SOURCE: GiraSolar Inc.

April 16, 2007 14:00 ET

GiraSolar Provides Update

DEVENTER, THE NETHERLANDS -- (MARKET WIRE) -- April 16, 2007 -- GiraSolar Inc. (PINKSHEETS: GRSR) today announced that it expects the filing of its annual report on Form 10K-SB for the year ended December 31, 2006 will be delayed beyond the April 17, 2007 extended filing deadline. On April 2, 2007, the Company filed with the Securities and Exchange Commission a Notification of Late Filing on Form 12b-25.

The Company expects to file its 2006 annual report within 30 days. The delay is due to the consolidation of reports from various subsidiaries.

There have been no material changes to the Company's business or its operations since the filing of its 10-Q on November 11, 2006.

Additionally, the Company has selected a market maker. The market maker has made application for the company to trade on the OTC Bulletin Board once approved by NASD.

This press release contains statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements relating to the filing of the Company's 2006 Form 10-K and the company's application to trade its securities on the OTC Bulletin Board. Forward-looking statements are inherently subject to material risks and uncertainties. Actual results could differ materially from those currently anticipated. Factors that could cause actual results to vary materially from these forward-looking statements.

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