TORONTO, ONTARIO -- (MARKET WIRE) -- 09/15/10 -- MagIndustries Corp. ("MagIndustries" or the "Company")(TSX: MAA) is pleased to announce receipt of the first payment from an Accord Transactionnel dated August 17, 2010 (the "Accord") between its wholly-owned subsidiary MagEnergy Inc. ("MagEnergy") and Societe Nationale d'Electricite ("SNEL"), the electric utility of the Democratic Republic of Congo, compensating the Company for the expenses incurred towards the refurbishment of SNEL's INGA II hydroelectric facility, principally the recently re-commissioned turbine G23.

The Accord provides for 60 monthly payments, resulting in a net benefit to the Company of approximately US$400,000 per month. The Accord marks the end of a protracted dispute between SNEL and MagEnergy. With this settlement, MagIndustries is reviewing its strategic alternatives for the MagEnergy division.

About MagIndustries Corp.

MagIndustries is a Canadian company whose common shares are listed on the TSX and trades in Canadian currency under the symbol "MAA". The Company has 418,362,462 shares outstanding on an undiluted basis. MagIndustries is focused on the development of its potash assets in the Republic of Congo. More information on the Company is available on its website, www.magindustries.com.