Solomon Awarded $1.1 Million Contract

DANBURY, Conn., July 22 /PRNewswire-FirstCall/ -- Solomon Technologies,
Inc. (OTC Bulletin Board: SOLM), announced today that its Power Electronics
division has been awarded a production contract to supply multiple high
voltage power drive systems for laser cutting applications. The contract,
valued in excess of $1.1 million, comprises fifty systems incorporating the
Cobalt 15 product technology.
The Cobalt 15 product family brings together the rugged reliability of
military power electronics with the efficient designs used in industrial
applications and incorporates conformable platforms that are easily tailored
to specific customer needs.
Peter W. DeVecchis, Jr., President of Solomon said, "This new contract is
another example of the success of our strategy in using proprietary technology
platforms to address various power conversion markets. Much of our growth has
been fueled by the ability to understand the nuances of the different market
requirements and then effectively apply these technology platforms to produce
industry leading results." He continued, "Our customers understand their
process requirements; our power electronics group understands how to deliver
power conversion solutions. Together, through strong communication, we
leverage our core competencies to create a valuable partnership."
Mr. DeVecchis added, "This contract is another step in our leveraging of
the broad power conversion capabilities in our Power Electronics division
toward our corporate focus in the renewable and alternative energy markets
where high power, rugged and highly reliable products are mandatory."
Information about Solomon Technologies, Inc.:
Solomon Technologies, Inc., through its Power Electronics and Motive Power
divisions, develops, licenses, manufactures and sells direct current power
supplies and power supply systems requiring high levels of reliability and
ruggedness for defense, aerospace, marine, commercial and industrial
applications as well as precision hybrid and regenerative electric power drive
systems, including those utilizing its patented Electric Wheel(R) Electric
Transaxle(TM) for automotive, hybrid electric and all electric vehicle
applications.
FORWARD LOOKING STATEMENTS: This press release contains forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. The statements regarding Solomon Technologies, Inc. in this release
that are not historical in nature, particularly those that utilize terminology
such as "may," "will," "should," "likely," "expects," "anticipates,"
"estimates," "believes," or "plans," or comparable terminology, are
forward-looking statements based on current expectations about future events,
which management has derived from the information currently available to it.
It is possible that the assumptions made by management for purposes of such
statements may not materialize. Actual results may differ materially from
those projected or implied in any forward-looking statements. Important
factors known to management that could cause forward-looking statements to
turn out to be incorrect are identified and discussed from time to time in the
Company's filings with the Securities and Exchange Commission. The
forward-looking statements contained in this release speak only as of the date
hereof, and the Company undertakes no obligation to correct or update any
forward-looking statements, whether as a result of new information, future
events or otherwise.
Contact:
Solomon Technologies, Inc.
Peter DeVecchis, 727-859-4447
www.solomontechnologies.com
or
Crescent Communications
David Long, 203-226-5527

SOURCE Solomon Technologies, Inc.

Peter DeVecchis of Solomon Technologies, Inc., +1-727-859-4447; or David Long
of Crescent Communications, +1-203-226-5527