SOURCE: Barnabus Energy, Inc.

August 08, 2005 09:00 ET

Barnabus Energy Inks Solar Energy Agreement

CARLSBAD, CA, -- (MARKET WIRE) -- August 8, 2005 -- Barnabus Energy, Inc. (OTC BB: BBSE) is pleased to announce it has signed a Memorandum of Understanding (MOU) to acquire 20% of Solar Roofing Systems, Inc. (SRS) with right of first refusal to further acquire a majority interest in the Company.

The renewable energy sector is currently undergoing explosive growth as many industry heavy-hitters such as BP, Shell, Chevron and GE are making strategic investments in wind, solar and hydrogen technologies. It is corporate leadership of this kind that motivates Barnabus Energy to forge ahead with a mixed portfolio of energy projects that can take advantage of current global market realities.

The investment in SRS brings with it access to exciting new technologies that include SolarSave™ a high efficiency, waterproof roofing system that is lightweight and easy to install. SolarSave™ generates significantly more power per square foot of roof space than either traditional solar panels or thin-film photovoltaic technologies. The SRS management team includes some of the top names in the photovoltaic and roofing industry including executives with significant corporate, military and aerospace backgrounds.

Mr. David Saltman, a director of Barnabus and recently appointed head of the Company's Advisory Committee said, "Today's announcement is one that excites us all here at Barnabus Energy. We look forward to working closely with our new partners as they develop and manufacture innovative solar electric systems for the residential, commercial and industrial markets. We are confident SRS will make significant contributions toward a sustainable future, and to our shareholders."

Mr. Norman Dodd, Chairman and CEO of Solar Roofing Systems Inc. said, "We are delighted to be associated with Barnabus Energy. We will use the proceeds of their investment to scale up our manufacturing capacity and penetrate both North American and International markets ahead of schedule."

ABOUT SOLAR ROOFING SYSTEMS, INC.

Solar Roofing Systems Inc. (SRS) is a manufacturing company dedicated to developing environmentally friendly energy products that utilize photovoltaic's (solar power) to produce electricity. SRS employs some of the brightest minds in the photovoltaic and roofing industry and has quickly built a reputation for developing leading edge, technologically superior products. SRS has offices in Aurora, Ontario; Tempe, AZ, and Los Angeles, CA.

ABOUT BARNABUS ENERGY, INC.

Barnabus Energy, Inc. (BBSE) is committed to the development of a diversified energy project portfolio. The Company is currently developing oil and natural gas projects in Western Canada, as well as acquiring commercially viable projects in the renewable energy sector. Management has closely aligned itself with key strategic partnerships that will move the Company forward towards future acquisitions and growth. The company's model is a focused approach to the exploitation of targeted, low risk development opportunities.

Safe Harbor for Forward-Looking Statements:

Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Barnabus Energy, Inc. has little or no control.

ON BEHALF OF THE BOARD

Barnabus Energy, Inc.

Kerry Nagy, President

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