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Universal Communication Systems, Inc. Subsidiary Millennium Electric T.O.U. Ltd. Signs International Agreement to Erect a USD$6.5 Million, 1000 kW Grid-Connected PV Solar Power Station With Local Italian Company, Restruttura S.L.R., in Southern Italy
Monday September 12, 5:40 pm ET
The Agreement Was Signed With the Blessing of and in the Presence of the Israeli Ambassador to Italy as Well as the Economic Attache; This 1 MW PV Grid-Connected System Will Be Erected in Italy and Is Valued at EU$5.5 Million


SALANDRA, ITALY--(MARKET WIRE)--Sep 12, 2005 -- Universal Communication Systems, Inc. (OTC BB:UCSY.OB - News) subsidiary Millennium Electric T.O.U. Limited company President & CEO, Mr. Ami Elazari, today issued the following statement: "I am pleased to announce that we have concluded our negotiations, signed an agreement and have entered into a major Joint Venture agreement with Restruttura S.L.R., a local, well-established Italian company operating in the field of energy. The transaction calls for the establishment and erection of a 1000 kW, grid-connected PV system using our Millennium brand, state-of-the-art photovoltaic technology."
Source: Universal Communication Systems, Inc.


(click to enlarge)
· Millennium Electric
· Universal Communication System




Our agreement calls for an initial payment of USD$242,000 for the first phase that is to be installed and total of USD$6.5 million for the entire project which will be concluded in about 18 months. Under the terms of the agreement, Millennium Electric T.O.U. Limited will install a 1 Mega Watt Solar Power station using Millennium brand 160-watt photovoltaic panels, connected to the Italian grid and capable of producing 1,500,000 kWh annually. According to plans, the operation is to receive EU$0.50 for each kWh of electric energy that will be sold back to the local Italian Electric grid.

This "Sell Back Program" is part of the JV agreement with local Italian company Restruttura, which, according to a newly passed Italian law, enables private energy companies to sell green electricity produced from (PV) Photovoltaic systems back to the Italian Electric grid and receive EU$0.50 for each kWh that is produced from the sun. Accordingly the JV Company and that the majority of the shares are to be held by Millennium, the company expects to receive an annual gross income of EU$750,000. (About USD$925,000)

Mr. Ami Elazari, President and CEO of Millennium Electric, went on to state: "This JV agreement that we have concluded here in Italy is part of the basic Millennium and UCSY strategy, namely to obtain and establish a major foothold in select countries worldwide. We believe that we have found a very good industry partner in Italy and a partner that will be instrumental in helping us build our global markets. The market for Photovoltaic Solar Energy products and services continues to grow very fast, and we plan to grow our market share, in this ever expanding multi-billion dollar industry."

Mr. D'Alessandro, CEO of Resstruttura, issued the following statement: "We are very happy to work in cooperation with Millennium Electric and utilize their unique technologies in photovoltaic while introducing them into the Italian market. This 1000 kW grid-connected power station is just the first of many more to come".

The agreement was executed in the presence of the Israeli Ambassador to Italy, Mr. Ehud Gold, and Mr. Mordechai Rodgold, the Head Economic Attache.

About Millennium Electric T.O.U. Limited

For further detailed information, visit our web address: http://www.millenniumsolar.com

About AirWater Corporation

For further detailed information, visit our web address: http://www.airwatercorp.com

About Universal Communication Systems Inc.

For further detailed information, visit our web site: www.ucsy.com