OPEL Solar International Inc.
TSX VENTURE : OPL

OPEL Solar International Inc.

March 03, 2011 18:12 ET

OPEL Solar International Grants Incentive Stock Options

SHELTON, CONNECTICUT and TORONTO, ONTARIO--(Marketwire - March 3, 2011) - OPEL Solar International Inc. (TSX VENTURE:OPL) ("OPEL" or "the Company"), a leading global supplier of high concentration photovoltaic ("HCPV") solar panels and other solar products, including ground-based and rooftop tracker systems, today announced the grant of additional incentive stock options under its stock option plan to certain directors, officers, and key consultants of the Company to purchase up to an aggregate of 750,000 common shares, representing 0.86% of the outstanding voting shares of the Company. Options granted to the Company's officers represent 56.7% of the total grants, and options to the independent members of the Board of Directors of the Company represent 26.7% of the total grants. The remaining options were granted to key consultants. The stock options are exercisable at a price of CA$0.76 per share expiring February 28, 2020. The exercise price is closing market price of today, being the next full trading day following yesterday's resumption of trading after issuing the press release announcing the ODIS Intellectual Property Valuation. There are currently 11,562,500 options outstanding and 86,940,514 voting shares outstanding.

The options will vest and be exercisable on the basis of 25% on the date of grant and 25% every six months thereafter. The options were granted subject to provisions of the Company's stock option plan which was approved by shareholders in June 2009, and subject to the TSX Venture Exchange policies and the applicable securities laws.

About OPEL Solar International Inc.

With operations headquartered in Shelton, CT and the head office in Toronto, Ontario, Canada, the Company, through OPEL Solar Inc., designs, manufactures and markets high performance concentrating photovoltaic ("HCPV") panels to transform solar energy into electricity for worldwide application. OPEL's high performance photovoltaic concentrating panels generate up to 40% more kilowatt-hours than conventional flat plate silicon solar panels, resulting in more cost effective electricity generated from the sun. OPEL Solar also markets a complete line of dual and single axis solar trackers to mount either HCPV or flat solar panels for the optimum power output. The Company, through ODIS Inc., a U.S. company, designs infrared sensor type products for military, consumer, industrial and commercial applications. ODIS continues to develop gallium arsenide-based processes and semi-conductor microchip products having several potential major market applications: infrared sensor arrays for Homeland Security monitoring and imaging along with the unique combination of optical lasers, and electronic control circuits on the same microchip for potential applications in various military programs and potentially telecom for, Fiber to The Home.

A leader in gallium arsenide and solar concentrating photovoltaic technology, the Company has been awarded 33 patents and has 17 more patents pending. OPEL's common shares trade on the TSX Venture Exchange under the symbol "OPL". For more information about OPEL, please visit the Company's website at www.opelinc.com.

Dated: March 3, 2011

ON BEHALF OF THE BOARD OF DIRECTORS

Michel Lafrance, Secretary

The TSXV has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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