source: SFgate.com 2002.1.18

WASHINGTON (Dow Jones News) -- The Securities and Exchange Commission announced
the temporary suspension of trading in shares of New Energy Corp. Friday because of questions
about the accuracy and adequacy of the company's public statements.

The trading suspension will effectively last until Feb. 4, the agency said.

New Energy's shares were recently off 55 cents on over-the-counter trading at $2.90.

The SEC said Friday that it has questions about the accuracy of company statements regarding the value
of certain power generation contracts and the existence and size of certain purchase orders for
solar chips.

In addition, the agency said it has concerns about the status of New Energy's strategic partner's
relationship with the Los Angeles Department of Water and Power.

Officials from the La Jolla, Calif., company weren't immediately available to comment.