Etrion Releases First Quarter 2011 Interim Financial

Etrion Releases First Quarter 2011 Interim Financial Statements

May 11, 2011, Geneva, Switzerland - Etrion Corporation (“Etrion” or the
“Company”) (TSX: ETX) (OMX: ETX), an independent solar power producer,
today released its condensed consolidated interim financial statements
and related management discussion and analysis (“MD&A”) for the three
months ended March 31, 2011.

First Quarter 2011 Highlights

  · Produced more than 12 million kilowatt-hours of solar electricity
from four solar power projects (Cassiopea, Centauro, Helios ITA and SVE)
  · Generated $7.3 million (€5.2 million) of solar electricity revenue

Management Comments

Marco Northland, the Company's CEO, commented, “With almost 50 MW of
installed capacity, Etrion now has substantial revenues and cash flows
from operations.  Our solar parks are consistently producing
approximately 5% above plan, and we look forward to increasing revenues
as we add additional capacity and enter the season with higher solar
irradiation.”

Mr. Northland continued, “We successfully issued EUR 60 million of
four-year corporate bonds in April in order to repay our shorter-term
bridge loan from Lundin Petroleum. We will continue to build shareholder
value by executing on our pipeline in Italy and reviewing opportunities
to enter a new market in 2011.”

First Quarter 2011 Results

For the three months ended March 31, 2011, the Company reported a net
loss of US$1.5 million (loss per share of US$0.01) compared to a net
loss of US$3.5 million (loss per share of US$0.02) for the three months
ended March 31, 2010. The Company generated its first revenues from the
sale of solar electricity in June 2010 and therefore had no revenue for
the comparative period in 2010. The Company's MD&A contains a detailed
analysis of the periods discussed.

About Etrion

Etrion Corporation develops, builds, owns and operates solar power
plants. Etrion currently owns 47 megawatts (MW) of operational,
ground-based solar photovoltaic (PV) power plants in Italy. The Company
is listed on the Toronto Stock Exchange and the NASDAQ OMX Stockholm
exchange (ticker symbol “ETX”). Etrion's largest shareholder is the
Lundin family, which owns approximately 25% of the Company's shares
through various trusts. 

For additional information, please visit the Company's website at
www.etrion.com or contact:

Garrett Soden - Chief Financial Officer

Telephone: +41 (22) 715 20 90