June 22, 2006 07:00 ET Announces (OTCBB: SOEN) Profile Coverage

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO Circuit.

LAKE HARMONY, PA -- (MARKET WIRE) -- June 22, 2006 -- Solar EnerTech Corp. (OTCBB: SOEN) (the Company) today provides a corporate update to review its progress establishing manufacturing capabilities, executing a LOI to secure potential silicon supplies, earning favorable analyst coverage, and taking a lead role in the China Renewable Energy Summit and recent appointments. Solar EnerTech is focused on the development and manufacture of quality solar cells, applications and advanced technologies, taking advantage of rapidly increasing demand in the solar power market, which grew 55% last year to $11.2 billion.

Solar EnerTech is making excellent progress toward the rapid start-up of its manufacturing operations. Construction of the Company's new state-of-the-art solar cell manufacturing plant in Shanghai is running ahead of schedule and within budget. The project management team has overseen the installation of the majority of the infrastructural equipment for its first production line and construction of the second line is proceeding on track.

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