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Pinnacle Energy Corp. (OTCBB: PENC)announces that on February 1, 2010, it completed the acquisition of theaircraft component part design, engineering and manufacturing business ofHarbin Aerospace Company, LLC. The transaction was structured as an assetacquisition.

Following the acquisition Pinnacle has appointed aerospace industry veteranWilliam Reed McKay as its Chief Executive Officer and a member of its Boardof Directors. Mr. McKay replaces David Walters as Pinnacle's ChiefExecutive Officer. Mr. Walters will continue to serve as a member ofPinnacle's Board of Directors.

Mr. Walters stated, "We are extremely pleased to have completed theacquisition of the aircraft component part design, engineering andmanufacturing business of Harbin Aerospace. Harbin's proprietary aerospacebearing technologies present a significant opportunity to enter into ajoint venture in China to manufacture component parts for commercialaircraft."

Mr. Walters also commented, "Bill McKay is a successful aerospace veteranwith over 25 years of experience and we look forward Clip in hair extensions to Bill leading theexecution of the significant opportunities that China presents."

Pinnacle's newly appointed CEO Bill McKay stated, "We are very excitedabout the opportunities in China. With the development of China'shome-grown C919 commercial aircraft and the ongoing expansion by Boeing,Airbus and Embraer into the region, we see this as an incredibleopportunity to be on the ground floor, producing and marketing much neededcomponent parts. Our discussions of the project with the local andProvincial Government in China, Boeing, Airbus, Embraer and AVIC haveuniformly been met with a very high level of interest, support andcooperation, all of which we believe will lead to the success of theproject."

Mr. McKay also commented, "China is the world's fastest-growing majorair-travel market, with Asia-Pacific demand forecasted at about 8,000planes over the next 20 years. China will account for more than a third oforders valued at $1.4 trillion."

"Each and every one of those planes uses approximately 3,000 parts that weplan to make," said McKay. The company also expects to generate revenuefrom the spares market as the parts are replaced on a regular basis.

About Mr. McKay

Mr. McKay, age 55, has twenty-five years experience in theaerospace/manufacturing industry, holding many senior management positionsincluding General Counsel, General Manager, Manufacturing Manager, COO andCEO of both private and public companies. Since Human hair extensions March 2009, Mr. McKay hasbeen the founder and Chief Executive Officer of Harbin Aerospace Company,LLC, an aircraft component part design, engineering and manufacturingcompany. Prior to forming Harbin, he was an aerospace industry consultantinvolved in aerospace projects in China and other aspects of the industry(2008 to 2009). From 2006 to 2008, Mr. McKay served as Chief OperatingOfficer for Acromil Corporation, an aerospace structural componentmanufacturing company. Prior to Acromil, Mr. McKay served (from 1986 to2006) in a variety of senior management roles with Southwest ProductsCompany, a specialized engineering consulting firm and designer andmanufacturer of plain spherical bearings used primarily in aerospace, navaland sophisticated commercial applications. He started as General Counsel(1986), and was promoted to Executive Vice President and General Manager(1987) and Chief Executive Offices (1991). As part of the acquisition ofSouthwest Products C
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