DGAP-Adhoc: Phoenix Solar Aktiengesellschaft raises the volume of and extends the framework agreement with KGAL

Phoenix Solar Aktiengesellschaft / Contract

14.01.2009 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Phoenix Solar AG raises the volume of and extends the framework agreement
with KGAL

Sulzemoos 14 January 2009 / Phoenix Solar AG (ISIN DE000A0BVU93) has today
raised the volume of the framework agreement signed in September 2007 with
KG Allgemeine Leasing GmbH & Co. (KGAL) by at least EUR 150 million and
extended it through the year 2011. The parties to the contract have agreed
that the Phoenix Solar Group will develop large photovoltaic plants on
behalf of KGAL and build them in the capacity of general contractor. The
investment volume over the period from 2009 to 2011 is now worth a minimum
of EUR 375 million. The target markets for the construction of the power
plants are Germany, Spain, Italy, Greece and France and, in future, other
countries where the economic conditions are also suitable.


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 also applies particularly to any eventual loss 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.

This is an English translation of the German original. In the event of any
doubt, the German version shall prevail.

Contact:
Phoenix Solar AG
Anka Leiner
Investor Relations
Hirschbergstraße 8
D-85254 Sulzemoos

Tel. +49 (0) 8135 938-315
Fax: +49 (0) 8135 938-399
a.leiner@phoenixsolar.de
www.phoenixsolar.de

Amtsgericht München HRB 129117 
Ust-ID Nr. DE 812868419 


DGAP 14.01.2009 
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Language:     English
Issuer:       Phoenix Solar Aktiengesellschaft
              Hirschbergstraße 8
              85254 Sulzemoos
              Deutschland
Phone:        +49 (0)8135-938-000
Fax:          +49 (0)8135-938-099
E-mail:       kontakt@phoenixsolar.de
Internet:     http://www.phoenixsolar.de
ISIN:         DE000A0BVU93
WKN:          A0BVU9
Indices:      TecDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Hannover, Hamburg, Düsseldorf, München, Stuttgart
End of News                                     DGAP News-Service
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