Morphic carries out 100 percent secured SEK 393m rights issue to fund acquisition of ScanWind and ensure continued growth

Morphic carries out 100 percent secured SEK 393m rights issue to fund
acquisition of ScanWind and ensure continued growth 

This document is an English translation. In the event of any discrepancies
between the original Interim Report in Swedish and this translation, the former
shall have precedence.

This press release may not be distributed, directly or indirectly, in the United
States of America, Australia, Japan, New Zealand or Canada. The offer is not
aimed at persons whose participation would necessitate additional prospectuses,
or registration or other measures pursuant to Swedish law. 

•	1 (one) existing share entitles the holder to subscribe for 1 (one) new share
at a price of SEK 2.40 per share

•	100 percent of the rights issue is estimated to have been secured through
commitments from existing investors and underwriting agreements

•	If the issue is fully subscribed, Morphic will raise approximately SEK 393m
before issue costs

“The acquisition of ScanWind marks a strategic milestone for Morphic that will
enable us to offer a portfolio of turbines for extreme wind conditions and tough
climates, and that is interesting for the international market. The rights issue
completes the funding of the acquisition. At the same time, it creates scope for
continued growth in our wind and other core businesses over the next few years,
when we will be placing a stronger emphasis on profitability,” comments Morphic
CEO Jonas Eklind.

New issue in Morphic
As reported in connection with the announcement of Morphic's acquisition of 80
percent of the shares of ScanWind on June 9, 2008, the Board of Directors of
Morphic Technologies AB (publ) (“Morphic”) has today, September 19, 2008, taken
a decision to carry out new issue with preferential rights to the company's
shareholders. The decision is based on the authorization granted to the Board of
Directors at the company's Extraordinary General Meeting on July 10, 2008. 

The company's shareholders will be entitled to subscribe for 1 (one) new share
for every 1 (one) existing share held in Morphic at a price of SEK 2.40 per
share. A-shares entitle the holder to subscribe for new A-shares and B-shares
entitle the holder to subscribe for new B-shares. As regards the right to
subscribe for A-shares, the Board will present a proposal to the Annual General
Meeting for an adjustment of the company's Articles of Association that will
enable full allocation of such subscription rights. If the rights issue is fully
subscribed, Morphic's share capital will increase to SEK 13,109,762 and the
total number of shares will increase to 327,744,044. At full subscription, the
rights issue will raise SEK 393m for Morphic before issue costs. 
Background and reasons in summary
Morphic is a corporate group operating in three core areas: wind power, energy
systems and fuel cells. The wind power business area, Morphic Wind, is the
largest in terms of turnover and had an order book worth SEK 738m at the end of
July 2008, compared with the Group's total order book at the same date of SEK
1,022m.
 A key element of Morphic's long-term growth strategy is to make important
complementary acquisitions. The acquisition of ScanWind has broadened Morphic's
product portfolio in wind power, putting the Group in a strong position to
establish itself in new markets. ScanWind manufactures and markets wind turbines
with outputs of 3.5 MW and higher that are specially designed for extreme wind
conditions and tough climates. In connection with the acquisition, Morphic
signed a statement of intent with Vattenfall on cooperation for further
development of ScanWind's 3.5-MW turbine for offshore locations. The acquisition
enables significant synergies, primarily in development and sales, as well as in
sourcing of components.

The consideration paid was NOK 189m and the seller was Nord Trøndelag
Elektrisitetsverk AS. The acquisition was funded initially with bank loans and
existing liquidity. The reason for the pending new issue is to apply the
proceeds to redeem acquisition credits, partly comprising an SEK 93m loan, and
redeposit of SEK 104m temporarily withdrawn from funds deposited in the Group's
bank account relating to wind power transactions. Another reason for the issue
is to increase working capital to fund the continued development of the wind
power and other core businesses. The rights issue will enable the company to
ensure balanced growth in its initial commercialization phase, gradually
increasing revenues and strengthening the company's order book. A key objective
in this phase will be to ensure optimal cost efficiency by adapting the
organization to the market's demand for Morphic's products.

Commitments from major shareholders and underwriting agreements
The Board of Directors estimates that 100 percent of the rights issue has been
secured through a combination of subscription commitments, statements of intent
from shareholders and underwriting agreements.

New shares in Morphic may be used in payment of the underwriting fees. Based on
the authorization granted to Morphic's Board of Directors at the Extraordinary
General Meeting on July 10, 2008, new shares of series B may be issued on one or
several occasions before the next Annual General Meeting without preferential
rights for existing shareholders and paid by offset. The authorization may only
be used for payment of underwriting fees in connection with the issue of new
shares. The number of new shares that may be issued in this manner will depend
on Morphic's share price at the time of the offset issue.
Preliminary schedule
•	The last day of trading in Morphic's shares including the right to participate
in the rights issue is September 23, 2008

•	The record date for participation in the rights issue is September 26, 2008

•	A prospectus for the rights issue is intended to be released on September 29,
2008

•	The subscription period is September 30 - October 13, 2008

•	Trading in subscription rights will take place during the period September 30
- October 8, 2008

Company presentations
During the subscription period Morphic will arrange company presentations for
shareholders at which management will present the business. These meetings will
be held as follows:

Stockholm, October 2, 2008, at 5:30 pm
Address: Nordea, Smalandsgatan 17, SE-10571 Stockholm

Gothenburg, October 6, 2008, at 5:30 pm
Address: Hotel Riverton, St Badhusgatan 16, SE-411 21 Gothenburg

Shareholders wishing to attend a meeting are invited to register at Morphic's
website, www.morphic.se.


Nordea Corporate Finance is acting financial adviser to Morphic in the
transaction and KilpatrickStockton Advokatbyrå acts as legal advisor.


For more information, please contact:
Johannes Falk, Vice President Investor Relations, Morphic Technologies AB
Phone: +46 (0)70-676 73 93
E-mail: johannes.falk@morphic.se


This is Morphic
Morphic is a Swedish engineering group operating in the areas of fuels cells,
wind power, fuel cell energy systems and engineering technology. The Group has
about 230 employees and conducts operations in six countries - Sweden, Norway,
Japan, Greece, Italy and Switzerland. Morphic Technologies' B shares have been
listed on the OMX Nordic Exchange since March 4, 2008, and the number of
shareholders is about 25,000.