Solomon Arranges Patent Litigation Financing

TARPON SPRINGS, Fla.--Nov. 2, 20059, 2005--Solomon Technologies, Inc. (OTCBB:SOLM) announced today that it has arranged funding to prosecute its patent infringement case against Toyota Motor Corporation. Oliver Street Finance, LLC, has agreed to pay all legal fees and expenses in exchange for a portion of any recovery Solomon receives in the litigation equal to the greater of 40% of the recovery or the actual amount of legal fees and expenses Oliver Street pays on Solomon's behalf. As previously announced, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. has agreed to represent Solomon in its pending claims against Toyota. Michael A. D'Amelio, a member of Solomon's board, is affiliated with Oliver Street.

Solomon President Peter W. DeVecchis, Jr., said, "We are extremely pleased to have concluded our efforts to fund the costs of this lawsuit. We believe that the analyses done in coming to this arrangement, by both Mintz and Oliver Street, are major endorsements of our claims against Toyota."

Mr. D'Amelio commented, "After studying the claims of this case and evaluating the risk and possible rewards of the litigation, we believe that Solomon's case against Toyota is strong and convincing. The fact that a major law firm has agreed to undertake the representation is very encouraging."

Mr. DeVecchis also commented "With this major financing behind us, we can now focus on articulating our long term strategy to stockholders and begin the implementation. We expect to initiate that process by the beginning of the first quarter of 2006."

Solomon brought suit against Toyota Motor Corporation, Toyota Motor Sales U.S.A. Inc. and Toyota Motor Manufacturing North America in the United States District Court for the Middle District of Florida, Tampa Division, on September 12, 2005, claiming infringement of a number of claims in Solomon's patent number 5,067,932, primarily relating to Toyota's use of the technology in its Prius and Highlander Hybrid vehicles.

Information about Solomon Technologies, Inc.:

Solomon Technologies, Inc. currently provides propulsion systems for new and retrofit marine applications and offers motors for high growth, high volume land based vehicle and machinery applications. Solomon, through its proprietary propulsion systems and patented Electric Wheel(R) technology, offers a unique electric motor design with an ability to efficiently regenerate electricity and leads the way in the recreational boating industry's adoption of the fundamental new technology.

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 the 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.