June 4, 2004 [SolarAccess.com] XsunX, a developer focused on producing solar electric vision glass for the Building Integrated Photovoltaic (BIPV) market, entered into a letter of intent with Colorado-based MVSystems. The terms of the proposed agreement provide XsunX with exclusive licensing of MVSystems patent portfolio, and technical know how for use by XsunX in the development, commercialization and licensing of processes for the manufacture of semi-transparent PV glazing technologies. In addition to the opportunities associated with access to MVSystems patent portfolio, the proposal also calls for a cooperative venture in which MVSystems will essentially operate as the research and development arm of XsunX under the guidance of Dr. Arun Madan, MVSystems founder and President. As part of the cooperative venture, Madan will be joining the XsunX executive staff as Chief Technology Officer and a member of the XsunX board. Madan brings to XsunX over 30 years of expertise as an internationally recognized authority in the fields of material and device engineering for the thin film semiconductor industry. MVSystems, a firm Dr. Madan founded over 16 years ago, designs, builds and delivers manufacturing tools specifically designed for the thin film semiconductor market, and are equipped to develop a wide array of thin film technologies.