Ad-hoc-Announcement: Reinecke + Pohl Sun Energy AG discloses details concerning the convertible bonds

Hamburg, April 18 2006: Upon approval of the Supervisory Board, the Executive Board of Reinecke + Pohl Sun Energy AG (ISIN DE0005250708) has decided to arrange the conditions of the convertible bonds as follows: It concerns a subscription right emission of up to 1.55 million shares in the name of the holder and equitable partial debentures among themselves, in a calculated nominal amount of 10,00 EUR each. An indirect subscription right is granted to the shareholders through the VEM Aktienbank AG, Munich. The subscription ratio is 3:1. A trade in subscription rights shall not take place. The subscription period runs from April 21 to May 5 2006. The un-subscribed shares will be placed to institutional investors by May 8 2006.

The subscription price amounts to 21,90 EUR per partial debenture with a nominal value of 10,00 EUR, which leans upon a volume-weighted average exchange rate of the past 20 trading days according to Bloomberg. The term begins on May 8 2006 and expires after three years at the end of May 7 2009. As far as the option for conversion from the partial debenture is not exercised nor the partial debenture be prematurely paid back, the partial debentures are then to be paid back at subscription price at the end of the term.

The convertible loan - based on the subscription price of EUR 21,90 - will bear an interest rate of 3.5% p.a. Interest payments will be made annually at year's end respectively at the end of the term.

The Company assumes that the earnings per share (EPS) will improve due to the additional company growth after calculation of the additional shares. Further information concerning the Company can be found at www.rpse.de. On April 20 2006, the exact terms of the convertible bonds will be published on this website as well as in "elektronischer Bundesanzeiger" and "Börsen Zeitung".

Information and Explaination of the Issuer to this News:

Reinecke + Pohl Sun Energy AG
ISIN: DE0005250708
WKN: 525070
Regulated Market (Frankfurt Stock Exchange - General Standard; Düsseldorf Stock Exchange)
Xetra (continuous trading)

Reinecke + Pohl Sun Energy AG
Susanne Kostorz
ABC-Strasse 19
20354 Hamburg
Tel. +49 (0)40 / 696528-134
Fax: +49 (0)40 / 696528-58
E-Mail: kostorz@rpse.de
http://www.rpse.de

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