FORM 6-K

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  20549


                        REPORT OF FOREIGN PRIVATE ISSUER
                        PURSUANT TO RULE 13A-16 OR 15D-16
                                     OF THE
                         SECURITIES EXCHANGE ACT OF 1934


For  the  month  of  November,  2002


                            ENERGY POWER SYSTEMS LIMITED
                  (FORMERLY: ENGINEERING POWER SYSTEMS LIMITED)
                  ---------------------------------------------
                    (Address of Principal executive offices)


          Suite 301, 2 Adelaide Street West, Toronto, Ontario, M5H 1L6
          ------------------------------------------------------------
                    (Address of principal executive offices)


Indicate  by check mark whether the registrant files or will file annual reports
under  cover  form  20-F  or  Form  40-F:

     Form  20-F    X          Form  40-F
               -----


Indicate  by  check  mark  whether  the registrant by furnishing the information
contained  in  this  Form  is  also  thereby  furnishing  the information to the
Commission  pursuant  to Rule 12g3-2b under the Securities Exchange Act of 1934:

               Yes                     No     X
                                          -----

If  "Yes"  is  marked, indicate below the file number assigned to the registrant
in  connection  with  Rule  12g3-  2(b):  82

                                   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,  thereunto  duly  authorized.

     ENERGY  POWER  SYSTEMS  LIMITED
                              (formerly:  Engineering  Power  Systems  Limited)


Date:  November  29,  2002               By:____"Sandra  J.  Hall"____  ______
     ---------------------                  ----------------------------------
     Sandra  J.  Hall,  President,  Secretary  &  Director





Energy  Power  Systems  Limited

                                  NEWS RELEASE
                                  ------------

Toronto,  Canada - November 29, 2002 - ENERGY POWER SYSTEMS LIMITED (AMEX: EGY &
Frankfurt  Stock Exchange: EPW) (www.epsx.com) ("Energy Power" or the "Company")
announces  that  at its Annual and Special Meeting of Shareholders to be held on
December  30, 2002 the Company will seek shareholder approval for the following:

1)     to  consolidated the currently issued common shares of the Company on the
basis  of  up  to  one  new  common  share for each three existing issued common
shares,  subject  to  any  regulatory  requirements;
2)     to  change  the  name of the Company to Energy Power Corp., or such other
name  as  approved  by  the  board  of  directors of the Company, subject to any
regulatory  requirements;
3)     to  amend  the Company's Stock Option Plan (the "Plan") by increasing the
number  of options reserved for issuance under the Plan to 20% of the issued and
outstanding  common  shares,  subject  to  any  regulatory  requirements;
4)     to  authorize  the  issuance  by  the  Company  of  up  to  10,578,615
pre-consolidated  common  shares  by  way  of private placements or acquisitions
during the twelve month period following shareholders' approval , subject to any
regulatory  requirements.

About  Energy  Power  Systems  Limited
--------------------------------------

Energy  Power is an energy source and service company operating as an Industrial
&  Offshore  Division  and  an  Oil  &  Gas  Division.

                                     - 30 -

For  further  information  contact:     Sandra  Hall
                         President  and  Secretary
                    Telephone:  (416)  861-1484



There  are  approximately  10.6  million  shares  issued  and outstanding in the
capital  of  the  Company.


Certain  statements  contained  herein  constitute  "forward-looking statements"
within  the meaning of the Private Securities Litigation Reform Act of 1995 (the
"Reform  Act"),  which  reflect the Company's current expectations regarding the
future  results of operations, performance and achievements of the Company.  The
Company  has  tried,  wherever  possible,  to  identify  these  forward-looking
statements  by, among other things, using words such as "anticipate," "believe,"
"estimate,"  "expect"  and  similar  expressions.  These  statements reflect the
current beliefs of management of the Company, and are based on current available
information.  Accordingly,  these  statements  are  subject to known and unknown
risks,  uncertainties  and  other  factors which could cause the actual results,
performance  or  achievements  of  the  Company  to differ materially from those
expressed  in,  or  implied  by,  these  statements.  (See  the Company's Annual
Information  Form  and  Annual  Form 20 F for Risk Factors.)  The Company is not
obligated  to update or revise these "forward-looking" statements to reflect new
events  or  circumstances.




   Suite 301, 2 Adelaide Street West, Toronto, Ontario, M5H 1L6, Telephone: 416
                 861-1484, Facsimile: 416 861-9623 www.epsx.com