DETROIT, MI, Dec 14, 2005 -- MARKET WIRE

 

Legend Investment Corp. (OTC: LVCP) today announced that it has successfully completed its first alternative-energy transaction. The company's new solar energy division has purchased and subsequently resold $366,930 worth of solar panels. This first transaction is part of a larger overall agreement for further supply. The solar panels were purchased from a supplier based in the United States and resold through Legend Investment Corp. affiliates overseas.

According to a leading alternative-energy trade group, solar energy has become an extremely profitable investment in certain target countries, and recent research and technological advances are expected to further increase returns on solar investments. The global solar market has grown 25% annually in the past ten years with recent peaks as high as 45%, whereas hydrocarbon energy demand typically grows between 0-2% per annum.

Peter Klamka, the President of Legend Investment, commented, "We are very pleased at the speed and size of our first transaction in the solar power arena, and the company expects that we will see additional orders and deals flow in the next few quarters. The recent announcement from BP, Britain's largest oil company, that it expects to invest $8 billion into alternative energy over the next 10 years shows that increased energy prices and global instability are making alternative energy solutions much more attractive to both large networks all the way to the local household consumer. The continued price decline in products such as solar roofing panels make this an attractive alternative for the energy-conscious consumer."

In addition to acting as a solar panel supplier, Legend Investment also anticipates working with its new European partner to acquire alternative energy companies. Legend Investment can give no assurances that this new established partnership will ultimately result in the acquisition of any new alternative energy companies.

Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes," "soon," "anticipates," "plans," or "expects," and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties including the ability of the company to conclude any negotiations, form any subsidiaries, sell additional panels at a profit, develop any business from those subsidiaries, or acquire any alternative energy company. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements. Reference is made to the Company's filings with the Securities and Exchange Commission for a more complete discussion of such risks and uncertainties.

SOURCE: Legend Investment Corporation

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