SOURCE: Wall Street News Alert

June 13, 2006 09:52 ET

Stock Alert: SOEN Executes LOI for Supply of Solar Grade Silicon Materials! June 13, 2006

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Wall Street Capital Funding.

WESTON, FL -- (MARKET WIRE) -- June 13, 2006 -- Wall Street News Alert's "stocks to watch" this morning are: Solar EnerTech Corporation (OTCBB: SOEN), Duke Energy (NYSE: DUK), PPL Corp. (NYSE: PPL) and General Electric Company (NYSE: GE).

Solar EnerTech Corp. (OTCBB: SOEN) may be a target of aggressive investors and day traders this morning! Yesterday after the stock markets closed, the company issued a press release announcing the execution of a Letter of Intent (LOI) with PAIS Industries Group (PAIS) whereby PAIS Industries would supply the company with 1,200 metric tons of solar grade silicon ingots for a duration of three years.

News of the LOI should get the attention of investors! The purpose is to supply Solar EnerTech with silicon feedstock needed to manufacture its leading edge solar cells and ensure access to affordable materials in spite of industry-wide silicon shortages.

Continue to watch this company! Solar electric energy demand has grown consistently by 25% every year for the past 15 years. A hurdle facing the rapidly growing $9.9 billion solar industry is a shortage and corresponding price increase of silicon, the main ingredient of solar photovoltaic (PV) cells. Securing a supply of affordable solar-grade silicon would be a significant accomplishment with highly positive implications for the company's growth.

Investors should continue to monitor the progress of Solar EnerTech! Earlier this month, Solar EnerTech announced that its team had traveled to Southern Mongolia at the invitation of the Region's Autonomous Government and met with the Director of the Development and Reform Commission. Inner Mongolia, on the northern frontier of China, is known as one of the world's richest sources of silicon. As a result of the company's visit, several agencies have approached Solar Enertech to discuss possible joint ventures opportunities.

Wall Street News Alert is continuing to place Aggressive Investors on alert to monitor the progress of Solar EnerTech! The company's management has determined that the relationship with PAIS Industries is an excellent strategic alliance and believes that of the various agencies to have indicated their interest in the project, PAIS is currently the most likely candidate to successfully complete an agreement with the local government.

The LOI is contingent upon completion of a formal agreement between PAIS Industries and the government of the Inner Mongolia Autonomous Region to allow PAIS to develop and process locally mined silicon into a marketable solar grade end product.

Prior to the latest press release, the stock closed yesterday at $1.69 a share.

For an in-depth profile of Solar EnerTech Corp, visit http://www.thenewssvc.com/SOEN061206.html.

To view all of Wall Street News Alert's special early morning trading alerts for this morning, visit www.WallStreetNewsAlert.com, where you may also sign up to receive free email alerts in advance of our press releases being issued.

In case you are not familiar with the company: Solar EnerTech is focused on the development and manufacture of high quality solar cells, innovative applications and advanced technologies. The company intends to invest in photovoltaic (PV) cell research to develop higher efficiency cells and put the results of that research to use immediately in its manufacturing processes. 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 projected production capacity for its facility is estimated at an output of 20 megawatts per production line. The company's strategic plan is to have the initial 20 megawatts in production by fourth quarter of this year. The company has also established a marketing, purchasing and distribution arm in Northern California's Silicon Valley.

Duke Energy (NYSE: DUK) up 0.5% on 3.6 million shares traded.

Duke Energy is a diversified energy company.

PPL Corporation (NYSE: PPL) up 1.3% on 4.2 million shares traded.

PPL Corporation controls about 12,000 megawatts of generating capacity in the United States.

General Electric Company (NYSE: GE) down 0.5% on 18.2 million shares traded.

General Electric is a diversified technology, media and financial services company.

Commentary:

"In commodities, gold for August fell by $2.80 to $610.50 an ounce. Crude oil prices fell Monday morning as traders looked at Iran; oil-rich Kazakhstan is expected to sign a U.S.-backed pipeline now running through Turkey," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.

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