The exciton dynamics of C-70 solid has been investigated by the time-resolved photoluminescence (PL) and transient absorption (TA) technique and compared with the case of C-60 solid. Three distinct PL bands were observed at 685, 715, and 740 nm. The high-energy band at 685 nm displayed an almost purely single-exponential decay profile, while the other two exhibited a slow-decaying tail as well, especially at low temperatures. Laser fluence dependence of PL decay profiles shows that the decay in C-70 solid, in contrast to the case of C-60, is predominantly governed by fast (20 ps) nonradiative exciton-trap annihilation, with the intersystem crossing playing a minor role in lower energy bands at 715 and 740 nm. On the other hand, laser fluence dependence of transient absorption signals shows that the decay in C-70 is much faster than PL decay, which indicates the fast component arises from the exciton-exciton annihilation process under extremely high laser fluence condition.