Etrion Announces Non-Core Asset Sale

October 15, 2013, Geneva, Switzerland – Etrion Corporation (“Etrion” or the
“Company”) (TSX: ETX / OMX: ETX), a solar independent power producer, announces
the sale of its non-core legacy oil and gas assets for aggregate proceeds of
US$5 million.

Etrion has sold all of its shares in PFC Oil & Gas, CA (“PFC”) for US$5 million
in cash. US$3 million was paid at closing, and the balance of US$2 million is
expected to be received in March 2014. PFC owns 40% of PetroCumarebo and 5% of
Baripetrol, two Venezuelan oil and gas companies controlled by Petróleos de
Venezuela (“PDVSA”), the national oil company. The board and management of PFC
is expected to remain unchanged.

The Company shifted its business focus from oil and gas to renewable power
generation following the acquisition of Solar Resources Holding Sarl in
September 2009. Since that time, the Company’s holdings in PetroCumarebo and
Baripetrol have been considered passive investments classified as available for
sale. The non-core assets were carried on Etrion’s balance sheet at US$1 million
net of advance dividends. Etrion’s remaining assets are entirely focused on
solar power generation.

About Etrion

Etrion Corporation is an independent power producer (“IPP”) that builds, owns
and operates utility-scale solar power generation plants. The Company owns 17
solar power plants in Italy with approximately 60 megawatts (“MW”) of installed
capacity. The Italian operations generate more than US$40 million of annual
earnings before interest, taxation, depreciation and amortization (“EBITDA”).
Etrion is also developing solar power projects in Chile, including a 70 MW solar
park in partnership with Total SA. The Company is listed on the Toronto Stock
Exchange in Canada and the NASDAQ OMX Stockholm exchange in Sweden (under the
same ticker symbol, “ETX”). Etrion’s largest shareholder is the Lundin family,
which currently owns 24.5% of the Company’s shares directly and through various
trusts.

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

Marco A. Northland – Chief Executive Officer

Telephone: +41 (22) 715 20 90