SOURCE: Worldwide Energy & Manufacturing USA, Inc.

December 18, 2008 09:00 ET

Worldwide Energy and Manufacturing Announces an Additional $23 Million in New Solar Cell Supply Contracts

SOUTH SAN FRANCISCO, CA and SHANGHAI, CHINA--(Marketwire - December 18, 2008) - Worldwide Energy and Manufacturing USA, Inc. (OTCBB: WEMU), a U.S.-based China manufacturing company specializing in products for customers in the industries of solar energy, aerospace, wireless telecommunications, medical equipment and automotive, today announced that its solar division, AmeriSolar, has received three additional solar module contracts valued at approximately US$23 million. These latest orders come on the back of two recently announced solar contracts totaling US$13.7 million, bringing Worldwide's total current backlog of new orders for its solar division to $36.7 million.

"With the advantage of our competitive edge: 'better quality control technology and strong sales contacts,' we believe we will continue generating triple-digit revenue and earnings growth in 2009 and 2010," said Jimmy Wang, CEO of Worldwide Energy.

"With geopolitical events impacting fossil fuel supplies and the general need to find energy alternatives, we anticipate a steady growth rate in the demand for solar energy," continued Wang. "We have implemented our operational strategies to capitalize on this growth, including the opening of our Ningbo solar manufacturing facility in China; and we are very pleased with steady flow of contract orders we are seeing."

According to Solarbuzz, the photovoltaic industry, which converts light energy to clean and affordable power, generated $17.2 billion in global revenues in 2007. The solar industry remains the fastest growing among renewable energy industries, and Worldwide is quickly positioning itself as one of the fastest-growing solar panel producers.

About Worldwide Energy and Manufacturing USA, Inc.

Worldwide Energy and Manufacturing USA, Inc. ("Worldwide"), headquartered in South San Francisco, California, is a 15-year-old engineering-oriented firm specializing in PV panel, mechanical, electronics and fiber optic products manufacturing. The company's worldwide customer base includes the industries of solar energy, wireless telecommunications, aerospace, automobiles and medical equipment. Subsidiaries include Shanghai Intech Electro Mechanical Products Co. Ltd., Shanghai Intech Electronics Manufacturing Co. Ltd. and Shanghai Intech Precision Mechanical Products Manufacturing Co. Ltd., located in Shanghai, China.

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Forward-looking statements:

The above news release contains forward-looking statements. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of business risks, external factors and uncertainties. Actual results may differ materially from those indicated by such forward-looking statements. The Company assumes no obligation to update the information contained in this press release, whether as a result of new information, future events, or otherwise.

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