SHANGHAI, China, March 7 /PRNewswire-FirstCall/ -- Perfectenergy International Ltd., (OTC:PFEN) (BULLETIN BOARD: PFEN) , a growing solar energy company, today announced its Board of Directors has authorized an amendment to its charter to effect a 4-for-1 reverse stock split of the issued and outstanding shares of the Company's common stock. The Company also proportionally reduced the authorized number of shares of the Company's common stock by four from 377,000,000 to 94,250,000. Perfectenergy's Board of Directors determined that a share consolidation addresses its goal of increasing the visibility of the Company within the investment community. "We believe the reverse split will help attract a greater level of interest among investors and analysts," said President and Chief Executive Officer Jack Li. "It comes at an excellent time for us as we continue to ramp up production with our new 67,000 square-foot manufacturing center in Shanghai, implement plans to enlarge our market share in Europe and seek to enter the U.S. market." Each four shares of issued and outstanding common stock will be converted automatically into one share of common stock at the effective date which the Company projects will be March 20, 2008. Fractional shares will not be issued in association with this reverse split. Once completed, the reverse split will reduce the number of shares of the Company's common stock outstanding from approximately 118 million to approximately 30 million. Outstanding warrants will also be converted on the same basis as the outstanding common stock. Instructions regarding the exchange of certificates will be sent to stockholders of record on March 20, 2008 following the reverse split by the Company's stock transfer agent, Holladay Stock Transfer, Inc. ABOUT PERFECTENERGY Perfectenergy International Limited designs, manufactures, and markets customized and standard photovoltaic (PV) solar cells, modules and systems for the worldwide solar market. Perfectenergy currently sells its products into Europe and Asia. The Company began producing its solar products in 2005 from its sophisticated 67,000-square foot manufacturing plant in Shanghai, China. SAFE HARBOR STATEMENT This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving known and unknown risks, delays, and uncertainties that may cause the our actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks, delays, and uncertainties include, but are not limited to: risks related with reverse stock splits generally, risks associated with the uncertainty of future financial results, our reliance on our sole supplier, the limited diversification of our product offerings, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements. DATASOURCE: Perfectenergy International Ltd. CONTACT: Ina McGuinness, U.S., +1-310-954-1100, or Dan Joseph, Asia, +86-21-6122-1077, both of ICR Inc., for Perfectenergy International Ltd. Web site: http://www.perfectenergy.com/

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