Chinese Solar Company Goes Public Via Reverse Merger With Blackhawk Financial

CARDIFF, Calif., Jan. 29 /PRNewswire-FirstCall/ -- Blackhawk Financial, Inc., (Pink Sheets: BLWK) is providing this update to its shareholders in response to the numerous questions received since the recently announced acquisition by http://www.winsaint.com/eindex.html China Winsaint Solar ("Winsaint"). Blackhawk Financial was used as a public entity in order for Winsaint to go public via the OTC market and The Definitive Agreement has been signed. Any and all current shareholders of BLWK shares will now own and become shareholders of Winsaint. Any and all future investors that choose to buy BLWK shares in the open market prior to our name and symbol change will also own shares equally in Winsaint.

This is great news for shareholders of BLWK, due to the fact that the value of Winsaint greatly exceeds the value of Blackhawk Financial, Inc. Winsaint posted unaudited revenue of $46,000,000 with earnings of $3,900,000 this past year, with 2009 revenue expected to reach $90,000,000 with earnings of $15,000,000.

Winsaint manufactures high-end mono-crystalline solar wafers for customers inside and outside China. The company has established a solid base of recurring revenues and is now focused on expanding production by offering poly-crystalline solar wafers, a lower-end product with broad applications.

According to data from 2008 China Solar grade Wafer or Ingot Industry Research Report; in 2007 China solar wafer shipments were up 146.8% from 2006. In 2008 wafer shipments increase 99.4% and are expected to maintain double digit levels of growth in the coming years.

From time to time, the Company may issue news releases that contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be "forward-looking statements." "Forward-looking statements" are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.