SOURCE: Wall Street News Alert

August 29, 2006 09:42 ET

SOEN Is on the Move: Acclaims Passing of California Million Solar Roofs Bill SB1! August 29, 2006

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Wall Street Capital Funding.

WESTON, FL -- (MARKET WIRE) -- August 29, 2006 -- Wall Street News Alert's "stocks to watch" this morning are: Solar EnerTech Corp. (OTCBB: SOEN), Exelon Corporation (NYSE: EXC), GE (NYSE: GE) and FPL Group, Inc. (NYSE: FPL).

Solar EnerTech Corp. (OTCBB: SOEN) may, once again, be a target of aggressive investors and day traders! Yesterday the company issued a press release announcing that it will celebrate this week with the news that California's Million Solar Roofs bill has finally passed on the Senate Floor and that the solar industry has at last gained bipartisan support for the nation's largest and most comprehensive solar program in the United States.

News of the bill passing the Senate should get the attention of investors! Throughout the past months, after the original Million Solar Roofs bill was defeated by legislature, Solar EnerTech Corp., a California-based company, kept busy building its solar cell production plant in Shanghai, with the firm belief that the bill, or a similar act would someday become law and that the company would become a supplier for the million solar roofs in its home state.

Solar panels will become a mandated standard option for all new homebuyers, thus empowering new home buyers the choice to add solar panels during new home construction. The bill also directs the California Energy Commission to assess and determine if and when solar power should be mandated on new construction as a standard, non-optional feature.

Continue to watch this company! The law also requires that the state's municipal utilities create a solar rebate program, totaling $800 million in rebate funds to drive municipal utility ratepayers toward solar power.

The overall effect of the law, which is scheduled to come into effect January 1, 2007, is simply stated as having created the largest solar program in the nation and is aiming to build 3,000 MW of solar power -- the equivalent of 6 large power plants -- on homes, businesses, farms, and schools throughout the state.

Wall Street News Alert is continuing to place Aggressive Investors on alert to monitor the progress of Solar EnerTech! Solar EnerTech developed its business model and soon-to-be-operational manufacturing facilities in Shanghai founded on the overall growth of the industry with the knowledge that many influential individuals and legislators both in the United States and abroad have shown unyielding commitment to alternative energy sources that have resulted in a number of highly effective programs and initiatives becoming enacted in a relatively short period of time. As a natural result of the increased demands brought about by these new acts, solar cell production supply will become the key for a successful outcome for manufacturers, integrators and consumers alike.

Prior to the latest press release, the stock closed yesterday at $1.39 a share.

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In case you are not familiar with the company: Solar EnerTech is a photovoltaic (PV) solar energy cell manufacturing enterprise based in Shanghai, China where the Company is establishing a sophisticated 42,000 square foot manufacturing and research facility. The company plans to invest in PV cell research to develop higher efficiency cells and put the results of that research to use immediately in its manufacturing processes. Led by one of the industry's top scientists, the Company's R&D program will work to bring Solar EnerTech to the forefront of advanced solar technology research and production. The Company has also established a marketing, purchasing and distribution arm in Northern California's Silicon Valley.

Exelon Corporation's (NYSE: EXC) up 1.4% on 7.8 million shares traded. Exelon Corporation is one of the nation's largest electric utilities.

GE (NYSE: GE) up 0.2% on 13.3 million shares traded. GE is a diversified technology, media and financial services company focused on solving some of the world's toughest problems.

FPL Group, Inc. (NYSE: FPL) up 0.3% on 2.3 million shares traded. Florida Power & Light Company is the principal subsidiary of FPL Group, Inc. nationally known as a high quality, efficient and customer-driven organization focused on energy-related products and services.

Market Commentary:

"This week look for the Personal Consumption Expenditure index numbers to come out on Thursday. The PCE is watched by the Federal Reserve as an inflation indicator. For June the index was up by 0.2% and the same is expected by economists for July," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at:

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