SOURCE: Solar Thin Films, Inc.

May 17, 2011 08:00 ET

Solar Thin Films, Inc. Discusses 2011

NEW YORK, NY--(Marketwire - May 17, 2011) - Solar Thin Films, Inc. (PINKSHEETS: SLTZ) reflects on the present year and changes moving forward.

Solar Thin Films, Inc. (the "Company") has changed its business from its discontinued operations with respect to the sale of turnkey factories for the production of thin film solar modules to concentrate on establishing, financing, managing and syndicating solar farms as power projects both domestically and internationally. The Company plans to change the name of Solar Thin Films, Inc. to one which better defines its new direction.

Solar Thin Films, Inc. is presently in preliminary negotiations on projects both domestically and internationally and should have additional updates in the near term.

Though the Company is required to file quarterly and annual reports with the SEC, it is delinquent in its annual report for the year ended December 31, 2010 and its quarterly report for the period ending March 31, 2011. Accordingly, the information contained in existing SEC filings is not a fair and accurate representation of the Company's business and/or finances.

The Company has debts which are in default. Management has spoken to most of its creditors and believes that it will be able to convert such outstanding debts into common stock of the Company. In addition to these defaulted debts, the Company has one lawsuit pending against it.

About Solar Thin Films, Inc.

Solar Thin Films, Inc. (PINKSHEETS: SLTZ) was formerly engaged in the manufacturing of solar module production equipment and turn-key amorphous silicon module factories. The Company is now seeking to establish itself as an international developer and syndicator of solar power projects.

Forward-Looking Statements
Forward-looking statements are based upon the beliefs of our management, as well as assumptions made by and information currently available to our management. When used in this press release, the words "estimate," "project," "believe," "anticipate," "intend," "expect" and similar expressions are intended to identify forward-looking statements. These statements reflect our current views with respect to future events and are subject to risks and uncertainties which may cause our actual results to differ materially from those contemplated in our forward-looking statements. We caution you not to place undue reliance upon such forward-looking statements, as our results could differ materially from those anticipated in these forward-looking statements as a result of certain factors. Any such statements are representative only as of the date of this press release. We do not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances subsequent to the date of this press release or to reflect the occurrence of unanticipated events.