DEVENTER, THE NETHERLANDS -- (MARKET WIRE) -- 06/07/2006 -- GiraSolar Inc. (PINKSHEETS: GRSR), (FRANKFURT: L2I) is pleased to announce its subsidiary DutchSolar BV has obtained several metric tons of polysilicon for solar industry partners.

DutchSolar BV obtained a significant quantity of poly silicon which is in short supply world wide. DutchSolar invoiced the delivered materials to Asian industry partners and received payment in full.

The latest supply contract generated a transaction for the company of in excess of $1,250,000. As an added value of the supply of raw materials and intermediate products to industry partners, the company expects to be able to market several MWs of its own brand of modules.

COO Koen Dirven stated: "The procurement of polysilicon for our industry partners is an important issue for the short and medium term, especially due to the current worldwide silicon supply crisis. By securing polysilicon for our partners we are able to assist them and in turn are being assisted by our partners. Nevertheless, we expect a great deal from our own technology to produce cheaper solar grade silicon in the near future and hope to decrease our dependency, as well as the dependence of our partners, on conventional silicon production. We believe that the establishment of GiraSolar BV amidst the silicon supply crisis was a good starting point, since we never worked with low priced silicon and have dealt with upmarket price setting from the onset. Our group seems to be handling the situation quite well."

Polysilicon is the base material for growing ingots which in turn are sliced into wafers for the production of solar cells and chips for the electronics industry. Due to the increased demand for very pure silicon in both the semi-conductor industry and solar industry, the required grade of poly silicon is in short supply worldwide.

The GiraSolar group acquires poly silicon for its strategic partners to increase the flow of product through the group and its partner companies to assure the supply of half and intermediate products for the production of its own brand of products.

Wieland Koornstra, CEO of GiraSolar BV, added:"The production of our European made GiraSolar GS-125 to GS-165 modules received quite a push from recent supply agreements with industry partners. A further significant event in our company's development is the already earlier mentioned production of our American made G5 and G6 modules. Recently negotiated supply agreements for the supply of G5 and G6 modules await payment only before execution. As soon as these supply agreements for the G5 and G6 modules commence execution, the latter will be reported upon to our shareholders."

DutchSolar is a 100% owned subsidiary of GiraSolar BV (www.girasolar.com) of the Netherlands. GiraSolar BV is 51% owned by USA based GiraSolar Inc.

This press release contains forward-looking statements within the meaning of federal securities laws. GiraSolar cautions you that any statements contained in this press release that are not strictly historical statements constitute forward-looking statements. Such forward-looking statements include, but are not limited to, those related to the Company's expectations regarding future supplies of polysilicon, its ability to work with lower grade silicon, its technological abilities, the terms and conditions of any future supply agreements; the Company's ability to secure modules as other products from the supply of polysilicon to third parties and industry clients. These statements are neither promises nor guarantees, and involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they are made. The Company disclaims any obligation to publicly update or revise any such statements to reflect any change in Company expectations, or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.