Solar energy corporation, REC, continues to grow with IFS

Solar energy corporation, REC, continues to grow with IFS

Renewable Energy Corporation ASA (REC), the Norwegian solar energy company,
which is listed on the Oslo Stock Exchange, has signed an agreement valued at
close to SKr 17 million with IFS for licenses and consulting services. The
agreement with IFS gives REC the agility and support it requires to continue to
grow inside Norway and internationally.

The agreement provides REC Wafer and REC Solar with access to IFS Applications.
REC Wafer has been an IFS customer since 2002, when the company implemented IFS
Applications components for financials, distribution, and maintenance at its
production facilities in Glomfjord and Herøya, Norway.

At REC Solar the solution will be implemented step by step, beginning with REC's
new prodution facility for solar cells in Narvik, Norway. REC Solar also
produces solar cells in Sweden, and that unit expects to begin to implement IFS
Applications next year.

The solar energy industry is a fast-growing sector, expanding by about 45
percent annually in recent years. REC is the world's leading integrated solar
energy company. REC Silicon produces polysilicon,which REC Wafer uses to produce
super-thin silicon wafers that are turned into solar cells and solar modules by
REC Solar, among others. 

“Agility, scaleability and control are critical issues for us now that we plan
to continue to expand. This is what we demand of our production facilities and
of our business applications. IFS has demonstrated that it can deliver what we
need so we have decided to further develop our collaboration,” said John
Andersen jr., Executive Vice President & Group COO at REC.

The high-tech industry is one of IFS' targeted vertical markets. IFS offers
industry-specific solutions for companies in the electronic equipment,
electronic component, and semiconductor industries. These solutions support all
business processes, from design and mixed-mode manufacturing to after-sales
support and warranty management.
IFS' high-tech customers include Philips Business Communications, NEC, SiRF,
Maxon Motor, Kontron, and Olympus Optical.

About REC
REC is uniquely positioned in the solar energy industry as the only company with
a presence across the entire value chain. REC Silicon and REC Wafer are the
world's largest producers of polysilicon and wafers for solar applications. REC
Solar produces solar cells and solar modules. REC Group had revenue in 2006 of
NKr 4.3 billion and an operating profit of NKr 1.6 billion.

About IFS and IFS Applications
IFS (OMXS: IFS), the global enterprise applications company, provides solutions
which enable organizations to respond quickly to market changes—allowing
resources to be used in a more agile way to achieve better business performance
and competitive advantage.

IFS was founded in 1983 and now has 2,600 employees worldwide. IFS has pioneered
component-based ERP software with IFS Applications, now in its seventh
generation. IFS' component architecture provides solutions that are easier to
implement, run and upgrade. IFS Applications is available in 54 countries in 22
languages. 

IFS has over 600,000 users across seven key vertical sectors: aerospace &
defense; automotive; high-tech; industrial manufacturing; process industries;
construction, contracting & service management and utilities & telecom. IFS
Applications provides extended ERP functionality including customer relationship
management (CRM), supply chain management (SCM), product lifecycle management
(PLM), corporate performance management (CPM), enterprise asset management (EAM)
and maintenance repair and overhaul (MRO) capabilities.

More details can be found at www.IFSWORLD.com.

IFS Applications is a trademark of IFS Industrial and Financial Systems. All
other referenced company or product names are trademarks or registered
trademarks of their respective owners.

For further information, please contact:
Glenn Arnesen, Managing Director, IFS Scandinavia
Telephone: +47 66 90 73 00
Mobile: +47 90 15 58 80
E-mail: glenn.arnesen@ifs.no 

Anne Reidun Vandbakk, Corporate Communications Director, IFS Scandinavia
Telephone: +47 66 90 73 00
Mobile: +47 95 20 65 45
E-mail: anne.vandbakk@ifs.no

Manni Svensson, Investor and Public Relations, IFS
Telephone: +46 8 5878 4500