DGAP-News: Clear Skies Holdings Inc. english

DGAP-News: Clear Skies Holdings Inc. english


Letter of Intent

Clear Skies Solar Inc.:Clear Skies Solar Signs Letter of Intent to Acquire Assured Power & Communications CorporationCorporate News transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Press Release Source: Clear Skies Group, Inc.

Agreement Will Integrate Assurecom's Advanced Solar Technology with Clear
Skies' Pioneering Solar Innovation
LOS ANGELES, CA - Clear Skies Group, a wholly-owned subsidiary of Clear
Skies Solar, Inc. (OTCBB:CSKH.OB), today announced it has signed a letter
of intent to acquire Assured Power & Communications Corporation
(Assurecom), a California-based solar technology innovator led by seasoned
technical engineers Dennis Wingo and Kenneth Kledzik. Wingo and Kledzik
will both join Clear Skies Solar's executive leadership team.
The acquisition will serve to further enhance the in-house research and
development capabilities that have made Clear Skies Solar (CSS) a leader in
providing renewable energy solutions. CSS designs, engineers, manufacturers
and installs the most advanced and cutting-edge technology currently
available in the renewable energy market, and the company recently unveiled
its cutting-edge TetraPort Solar Carport System, its patented X-Trax™ Solar
Monitoring System and its proprietary Solar Power Supply (SPS) Vehicle Data
Monitoring Device.
'We are thrilled about moving forward as one team,' said Ezra Green,
Chairman and CEO of Clear Skies Solar. 'The chemistry between our groups
could not be better. Dennis and Ken bring the benefit of decades of
technical expertise in computer, solar and aerospace industries and the
combination resulting from this acquisition means that the solar technology
possibilities are literally limitless.'
Wingo, who has worked for many years in the aerospace and technology fields
on projects such as solar system outposts and high-level defense industry
programs, will be named Clear Skies Solar's new Chief Technology Officer.
He began his career in the commercial computer industry where he
contributed to a succession of pioneering companies such as Vector Graphic
Incorporated, an early leading microcomputer company; Ibis, maker of early
large capacity disk drives; Symbolics, the world's first dedicated
artificial intelligence desktop computer; and Alpharel, a pioneer in
multi-Terabye engineering data management systems.

Wingo went on to found or co-found three companies: Skycorp Incorporated,
which specialized in design of spacecraft to be assembled in space at the
International Space Station; Orbital Recovery Limited, a company
specializing in extending the operational lifetimes of large communications
satellites; and ultimately Assured Power & Communications Corporation.
Kledzik, a seasoned computer industry professional, will become Vice
President of Tech Operations. His career began in image processing and
hardware development and quickly transitioned into sustaining engineering
and later hardware development at Vector Graphic and Corona Data Systems.
From there, while working at Eaton Test Systems and Vitesse Semiconductor,
he migrated into the ATE (Automated Test Equipment) industry and eventually
back to PC Design working as a consultant for Intel. He eventually went on
to become one of the original founders of both Micron Corporation and
Memtek, Inc. and served as partner at LegacyElectronics, Inc. prior to
transitioning to Assured Power & Communications Corporation.
'We feel that this acquisition of Assurecom by Clear Skies Solar brings
significant value to our and Clear Skies Solar's shareholders,' Wingo said.
'The marriage of the robust construction expertise of Clear Skies Solar to
the technological innovations under development at Assurecom for advanced
solar power systems will result in significant benefits to the combined
company's customers.'
Wingo and Kledzik will bring Clear Skies Solar a combined 58 years of
experience in the computer, solar and aerospace industries and 16 granted
patents in various technical areas. Together, they will lead the commercial
launch of CSS X-Trax as well as direct the completion of several other
patent-pending products and products currently in the research and
development stages.
'Both Ken and I look forward to joining with Clear Skies Solar CEO Ezra
Green to bring innovative and cost-effective solar solutions to our
customers and build shareholder value for our investors,' added Wingo.
'With Dennis's extensive technology expertise and Ken's solid track record
of executing projects and bringing them to fruition in the marketplace, I
am thrilled to have their talent on board in time to launch our
newly-patented X-Trax™,' concluded Green.
Pending due diligence, the acquisition is expected to be finalized by May
1, 2008.
About Clear Skies Group
Clear Skies Solar, Inc. through its wholly-owned subsidiary, Clear Skies
Group, Inc. ('CSG'), provides full-service renewable energy solutions to
commercial, industrial, and agricultural clients across the country. CSG
was incorporated in 2003 and launched formal operations in 2005. During
that time period, CSG developed its proprietary systems, obtained licenses
and certifications, and acquired technologies that could maximize the
impact of its construction expertise on the renewable energy sector. CSG
has become one of the premier solar electric installation companies in the
country. For more information about CSG, visit www.clearskiesgroup.com.
Forward-Looking Statement Disclaimer
Statements in this press release that are not statements of historical or
current fact constitute 'forward-looking statements.' Such forward-looking
statements involve known and unknown risks, uncertainties and other unknown
factors that could cause the Company's actual opeRating results to be
materially different from any historical results or from any future results
expressed or implied by such forward-looking statements. In addition to
statements that explicitly describe these risks and uncertainties, readers
are urged to consider statements that contain terms such as 'believes,'
'belief,' 'expects,' 'expect,' 'intends,' 'intend,' 'anticipate,'
'anticipates,' 'plans,' 'plan,' to be uncertain and forward-looking. The
forward-looking statements contained herein are also subject generally to
other risks and uncertainties that are described from time to time in the
Company's filings with Securities and Exchange Commission.
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Media Inquiries:
Avalanche Strategic Communications
Laura Finlayson, 201-488-0049
laura@avalanchepr.com
Investor Relations:
PR Financial Marketing
Jim Blackman, 713-256-0369
jim@prfmonline.com


(c)DGAP 27.03.2008
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