XsunX Expands Efforts to Secure Oregon Financial Incentives and Supply Statewide Burgeoning Renewable Energy Initiatives

    ALISO VIEJO, Calif., July 16 /EMWNews-FirstCall/ -- XsunX, Inc. (OTC

Bulletin Board: XSNX), a solar technology Company engaged in the build- out

of its multi-megawatt thin film photovoltaic (TFPV) solar manufacturing

facilities, announced today that efforts in the state of Oregon to

establish its manufacturing facilities, qualify for state sponsored

investment tax credits, low interest financing opportunities, and work

towards establishing a presence as a qualified supplier to the states

burgeoning renewable energy initiatives is gaining momentum.



    The Company took possession of its leased TFPV manufacturing facilities

two weeks ahead of schedule. With its corporate presence now firmly

established in Oregon XsunX also recently submitted its first petition

seeking certification for Oregon State Business Energy Tax Credits (BETC).

With the BETC application XsunX is seeking up to approximately $20 million

in tax credits for investments made by the Company in its TFPV solar module

manufacturing systems. The state has established a program whereby BETC tax

credits, if secured, can be marketed or resold at slightly more than half

their face value to qualified companies in Oregon. The application for the

BETC program also serves as a pre-certification in the Company's efforts to

secure long term low interest loans from the state of Oregon for use in the

build out and expansion of the first and subsequent phases of its planned

100MW of TFPV manufacturing infrastructure.



    "Finalizing our lease and the presence of our new TFPV manufacturing

facilities provides us with a milestone we've been planning for since last

fall," stated Tom Djokovich, XsunX's CEO. "This milestone allows us to now

work towards securing a number of the great incentives offered by Oregon

and its progressive efforts to attract and establish a strong renewable

industry. We've now submitted our applications for two of the larger

incentive packages potentially worth many millions to us, and we've also

begun bidding to supply a significant amount of renewable energy projects

around the state. While the confidence in many of the financial aspects of

the U.S. economy may be in flux one thing we're confident in at XsunX is

that the need for alternate and diverse sources of energy is at an all time

high. We are continuing to stay focused on the big picture and the long

term value we see in the solar sector, and XsunX, is working to reduce

dependence on carbon based fuels," concluded Djokovich.



    For more information about XsunX, please visit http://www.XsunX.com



    Safe Harbor Statement: Matters discussed in this press release contain

forward-looking statements within the meaning of the Private Securities

Litigation Reform Act of 1995. When used in this press release, the words

"anticipate," "believe," "estimate," "may," "intend," "expect" and similar

expressions identify such forward-looking statements. Actual results,

performance or achievements could differ materially from those

contemplated, expressed or implied by the forward-looking statements

contained herein. These forward-looking statements are based largely on the

expectations of the Company and are subject to a number of risks and

uncertainties. These include, but are not limited to, risks and

uncertainties associated with: the impact of economic, competitive and

other factors affecting the Company and its operations, markets, product,

and distributor performance, the impact on the national and local economies

resulting from terrorist actions, and U.S. actions subsequently; and other

factors detailed in reports filed by the Company.