Solar Thin Films, Inc. Enters Into Marketing Agreement With CG Solar of China

SOURCE:

Solar Thin Films, Inc.

2008-03-28 12:45:00

Solar Thin Films, Inc. Enters Into Marketing Agreement With CG Solar of China

DIX HILLS, NY–( EMWNews – March 28, 2008) – Solar Thin Films, Inc. (OTCBB: SLTN) today

announced that it has signed a three-year marketing agreement with CG

Solar. Under the terms of the agreement, Solar Thin Films will initially

have non-exclusive rights to distribute CG Solar’s photovoltaic products

within North America and Europe. Solar Thin Films will receive exclusive

rights to distribute CG Solar’s photovoltaic products within North America,

for the duration of the marketing agreement, upon the aggregate sale of 3

MWs of CG Solar’s product within North America and Europe.

The agreement covers CG Solar’s existing product, as well as the as of yet

unreleased transparent product for Building Integrated Photovoltaics

(“BIPV”) applications. Solar Thin Films will work in conjunction with CG

Solar to obtain required approvals for CG Solar’s photovoltaic modules in

the United States and Canada. The agreement provides Solar Thin Films with

a discounted price that will be further discounted upon the achievement of

certain sales milestones.

Solar Thin Films CEO Peter Lewis stated, “We are delighted to be associated

with CG Solar and China Glass. CG Solar provides us with high quality

dependable products. We are excited to represent CG Solar’s innovative

transparent technology as it will be an ideal resource for BIPV

applications.”

About CG Solar

CG Solar is located in China, and is a subsidiary of China Glass Holdings

Co., Ltd. (“China Glass”). China Glass, together with its a subsidiaries,

is one of the ten largest companies engaged in glass processing and

production in China, as well as one of the leading building material

manufacturers in China.

About Solar Thin Films

Solar Thin Films (www.solarthinfilms.com) develops, manufactures and

markets a complete line of manufacturing equipment for the production of

“thin-film” amorphous silicon and CIGS photovoltaic (“PV”) modules,

together with a wholly owned subsidiary based in Budapest, Hungary.

Personnel associated with the company have been responsible for the setup

of 14 thin-film photovoltaic factories worldwide. The Company sells

equipment and turnkey systems to customers including EPV Solar (Hamilton,

NJ, USA) and Blue Star Terra (Weihai, China). Management believes that its

line of cost-effective thin-film photovoltaic manufacturing equipment

positions the Company to take advantage of the rapidly growing demand for

solar modules and an expected market shift towards “thin film” PV modules

as part of a cost effective, “clean technology” energy solution.

Forward-Looking Safe Harbor Statement

Statements in this news release regarding future financial and operating

results, potential applications of the Company’s technology, opportunities

for the Company, and any other statements about the future expectations,

beliefs, goals, plans, or prospects expressed constitute forward-looking

statements within the meaning of the Private Securities Litigation Reform

Act of 1995. Any statements that are not statements of historical fact

(including statements containing the words “will,” “believes,” “plans,”

“anticipates,” “expects,” “estimates,” and similar expressions) should also

be considered to be forward-looking statements. There are a number of

important factors that could cause actual results or events to differ

materially from those indicated by such forward-looking statements

including: limited operating history, need for future capital, and economic

conditions generally. Additional information on potential factors that

could affect results and other risks and uncertainties are detailed from

time to time in the Company’s periodic reports, including Forms 10-KSB,

10-QSB, 8-K, and other forms filed with the Securities and Exchange

Commission (“SEC”).

These statements, and other forward-looking statements, are not guarantees

of future performance and involve risks and uncertainties.

For Solar Thin Films, Inc.
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