Solar Integrated Provides Results Guidance

London, UK, and Los Angeles, California, March 22, 2007 – Solar Integrated Technologies, Inc. (“Solar Integrated” or “the Company”), a leading provider of building integrated photovoltaic (BIPV) roofing systems, announced today that it will publish its 2006 financial results on May 8th, 2007.  Consistent with previous guidance, the Company expects full year 2006 revenue to be approximately $38 million, based on the completion of approximately 50 projects representing 4.2 megawatts of installed solar power generating capacity.  As announced in December 2006, the Company plans to record non-recurring charges in its 2006 financial results relating to the impairment of its $3.2 million receivable from SCR Group, Inc., costs related to the aborted U.S. public listing, and other restructuring charges associated with its overhead cost reduction program.  The Company expects to incur a significant non-cash charge in 2006 in connection with the expensing of warrants and options.  The Company will report negative EBITDA and a net loss for 2006.

The Company also announced today that it expects revenue for 2007 to be in the range of $60 million to $80 million.  The Company also expects to achieve 2007 full year consolidated gross margins in excess of 15%, a significant improvement over 2006.

“With the completion of our equity capital raise in December 2006, a growing order book of profitable business, and disciplined management of our overhead costs and working capital, we are well positioned to improve our financial performance in 2007,” stated R. Randall MacEwen, President & CEO of Solar Integrated.  “We will also continue to focus our organisation and partners on product cost reduction to support our long term strategic goal of achieving cost-parity with retail electric rates.”

Solar Integrated also announced today that it has now supplied more than 10 MW of solar systems since its inception in 2002.  “Our 10 MW celebration is a landmark achievement – we now have over 110 reference sites with an impressive list of customers,” commented Mr. MacEwen.  “We have a dedicated team of professionals that are committed to delivering value to our customers with a building-integrated, ‘no compromise’ approach to their solar roofing requirements.”

 

About Solar Integrated:
Solar Integrated Technologies, Inc. (SIT: AIM.LN) is a Los Angeles-based company that manufactures, designs and installs building integrated photovoltaic (BIPV) roofing systems for non-residential, low-slope rooftops.  We are a leader in the development of an innovative and proprietary BIPV roofing system that combines flexible thin-film solar modules with a single-ply roofing membrane for large-scale commercial and industrial applications.  Our BIPV roofing system enables our customers to transform a traditional rooftop into a value-generating asset.  Our customers include Coca-Cola Enterprises, Frito-Lay, Honeywell, ProLogis, San Diego Unified School District, Tesco, Toyota, U.S. Air Force, U.S. GSA, U.S. Navy, Wal-Mart and Westfield.  For more information, please visit www.solarintegrated.com.

Forward-Looking Statement:

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:  the availability and cost of capital; uncertainty as to whether our strategies, partnerships and business plans will yield the expected benefits; general global economic conditions; general industry and market conditions and growth rates; 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; and the availability of, and our

 


For more information, please contact:
Investor Contacts:
Solar Integrated Technologies, Inc.                            Solar Integrated Technologies, Inc.
R. Randall MacEwen                                                  John M. Palumbo
President & Chief Executive Officer                            Chief Financial Officer
Los Angeles, California, USA                                      Los Angeles, California, USA
+1.562.299.0136                                                         +1.562.299.0121

Media Contacts:
Gavin Anderson & Company                                     
Ken Cronin or Deborah Walter                                              
London, UK                                                                
+44.20.7554.1400