GiraSolar Group Signs New Cell Delivery Contract

Deventer, The Netherlands [] GiraSolar Inc.’s subsidiary DutchSolar BV has signed a multi-MWp cells supply contract with a German solar industry partner. DutchSolar BV expects direct revenues generated by this contract to exceed $9.5 million over a period of 12 months. First deliveries will start in June 2006. For FY 05/06, ending September 2006, revenue contribution is estimated at approximately $2.5 million. The remainder of the contract will contribute to FY 06/07. DutchSolar is a 100% owned subsidiary of GiraSolar BV of the Netherlands; GiraSolar BV is 51% owned by USA-based GiraSolar Inc.

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