Ad-hoc release: Phoenix Solar AG releases guidance for the financial year 2010

Sulzemoos - The compromise found on 5 July 2010 through the intervention of the Mediation Committee between the German Bundesrat and Bundestag on the promotion of photovoltaics under the German Renewable Energy Act has made an assessment of the German solar market 2010 possible. Accordingly, the Executive Board of Phoenix Solar AG (ISIN DE000A0BVU93) is today releasing its guidance for the financial year 2010. The Executive Board of the leading international photovoltaic system integrator listed on the German TecDAX estimates that there will be a substantial increase in consolidated revenue to between EUR 660 and EUR 700 million as against the previous year\'s figure. Of this amount, 20 percent is to be generated through international business. Group EBIT (earnings before interest and taxes) is also set to rise substantially to between EUR 36 and EUR 40 million.


Disclaimer

The content of this press release is solely for information purposes and is not intended to constitute a recommendation for investment or a solicitation to subscribe or an offer to buy or sell securities of the company. Phoenix Solar AG shall undertake no liability whatsoever for any loss in connection with this press release or the information made available. This applies particularly to any eventual loss arising in connection with the shares of Phoenix Solar AG.

This document contains forward-looking statements on future developments which are based on management\'s current assessment. Words such as \"anticipate\", \"assume\", \"believe\", \"estimate\", \"expect\", \"intend\", \"can/could\", \"plan\", \"project\", \"forecast\", \"should\", and similar terms are indicative of such forward-looking statements. Such statements are subject to certain risks and uncertainties which are mainly outside the sphere of influence of Phoenix Solar AG, but which have an impact on the business activities, the success, the business strategy and the results. These risks and factors of uncertainty include, for instance, climatic change, changes in the state subsidisation of photovoltaics, the introduction of competitor products or technologies of other companies, the development of the planned internationalisation of business activities, fierce competition as well as rapid technological change in the photovoltaic market. If one of these or other factors of uncertainty or risks should occur, or if the assumptions underlying the statements should prove incorrect, the actual results may diverge substantially from the results in these statements or implicit indications. Phoenix Solar AG does not have the intention nor will it undertake any obligation to realise forward-looking statements on an ongoing basis or at a later point in time as this is entirely dependent on circumstances prevailing on the day of their release.

In some countries, especially in the United States of America, the dissemination of this press release and the information contained therein may be restricted or prohibited under the law. This press release is therefore expressly not intended for persons resident in the United States of America or any other legal system under which such an offer or solicitation is not permissible, or for persons for whom such an offer or invitation would constitute a breach of the law.


Sulzemoos, 7 July 2010


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Attention editorial offices: For further questions please contact Mrs.
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
Internet: http://www.phoenixsolar.de

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