19 March 2004
Xantrex Technology Inc. Closes $67 Million Initial Public Offering

VANCOUVER, March 19 /CNW/ - Xantrex Technology Inc. ("Xantrex") announced today that its initial public offering of 3,725,000 common shares at a price of $18.00 per share has closed.

Xantrex and certain shareholders of Xantrex have granted to the underwriters an option
to purchase up to an additional 558,750 Common shares on the same terms as set out above to cover over-allotments, if any, and for market stabilization purposes. The over-allotment option is exercisable within 30 days after closing of the initial public offering.

RBC Capital Markets is the lead manager and book runner for the offering. CIBC World Markets Inc. and UBS Securities Canada Inc. are the co-lead managers of the underwriting syndicate. The other members of the syndicate are GMP Securities Ltd., National Bank Financial Inc., and Raymond James Ltd.

"Xantrex and its employees are excited about embarking on the next phase of our growth," said Xantrex's Chairman, Mossadiq Umedaly. "The proceeds of this offering will be used to implement our growth strategies."

Xantrex has received conditional approval for the listing of its Common shares on the Toronto Stock Exchange under the symbol "XTX", subject to Xantrex fulfilling all of the requirements of the Toronto Stock Exchange by June 3, 2004.

Xantrex Technology Inc.
Xantrex is a world leader in the development, manufacturing and marketing of advanced power electronic products and systems for the distributed, mobile and programmable power markets. The Company's products convert raw electrical power from any central, distributed, or backup power source into high-quality power required by electronic and electrical equipment.

Xantrex is headquartered in Vancouver, British Columbia and has facilities in Arlington, Washington; Livermore, California; Miami, Florida; Elkhart, Indiana; and Barcelona, Spain. Additional information about Xantrex is available at www.xantrex.com.

For further information, contact

Scott MacFarlane
Media Relations
Xantrex Technology Inc.
T: 604.422.2759
Email: mediarelations@xantrex.com