SHANGHAI, China, Nov. 7 /PRNewswire-FirstCall/ -- Perfectenergy International Limited (OTC:PFEN) (BULLETIN BOARD: PFEN) announced the acquisition of land in the Shanghai Zizhu Science-Based Industrial district of Shanghai, China. This new land will allow Perfectenergy to build two new solar cell production facilities with 200MW of total new production capacity upon its completion. Construction is expected to begin on the facility in June 2008. Perfectenergy received significant land and tax concessions from the Shanghai government to support this expansion of its business. "The new facility will enable our business to meet our worldwide customers' rapidly growing demands for solar products and accelerate our leading product development activities" commented Jack Li, CEO of Perfectenergy International Limited. "This also demonstrates Shanghai's continued support and recognition of the importance of solar power". About Perfectenergy International Limited Perfectenergy International Limited designs, manufactures, and markets customized and standard photovoltaic ("PV") solar cells, modules and systems for the worldwide solar market. Perfectenergy currently sells its products into Europe and Asia. The Company began producing its solar products in 2005 from its sophisticated 67,000-square foot manufacturing plant in Shanghai, China. The full details of the transactions described in this press release can be found in our filings with the Securities and Exchange Commission. Safe Harbor Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving known and unknown risks, delays, and uncertainties that may cause the our actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks, delays, and uncertainties include, but are not limited to: risks associated with the uncertainty of future financial results, our reliance on our sole supplier, the limited diversification of our product offerings, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements. DATASOURCE: Perfectenergy International Limited CONTACT: Sinan Kanatsiz of KCOMM, Inc., +1-949-443-9300, , for Perfectenergy International Limited; or Corporate Information, +86 (21) 54888436, fax, +86 (21) 54888243 Web site: http://www.perfectenergy.com/

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