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Solar Integrated Signs US$20 Million Credit Facility With Affiliate of GE Energy Financial Services; Deepens GE Relationship

Posted on: Tuesday, 3 January 2006, 03:03 CST

NEW YORK, Jan. 3 /PRNewswire-FirstCall/ -- Solar Integrated Technologies, Inc. (AIM: SIT.LN), a leading provider of commercial building integrated photovoltaic roofs, announced today that it has signed a revolving line of credit with an affiliate of GE Energy Financial Services for up to US$20 million. The credit facility is for a term of up to five years, and will be used for working capital and other general corporate purposes. Solar Integrated granted GE Energy Financial Services five-year warrants to purchase up to 2,000,000 shares of common stock of Solar Integrated at a strike price of US$3.392 per share (currently equivalent to 1.9688 pounds Sterling per share), subject to adjustment in certain circumstances.

"This US$20 million credit facility with an affiliate of GE Energy Financial Services, coupled with our recent US$37 million private placement of convertible notes, will support our growth," stated Jon W. Slangerup, Chief Executive Officer of Solar Integrated. "We are very pleased that we are able to deepen our relationship with GE."

In April 2005, Solar Integrated announced that GE Energy Financial Services had invested in an innovative solar roofing project with the San Diego Unified School District. After that initial investment, GE Energy Financial Services has a right of first refusal to finance up to US$500 million of existing and prospective solar roofing projects.

About Solar Integrated

Solar Integrated Technologies, Inc. (AIM: SIT.LN) is a Los Angeles based, leading manufacturer and developer of building integrated photovoltaic (BIPV) systems for commercial roofing and mobile power applications enabling the production of reliable, renewable and economic electrical power. Customers include Coca-Cola Enterprises, Frito-Lay, ProLogis, San Diego Unified School District, Wal-Mart and other municipal and blue chip companies. For more information, visit http://www.solarintegrated.com/.

This release includes forward-looking statements which are based on certain assumptions and reflect management's current expectations as contemplated under the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; the ability to identify, develop and achieve commercial success for new products, services and technologies; changes in technology; changes in laws and regulations, including government incentive programs; intellectual property rights; our ability to secure and maintain strategic relationships, including key supply relationships; the availability and cost of capital; the availability of, and our ability to retain, key personnel; and the failure of the Company to effectively integrate acquisitions. Additional factors are discussed in our public disclosure materials from time to time. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information, please contact: Investor Contacts: Solar Integrated Technologies, Inc. R. Randall MacEwen Executive Vice President, Corporate Development Los Angeles, California, US +1 323 231 0411 Solar Integrated Technologies, Inc. Frederik W. Mowinckel Chief Operating Officer - Europe London, UK +44 20 7661 9704 Media Contacts: Gavin Anderson & Company Ken Cronin or Deborah Walter London, UK +44 20 7554 1400 Solar Integrated Technologies, Inc. Wanda Cutler Los Angeles, California, US +1 213 479 3005

Solar Integrated Technologies, Inc.

CONTACT: Investor - R. Randall MacEwen, Executive Vice President,Corporate Development - US, +1-323-231-0411, or Frederik W. Mowinckel, ChiefOperating Officer - Europe, +44-20-7661-9704, both of Solar IntegratedTechnologies, Inc.; Media - Ken Cronin or Deborah Walter, both of GavinAnderson & Company, +44-20-7554-1400, or Wanda Cutler of Solar IntegratedTechnologies, Inc., +1-213-479-3005

Web site: http://www.solarintegrated.com/

Source: PRNewswire-FirstCall

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