Los Angeles, CA – June 10, 2010

PermaCity Solar, an innovative leader in specialized energy solutions, announced today its contract to design and construct a 432.5 kW AC solar electric system atop a custom engineered carport for the Cathay Bank Corporate Center in El Monte, California. The carport boasts 2,128 solar panels, sourced from PermaCity Solar?s partner Sch?co, estimated to generate 695,181 kWh annually.

Upon completion, the structure is projected to result in a 40% decrease in energy costs, saving the bank more than $9,000 per month. In addition to providing covered parking for approximately 300 bank customers and staff each day, the PermaCity Solar carport is designed and engineered to meet Cathay Bank?s high aesthetic requirements.

PermaCity Solar worked with Gensler, an award-winning architectural firm who recently designed and managed the renovation of the Cathay Bank Corporate Center, and EcoMotion, a notable renewable energy consulting firm, to create what is expected to be the most architecturally advanced solar carport design in the United States.

Cathay Bank has already incorporated environmentally conscious construction and operational elements, such as waterless bathroom fixtures and recycled paper, into its Corporate Center making PermaCity Solar?s energy solution a natural fit. By installing a solar carport, the bank is not only reducing its dependence on energy from fossil fuel sources, but also attaining an attractive return-on-investment coupled with additional monetary savings in the form of generous state rebates and federal tax incentives. “Our goal is to implement solar energy solutions that allow our customers to minimize their carbon footprint and reduce overall energy overhead in a cost effective, aesthetically pleasing way, ” said Jonathan Port, PermaCity Solar President and CEO. “The project for Cathay Bank is designed to provide continuous sustainable energy for the property while offsetting an estimated 1,411 barrels of oil and reducing 494 tons of CO2 from being released into the atmosphere. These cut backs act as the equivalent of planting 2,364 trees per year.” Construction of the solar carport is set to commence on June 14, 2010 and is scheduled to be completed by September 2010. The Cathay Bank Corporate Center is located at 9650 Flair Dr. in El Monte, California. About PermaCity Solar: PermaCity Solar is an innovative leader in specialized energy solutions. The company ensures its clients minimize their carbon footprint and maintain a long-term, competitive advantage by installing solar power systems engineered to significantly reduce energy costs. PermaCity Solar has demonstrated particular expertise in designing and installing its systems atop large commercial buildings, government institutions, and homes. Its industry-leading techniques can create 100% energy independent buildings. PermaCity Solar believes that on-site clean energy generation can be achieved through the implementation of solar systems that utilize environmentally friendly and energy efficient building materials in a cost-effective manner. Headquartered in Los Angeles, the company draws from a professional staff of more than 230 and creates hundreds of local jobs. Since 2006, PermaCity Solar?s large solar group is partially owned by Mangan, Inc., specialists in engineering and automation. Please visit PermaCity Solar virtually at www.permacity.com.