible business models including capital sale, risk-free shared
savings and a combination model.

Phoebus Energy is committed to developing and implementing
environmentally-friendly solutions based on intelligent algorithms to
increase energy efficiency and reduce pollution. Established in September
2007, Phoebus Energy is funded by Terra Venture Partners (
www.terravp.com), a leading Israeli Venture Capital Fund focused on
Cleantech, Galilaea Group, a strategic consulting firm with offices in Italy
and Israel and Chesapeake Advisory Group, LLC.

    Contact:

    Sharon Ben Or
    Regional VP Sales & Marketing
    YSharon@phoebus-energy.com
    Telephone: +972-54-551-1513

Contact: Sharon Ben Or, Regional VP Sales & Marketing, YSharon at phoebus-energy.com, Telephone: +972-54-551-1513