IPWG International Power Group Ltd (CE)

EXPLANATORY NOTE

This amendment is being filed to:

(1)

include Mr. Varbero’s current employment ( since September 2008 ) as a Branch Manager at Blue Trading, Inc., which information was inadvertently omitted in the original filing; and

(2)

correctly indicate that Mr. Varbero ( in addition to being granted stock options in connection with his appointment as a director ), was also issued 2,000,000 shares of the Registrant’s common stock. The original filing incorrectly stated that he received 2,096,149 shares as a finder’s fee.

Item 5.02 - DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS;

APPOINTMENT OF PRINCIPAL OFFICERS.

Effective October 1, 2008, the Board of Directors of International Power Group, Ltd., a Delaware Corporation ("IPWG"), appointed Mr. Anthony C. Varbero as a member of its Board of Directors.

Mr. Varbero, age 37, has more that 10 years of experience in the financial markets and investment industries.

Since September 2008, Mr. Varbero has been employed as a Branch Manager at Blue Trading, Inc.  Prior to that, from September 2007, he was a Branch Manager with Aegis Capital Corporation.  Prior to that, from 2002, he was associated in various capacities with the investment firm of Joseph Stevens & Co., Inc., including holding the positions of sales manager (2002 to 2004) and branch manager (2005 to 2007).  He was also a shareholder and registered options principal of that firm.

Mr. Varbero holds various the brokerage and insurance licenses including the Series 4, 7, 8, 24, 27, 53, 55, 63, and 65 licenses. He is also a candidate for the Chartered Financial Analyst Program, Part I. He has a B.S. degree from St. John’s University and an M.B.A. from Fordham University.

There are no family relationships between Mr. Varbero and any other executive officers or directors of IPWG. In connection with his appointment as a Director, Mr. Varbero was granted an option to purchase 1,000,000 shares of IPWG’s common stock at $0.041 per share; such option shall expire on 2010 and was further issued 2,000,000 shares of common stock.  Other than the aforementioned granted option and issuance of shares, there have been no transactions during IPWG’s last two fiscal years, or any currently proposed transaction or series of similar transactions, to which IPWG was or is to be a party, in which the amount involved exceeds $60,000, and in which Mr. Varbero had or will have a direct or direct material interest.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

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International Power (CE) (USOTC:IPWG)
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