Dutton Associates Announces Investment Opinion: SES Solar Speculative Buy Rating In Updated Initial Coverage By Dutton Associates.

EL DORADO HILLS, Calif. -- Dutton Associates updates its coverage of SES Solar (OTCBB:SESI) maintaining a Speculative Buy rating and a $2.10 price target. The 28-page report by Dutton senior analyst Sally H. Wallick, CFA is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading financial portals.

SES Solar researches, develops, produces, and installs solar energy (photovoltaic or PV) products, including PV modules and roof tiles, with a special emphasis on high-quality products that can be architecturally integrated into new or existing structures. We believe that SES will be well positioned to benefit from soaring demand for solar energy in Europe and worldwide when it consolidates production in a new plant in Geneva Canton, Switzerland. This facility, which is under construction and expected to be completed in the first quarter of 2008, will be fully automated and incorporate innovative manufacturing techniques, resulting in lower labor costs, greater operating efficiencies and higher production volumes. Currently, the Company assembles products made by third parties in a facility in Harkingen, Solothurn, Switzerland. Until the new plant is fully operational, we project that SES's revenue will be modest. After that, we expect a relatively rapid ramp-up in production volumes and revenue. During 2007, we believe that profit and loss statement trends are likely to be less relevant to investors evaluating the Company's progress than achievement of certain operational and strategic milestones, including completion of the Geneva facility early in 2008 and successful testing of new automated equipment at the Harkingen plant during the second half of 2007. In addition, the shares' performance could be affected by external events that influence investor perceptions of the solar industry, such as changes in energy prices and government incentives.

About Dutton Associates

Dutton Associates is one of the largest independent investment research firms in the U.S. Its 30 senior analysts are primarily CFAs, and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.

The cost of enrollment in our one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received US$65,500 from the Company for 8 Research Reports with coverage commencing on 10/16/2006. We do not accept payment of our fees in company stock. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.