Phoenix Solar AG: syndicated loan of EUR 150 million prematurely extended until November 2012

Sulzemoos - Phoenix Solar AG (ISIN DE000A0BVU93), a photovoltaic system integrator listed on the German TecDAX, has agreed a premature extension of a syndicated loan with its syndicate member banks. The loan was granted in November 2008 in an amount of EUR 150 million. Its term has now been extended until November 2012. It serves to finance the working capital of the Phoenix Solar Group and to cover its need for guarantees and letters of credit. \"Given the difficult environment in the sector the extension of the loan agreement is proof of the trust vested by the syndicate member banks in Phoenix Solar AG\", commented Sabine Kauper, Chief Financial Officer of Phoenix Solar AG.

This is an English translation of the German original. Only the German version is binding.


About Phoenix Solar AG

Phoenix Solar AG, which has its headquarters in Sulzemoos near Munich, is a leading international photovoltaic system integrator. The Group achieved total revenues of EUR 636 million and an EBIT of EUR 36.4 million in the financial year 2010. The company develops, plans, builds and takes over the operation of large-scale photovoltaic plants and is a specialist wholesaler for complete power plants, solar modules and accessories. The Group is a leader in photovoltaic system technology. It focuses on the consistent lowering of system costs. With a sales network throughout Germany, and subsidiaries in Spain, Italy, Greece, France, Singapore, Malaysia, Oman, Australia and the United States of America, the Group currently has a workforce of more than 400 employees. The shares of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the official market (Prime Standard) of the Frankfurt Stock Exchange and on the TecDAX, Deutsche Börse AG’s technology index.


Sulzemoos 1 July 2011


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Attention editorial offices: For further questions please contact Mrs. Jutta Stolp, Investor Relations Phoenix Solar AG.

Hirschbergstr. 8
D-85254 Sulzemoos
Tel: 08135-938-484
Fax: 08135-938-399
E-mail: j.stolp@phoenixsolar.de
Internet: http://www.phoenixsolar-group.com

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