Ad-hoc release: Phoenix Solar AG sets the volume of the capital increase at 670,200 shares at a placement price of EUR 32.00

Not for distribution, publication or forwarding into the United States of America, Canada, Japan and Australia


Sulzemoos - With the approval of the Supervisory Board, the Executive Board of Phoenix Solar AG, Sulzemoos, Germany (ISIN DE000A0BVU93), today set the volume of the capital increase at 670,200 shares at a placement price of EUR 32.00. The share capital of the company is to be raised from EUR 6,702,500.00 to EUR 7,372,700.00 by way of partial utilisation of the Authorised Capital 2010. Shareholders\' subscription rights were excluded. The 670,200 new no par value bearer shares were placed with institutional investors by way of an accelerated bookbuilding.

The execution of the capital increase is scheduled to be entered into the Commercial Register on 14 July 2010. The new shares are expected to be admitted to trading without a prospectus also on 14 July 2010 and will be included into the existing listing of the old shares on the following day. The new shares will carry dividend rights as from 1 January 2010.

Subject to the registration of the capital increase in the Commercial Register, the company will receive gross proceeds amounting to EUR 21,446,400.00. Phoenix Solar AG will use the proceeds of the issuance to finance the growth planned by the company and, in particular, to forge ahead with the Group\'s internationalisation.


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


Disclaimer

The content of this ad-hoc release is solely for information purposes and is not intended to constitute an offer nor to solicit the submission of an offer to buy or sell securities. There was no public offering in connection with this transaction nor will there be a public offering of securities. No securities prospectus was or will be prepared in connection with this transaction. The dissemination of this ad-hoc release and the offer and sale of securities may be subject to restrictions under the laws of certain jurisdictions.

United States of America

This ad-hoc release is not intended for persons in the United States of America (including its territories, protectorates, states and the District of Columbia) and may not be disseminated in the United States, either directly or indirectly.

This ad-hoc release represents neither an offer nor part of an offer for the sale of, nor an invitation to submit an offer to purchase or subscribe to, securities in the United States of America. The shares of Phoenix Solar AG mentioned herein (the \"shares\") are not and will not be registered in accordance with the provisions set out under the United State Securities Act of 1933 in the respectively valid version (\"Securities Act\") nor under the securities laws of the individual states of America and are neither offered nor sold in the United States of America. The shares may not be offered or sold in the United States of America or to persons in the United States of America, nor delivered to the country either directly or indirectly, barring exceptional cases subject to exemption from the registration requirements of the Securities Act or the law of an individual state of the United States of America.

Canada, Australia and Japan

This ad-hoc release is not intended for persons in Canada, Australia or Japan. The securities mentioned herein may not be offered or sold to persons in these countries.


Sulzemoos, 13 July 2010


Publication and Reprint free of charge; please send a specimen copy
to Phoenix Solar AG.


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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