SOURCE: Legend Investment Corporation

March 28, 2006 11:52 ET

GiraSolar Receives Sales Contract for $9 Million

DEVENTER, THE NETHERLANDS -- (MARKET WIRE) -- March 28, 2006 -- GiraSolar BV (OTC: LVCP) today announced that is has received a sales contract and partial payment for approximately $9 million worth of solar modules.

Through its wholly owned subsidiary, Dutch Solar, the company has confirmed an order for 2MW of modules.

The modules will be supplied to the customer from Q2/06 into Q4/06. The solar modules are part of a large grid-connected solar energy system which will generate returns from high feed-in tariffs for solar electricity. The system is located in Spain.

"Our order portfolio is constantly growing, induced by marketing efforts in the EU and the USA. Through our resourceful approach, good industry partnerships, transparent relationships, and now also aided by our public status combined with a sizeable market cap, we expect further significant agreements under negotiation to come through expediently," said CEO Koornstra.

This press release contains forward-looking statements within the meaning of federal securities laws. The Company cautions you that any statements contained in this press release which are not strictly historical statements constitute forward-looking statements. Such forward-looking statements include, but are not limited to, those related to Company's expectations regarding the anticipated benefits of the 2 MWp contract; the amount of revenue that can be derived from the contract; the Company's plans regarding the solar power market; the Company's distribution capabilities; the risk that the contract is changed or cancelled during the contract period, the Company's position in the solar power market; and the Company's future revenue growth, the Company's backlog of orders and demand for its products, and the Company's ability to achieve profitable operations. These statements are neither promises nor guarantees, and involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements, (copies of which may be obtained at the SEC's website at: -- could impact the forward-looking statements contained in this press release. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they are made. The Company disclaims any obligation to publicly update or revise any such statements to reflect any change in Company expectations, or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

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