HF Capital Corp - HF Capital Subsidiary to Merge with Microplanet

HF CAPITAL CORP - Signing of Formal Agreements

February 3, 2005

Market News Publishing

HF Capital Corp. ("HF Capital") and MicroPlanet, Inc. ("MicroPlanet") announced they have signed the formal pre-acquisition agreement and plan of merger related to the previously announced business combination of the two companies (the "Merger Agreement"). Pursuant to the Merger Agreement, MicroPlanet will merge with a US wholly- owned subsidiary of HF Capital and the current security holders of MicroPlanet will receive common shares of HF Capital or securities exchangeable into common shares of HF Capital. It is expected that, at closing, the holders of common shares and convertible notes of MicroPlanet will receive an aggregate of 8,429,458 common shares of HF Capital or securities convertible into common shares of HF Capital at an ascribed price of US$1.00 per share. The holders of warrants of MicroPlanet will be offered 1,522,914 warrants of HF Capital which are each exercisable into one common share of HF Capital at a price of US$1.00 at any time until December 31, 2006.

The holders of stock options of MicroPlanet will, following closing, retain the right to exercise their options to acquire up to 1,870,000 common shares of HF Capital at various prices up to US$1.10 per share. Upon completion of the transaction, it is expected that HF Capital will change its name to MicroPlanet Technology Corp. and remain listed on the TSX Venture Exchange. MicroPlanet Ltd. will remain a Seattle, Washington based operating subsidiary. The completion of the transaction is subject to completion of an equity financing, receipt of all regulatory and third party approvals and other customary closing conditions. The transaction is expected to close on or before March 31, 2005.

President and CEO of HF Capital, Brett Ironside and President and CEO of MicroPlanet, Brian Reidy stated "We are both pleased to have completed this important step in the transaction and remain excited and enthusiastic about the tremendous business opportunity to work together to further commercialize the proprietary voltage regulation products developed by MicroPlanet."

About MicroPlanet Ltd.

Based in Seattle, Washington, MicroPlanet manufactures and sells products for electrical energy conservation and voltage compliance. MicroPlanet's Low Voltage Regulator (LVR(TM)) and High Voltage Regulator(TM) (HVR(TM)) regulate the voltage delivered to a business or home, reducing the amount of electricity needed. The products also provide electric utilities a new tool for peak load reduction, conservation, low voltage mitigation and an interface for distributed generation. In 2005, MicroPlanet plans to introduce its new Enterprise Voltage Regulator(TM)s (EVR(TM) and EVR 3P(TM)), which will be sold directly to large corporations for reducing electricity costs.

About HF Capital Corp.

Based in Calgary, Alberta, HF Capital is a Capital Pool Company listed on the TSX Venture Exchange under the symbol "HFC.P". The proposed transaction with MicroPlanet is intended to constitute the qualifying transaction for HF Capital for the purposes of Policy 2.4 of the TSX Venture Exchange.

Completion of the transaction is subject to a number of conditions, including but not limited to, TSX Venture Exchange acceptance and, if applicable pursuant to Exchange requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurances that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative. The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

This press release is not an offer of securities for sale in the United States. The securities to be offered will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or applicable state securities laws, and may not be offered or sold in the United States absent registration under the Securities Act and applicable state securities laws or available exemptions from United States federal and state registration and qualification requirements.

Capitalization Report for Hf Capital Corp Shares Issued: 8333333 Shares Escrow: 3333333

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Toronto:(416)366-8881 Vancouver:(604)689-1101 Fax:(604)689-1106

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TEL: (403) 272-3114 ext. 371 HF Capital Corp. Brett Ironside, President TEL: (403) 294-1042 Myron Tetreault, Director, TEL: (206) 625-0851 MicroPlanet Ltd. D. Brian Reidy, CEO E-mail: TEL: (206) 239-0140 Alison Athay, APCO Worldwide E-mail: Internet: