Universal Solar Technology Third Quarter Results Demonstrate an Accelerating Pace of Shipments

Universal Solar Technology Inc. (OTCBB: UNSS), a developer of solar grade ingot, wafers and high efficiency solar photovoltaic modules, announced results for the quarter ended September 30, 2010.

Net sales for the three months ended September 30, 2010 increased to $609,500 from $31,609 for the same period of 2009. Net loss was $164,877 compared to a net loss for the comparable period in 2009 of $174,656.

Wensheng Chen, Chairman and CEO noted, “These revenues, and shipment of over 300,000 wafers during August and September, demonstrate that our new facility is manufacturing quality products and that our sales and marketing team is developing an effective outreach to customers.”

During the nine months ended September 30, 2010, Mr. Chen, other officers of the Company, and the companies they control, increased their investment to Universal Solar Technology by $1,725,931. They will continue to fund the expansion of the Company.

Please refer to our 10Q report filed with the Securities and Exchange Commission for additional information on the results and operations.

Mr. Chen, said of the progress, “We have completed testing of 9 ingot growers and continue to acquire more equipment to expand production volume. We obtained operating permits for a high-pressure container to be used in the silicon ingots department. During the last six months we have accepted delivery of a water cooling system, a multi-wire saw and a framing machine. By the end of September we hired 158 employees. For the PV module departments, two assembling groups are trained and will begin production at the end of the fourth quarter.”

ABOUT UNSS

Universal Solar Technology Inc. manufacturers solar products and provides solar power systems using advanced manufacturing technologies and equipments. Products include solar-grade silicon material (ingots and wafers), solar modules, solar lights and solar power systems. Arizona State University Photovoltaic Testing Laboratory has certified that UNSS Photovoltaic Modules satisfy the standards and requirements of the International Engineering Consortium and has passed the standards for selling products to countries in the European Union. http://www.ustsolar.com

Forward Looking Statements:This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of this document, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this document.