Universal Solar Technology Inc. Reports 2009 Revenues Jump 60x 2008

Universal Solar Technology Inc. (UNSS.OB), a developer of solar grade ingot, wafers and high efficiency solar photovoltaic modules, today reported financial results for fiscal year 2009 ending December 31, 2009.

Revenues for 2009 were $691,713 compared to $11,454 in 2008. Net loss for 2009 was $421,562 compared to $346,993 the previous year. Please refer to documents filed today with the Securities and Exchange Commission for additional information on the results for the fourth quarter and full year 2009.

Universal Solar’s Chief Executive Officer Wensheng Chen noted that, “during the past year we have focused on building a new 71,280 square meter subsidiary facility in Nanyang City, Henan Province, raising capital to facilitate the continued development of our production capabilities, and expanding new customers and worldwide markets for our solar energy products.”

Mr. Chen discussed expectations for 2010 and 2011 and stated that, “We expect the new photovoltaic manufacturing capacity to come online in 2010. We hope to reach an annual production capacity of 500 tons of ingots, 30 million wafers, and 50 MW solar modules over the next few years. UNSS will be a highly efficient supplier to a very rapidly growing market for solar products. If we meet our timetable and industry growth remains as forecast, UNSS revenues could grow by millions of dollars in 2010. In addition, we see great potential in the US market, especially after President Obama’s recently announced Homestar Plan to promote energy efficiency in consumers’ homes.”

ABOUT UNSS

Universal Solar Technology manufacturers solar products and provides solar power systems using advanced manufacturing technologies and equipment. Products include solar-grade silicon material (ingots and wafers), solar modules, solar light and solar power systems. Arizona State University Photovoltaic Testing Laboratory has certified that UNSS Photovoltaic Modules satisfy the standards and requirements of the International Engineering Consortium and has passed the standards for selling products to countries in the European Union. Universal Solar Technology has an experienced management team lead by Wenshen Chen who established Yuemao Laser in 1999. All companies owned by Mr. Chen had revenues in 2008 of $73 million. Please see the website, http://www.kustmacau.com/en/

Forward Looking Statements:

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of this document, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this document.

Universal Solar Technology (CE) (USOTC:UNSS)
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