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OPEL International Secures Solar Cell Supply With Boeing-Spectrolab

Posted on: Wednesday, 26 March 2008, 09:00 CDT

SHELTON, CT and TORONTO, March 26 /PRNewswire-FirstCall/ -- OPEL International Inc. (TSX-V:OPL) ("OPEL" or "the Company"), a manufacturer of state-of-the-art high concentration photovoltaic (HCPV) solar products, announced today that it has signed a five-year solar cell supply contract with Spectrolab, Inc., a Boeing Company.

Under the terms of the contract, OPEL will be placing individual incremental orders for solar cells every calendar year. To cover its initial HCPV production requirements, OPEL has placed an initial firm purchase order for 10 MW of high efficiency triple junction solar cells for delivery in 2008. Spectrolab has already started shipping product to OPEL to fulfill this order.

"This contract represents both a great opportunity and a minimization of risk for OPEL," said Robert Pico, Chief Executive Officer of OPEL International. "With secure access to an adequate supply of Boeing-Spectrolab's superior solar cells, we have the necessary raw material to ensure we can deliver HCPV panels to customers for the foreseeable future."

Used in conjunction with OPEL's concentrating PV technology, Spectrolab's triple junction cells are each capable of producing 15-17 watts, representing 37% efficiency, a rating significantly higher than that achieved with conventional silicon cells.

"We are very excited to enter into this contract with OPEL," said Dr. Raed Sherif, General Manager, Terrestrial Photovoltaic Products for Spectrolab. "We realize the significant cost benefit that our high efficiency solar cells provide to our customers and we look forward to supplying OPEL and its customers with even better efficiency ratings, reaching 40% in 2010."

About OPEL International ------------------------

With operations headquartered in Shelton, CT, OPEL designs, manufactures and markets innovative, state-of-the-art solar technology products designed to convert solar energy into electricity - at the least possible cost and greatest efficiency. The Company's products are based on technology developed in cooperation with the University of Connecticut (Storrs, CT) and the Canadian National Research Centre (Ottawa, ON). A leader in gallium arsenide and solar photovoltaic technology, the Company has been awarded 23 patents and has 23 more patents pending. OPEL's common shares trade on the TSX Venture Exchange under the symbol "OPL". For more information about OPEL, please visit the Company's website at http://www.opelinc.com/.

The TSXV has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Investors are cautioned that except for statements of historical facts, certain statements contained in this news release may include forward-looking information with respect to the Company. Such forward-looking statements or information are based on current expectations, estimates and projections formulated using assumptions currently believed to be reasonable and involving a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. The Company does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The Company's securities have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities laws and may not be offered or sold within the United States or to any U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

OPEL International Inc.

CONTACT: Michael McCoy, Chief Financial Officer, Tel: (203) 612-2366 Ext2229, Email: m.mccoy@opelinc.com; Philip Koven, Investor Relations, Tel: (416)447-4740 Ext 235, Email: invest@opelinc.com

Source: PRNewswire-FirstCall

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