Astropower partners with Pardee Homes to offer 'Living Smart' Program

source: press release www.astropower.com Oct 16, 2001

AstroPower, Inc. (Nasdaq: APWR) announced today that its solar electric power systems are playing an integral role in the Living Smart(TM) program announced last week by Pardee Homes, Inc. One of San Diego's largest homebuilders and an AstroPower partner, Pardee Homes is offering solar electric power as a feature in its new home construction.

The Living Smart program provides state-of-the-art energy conservation, environmental, and health options to new homebuyers. Living Smart program features will be incorporated into Pardee Homes' 97-home Santa Barbara community in San Diego's Pacific Highlands Ranch early next year. AstroPower and Pardee Homes formed an alliance in June to offer solar electric power as a feature in its new home construction. The alliance established a goal of building a total of 200 solar-powered homes over the next 2.5 years, and the Living Smart program is a critical milestone in the partnership.

AstroPower's solar electric power systems fall under the Energy Smart(TM) component of the Living Smart program. Solar electric power enables homeowners to generate their own electricity. As a result, they'll increase their energy independence; add comfort, value, and security to their homes; and protect the environment. Solar electric power will also reduce homeowners' utility bills, which is a fundamental Energy Smart goal.

Pardee Homes' Living Smart program also includes Health Smart initiatives, which are designed to enhance indoor air and water quality, and Earth Smart building products, which are designed to preserve environmental resources. The program is endorsed by the San Diego chapter of the Sierra Club.

"We are happy to have AstroPower as part of our Living Smart program," said Joyce Mason, Vice President of Marketing at Pardee Homes.

"AstroPower is pleased to be a part of Pardee Homes' innovative, comprehensive Living Smart program," said Dr. Allen Barnett, President and CEO at AstroPower. "Programs such as this prove that solar electric power is becoming mainstream as it achieves a high level of acceptance by leading homebuilders and their customers."

For more information about Pardee Homes' Santa Barbara community, call (858) 794-2500.

About AstroPower
Headquartered in Newark, Delaware, AstroPower is the world's largest independent manufacturer of solar electric power products, and one of the world's fastest-growing solar electric power companies. AstroPower develops, manufactures, markets and sells PV solar cells, modules, panels and systems for generating solar electric power. Solar electric power systems provide a clean, renewable source of electricity in both off-grid and on-grid applications. In December 2000 AstroPower was added to the S&P SmallCap 600. In February 2001, AstroPower was ranked 39th on Business Week's Top 50 S&P Small Cap Company list for one- and three-year performance. For more information, please visit www.astropower.com.

About Pardee Homes
Headquartered in Los Angeles, Pardee Homes has offices in San Diego, Camarillo, CA, and Las Vegas. Pardee Homes has won countless awards from both within and outside of the homebuilding industry, winning recognition for its architecture, merchandising, equal opportunity marketing, advertising and more. Pardee Homes has long recognized the value of cultural diversity in our communities and is committed to equal housing opportunity. The company's goal is to offer quality housing, excellent value and memorable service to all homebuyers and prospective homebuyers.

This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, as described in the Company's registration statements and periodic reports filed with the Securities and Exchange Commission. As a result, there can be no assurance that the Company's future results will not be materially different from those projected. The projections contained herein speak only of the Company's expectations as of the date of this press release. The Company hereby expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which such statement is based.