OPEL International Inc.

OPEL International Inc.

May 04, 2007 08:00 ET

Delay in Filing OPEL Annual Financial Statements

TORONTO, ONTARIO--(CCNMatthews - May 4, 2007) - OPEL International Inc. ("OPEL" or the "Company") reports that it has been delayed in filing its annual financial statements and its annual management discussion & analysis related thereto for the year ended December 31, 2006 by the required filing date under applicable Canadian securities laws, namely April 30, 2007. The delay is attributable to a combination of reasons arising from the completion of a reverse take-over by OPEL Inc., a private corporation (the "Subsidiary"), in September 2006, which are as follows: (i) the shift in the nature of the Company's business from being a mineral exploration company to a technology development company; (ii) the implementation of internal controls aimed at bringing the Subsidiary to the Company's level of reporting requirements; and (iii) appropriate presentation and accounting for the reverse take-over.

OPEL is working with its auditors to complete the audit of the Company's financial statements as soon as possible. The Company anticipates that it will be in a position to file its annual financial statements and related annual filings by May 7, 2007. The Company intends to satisfy the requirements of the "alternate information guidelines" described in CSA Staff Notice 57-603 (the "Policy"), including issuing default status reports every two weeks if there are further delays.

As a result of this delay, the Company will be asking the Ontario Securities Commission, the British Columbia Securities Commission, the Alberta Securities Commission and the Autorite des Marches Financiers to put in place a management cease trade order (the "MCTO") covering all persons who are directors, officers or insiders of the Company or who have been directors, officers or insiders of the Company during the period that the financial statements are being prepared. Pursuant to the Policy, if the Company's annual financial statements and related annual filings are not filed by June 30, 2007, one or all of the Ontario Securities Commission, the British Columbia Securities Commission, the Alberta Securities Commission or the Autorite des Marches Financiers may impose an issuer cease trade order against the Company. The Company does not believe that it will be affected by this aspect of the Policy because it anticipates that it will be in a position to file its annual financial statements and related annual filings long before June 30, 2007. The MCTO will remain in place until two full business days following receipt by the commissions of all filings that the Company is required to make pursuant to applicable Canadian securities laws.

About OPEL

OPEL designs, manufactures and markets high performance concentrating photovoltaic products to transform solar energy into electricity for worldwide application. OPEL's high performance photovoltaic concentrating products generate up to 40% more kilowatt-hours than conventional fixed solar panels, resulting in more cost effective electricity generated from the sun. OPEL International also operates on premise generating facilities that provide customers with solar generated electricity at competitive prices without the need of capital investments. OPEL also designs infrared sensor type products. For more information on OPEL please visit the OPEL website at www.opelinc.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Michel Lafrance, Secretary

No regulatory bodies accept responsibility for the adequacy or accuracy of this news release.

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