MW Coast Mountain Power Corp

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Etrion Corporation ("Etrion" or the "Company") (TSX:ETX) has completed the
previously announced acquisition of a portfolio of solar assets in Italy from
Deutsche Bank for 10.3 million euros.


Marco Northland, the Company's CEO, commented, "We are pleased to take ownership
of these assets that represent immediate revenues for the company. There is
substantial value in the more than 150 MW of projects under development, a large
part of which is already fully permitted and ready for construction."


The Italian solar portfolio acquired from Deutsche Bank includes 6.4 megawatts
("MW") of operating assets and 10 MW of permitted projects ready for
construction in the Puglia region plus a development pipeline of more than 150
MW in various stages of permitting.


The operating solar photovoltaic plants are expected to produce over 10 million
kilowatt hours ("kWh") of electricity and approximately 4 million euros of cash
flow ("EBITDA") per year. The plants benefit from the 2009 feed-in-tariff of
0.353 euros per kWh plus a market price of approximately 0.08 euros per kWh.


The Italian feed-in-tariff is a premium purchase price for electricity from
solar generation and is guaranteed by the Italian government for 20 years from
the start of operations.


The operating plants also benefit from an existing non-recourse loan from
Societe Generale, Sace and Dexia for up to 41 million euros available on the
basis of 90:10 debt-to-equity, of which approximately 35 million euros is
expected to be drawn.


Etrion also announces that its previously announced equity financing to meet the
Toronto Stock Exchange listing requirements for the industrial category,
originally scheduled to close in late June, is now targeted to close by the end
of July.


About the Company

Etrion Corporation is a Canadian energy company based in Geneva, Switzerland and
listed on the Toronto Stock Exchange (ticker symbol "ETX"). The Company is
focused on building, owning and operating electrical power plants based on
renewable sources of energy, including solar photovoltaic, solar thermal and
wind.


The Company is owned 45% by Lundin Petroleum, a Swedish independent oil and gas
company traded on the NASDAQ OMX Stockholm exchange (ticker symbol "LUPE"), and
approximately 13% by the Lundin family through various trusts.


Forward-Looking Information:

This press release contains certain "forward-looking information". All
statements, other than statements of historical fact, that address activities,
events or developments that the Company believes, expects or anticipates will or
may occur in the future (including, without limitation, statements relating to
the production capacity of the assets acquired from Deutsche Bank and the
expected cash flow therefrom and the Company's anticipated equity offering)
constitute forward-looking information. This forward-looking information
reflects the current expectations or beliefs of the Company based on information
currently available to the Company as well as certain assumptions including,
without limitation, assumptions as to the price at which the Company will be
able to sell electricity from the project and an assumption that the Company
will be able to realize EBITDA margins for the projects that are equivalent to
the average margins for similar projects. Forward-looking information is subject
to a number of significant risks and uncertainties and other factors that may
cause the actual results of the Company to differ materially from those
discussed in the forward-looking information, and even if such actual results
are realized or substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on the Company. Factors that could
cause actual results or events to differ materially from current expectations
include, but are not limited to, the possibility of operating costs being higher
than anticipated and the risk that the Company may not be able to complete its
anticipated equity offering.


Any forward-looking information speaks only as of the date on which it is made
and, except as may be required by applicable securities laws, the Company
disclaims any intent or obligation to update any forward-looking information,
whether as a result of new information, future events or results or otherwise.
Although the Company believes that the assumptions inherent in the
forward-looking information are reasonable, forward-looking information is not a
guarantee of future performance and accordingly undue reliance should not be put
on such information due to the inherent uncertainty therein.

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