Phoenix Solar AG: decision to execute a capital increase of up to 607,500 shares

Sulzemoos - In partial utilisation of the Approved Capital 2006, the Board of Directors of Phoenix Solar AG (ISIN DE000A0BVU93) took the decision yesterday evening to raise the capital of the company by issuing 607,500 no-par bearer shares while excluding shareholder subscription rights. The Supervisory Board of the company has today ratified the decision. The new shares are to be admitted, without a prospectus, to trading on the official market (Prime Standard) of the Frankfurt Stock Exchange and are entitled to a share in profits as from 1 January 2007.

The new shares are to be offered to qualified investors in Germany and other European countries by way of an accelerated bookbuilding procedure. The issue price will be determined immediately prior to placement. HSBC Trinkaus & Burkhardt AG will accompany the transaction as lead manager and sole bookrunner.

The proceeds from the capital issue will be used to finance planned company growth and to further the internationalisation of the Group’s business.


About Phoenix Solar AG
Phoenix Solar AG, which has its headquarters in Sulzemoos near Munich, is a leading international photovoltaic systems integrator. Until June 2007, the company, which was set up in 1999, went by the name of Phönix SonnenStrom AG. The preliminary figures for the financial year 2007 come to EUR 260 million in total revenues, with an EBIT of EUR 22.3 million. The Phoenix Solar Group anticipates sales considerably in excess of EUR 300 million, generated in Germany and abroad, for the financial year 2008. Phoenix Solar AG plans, builds and operates large photovoltaic plants and is a specialist wholesaler for complete power plants, solar modules and accessories. The Group is a leader in photovoltaic systems technology. It focuses on the consistent lowering of system costs. With a sales network which covers the whole of Germany, and subsidiaries in Spain and Singapore, as well as a participation in Italy, the Group currently has a workforce of more than 160 employees. The shares of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the official market (Prime Standard) of the Frankfurt Stock Exchange. On 25 March 2008, the shares of the company were admitted to the TecDAX technology index of Deutsche Börse AG.


Sulzemoos, 02 April 2008


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Anka Leiner, Investor Relations Phoenix Solar AG.

Hirschbergstr. 8
D-85254 Sulzemoos
Tel: 08135-938-315
Fax: 08135-938-399
E-mail: a.leiner@phoenixsolar.de>a.leiner@phoenixsolar.de
Internet: http://www.phoenixsolar.de

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