Solomon Closes $15 Million Acquisition Credit Facility

DANBURY, Conn., Aug. 27, 2007 -- Solomon Technologies, Inc. (BULLETIN BOARD: SOLM) announced today that it has signed a definitive financing agreement which provides for up to $15 million in credit exclusively for acquisitions. The agreement provides funds on a standby basis secured by the acquired assets and a guarantee by Solomon. The agreement contemplates that Solomon will use the facility to strike more quickly at unique acquisition opportunities that are consistent with its growth plans.

"We are extremely pleased to have closed the credit facility in anticipation of our expanding acquisition activity," said Gary G. Brandt, Chief Executive Officer of Solomon. "As we build Solomon's operating plan beyond our existing acquisitions of Deltron and Unipower, we expect to roll this facility forward as we consolidate the acquired companies and procure permanent financing. This is a very important step in reaching our $100 million revenue goal for 2009. We will speak more about this step and our larger plans at our quarterly conference call in early September."

The credit facility has a one year term that is renewable at the option of the lender. The facility may be drawn on at Solomon's sole discretion, subject to the approval of the proposed acquisition by the lender's investment committee and to the lender's normal due diligence. The lender, JMC Venture Partners, LLC, is an affiliate of Michael D'Amelio, one of Solomon's directors.

Information about Solomon Technologies, Inc.:

Solomon Technologies, Inc., through its Motive Power and Power Electronics divisions, develops, licenses, manufactures and sells precision electric power drive systems, including those utilizing its patented Electric Wheel(TM), Electric Transaxle(TM) and hybrid and regenerative technologies as well as direct current power supplies and power supply systems requiring high levels of reliability and ruggedness for defense, aerospace, marine, commercial, automotive, hybrid electric and all electric vehicle applications.

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 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.