AIF Altus Group Limited

Etrion Corporation ("Etrion" or the "Company") (TSX:ETX)(OMX:ETX), an
independent solar power producer, today released its annual information form
("AIF"), annual consolidated financial statements and related management
discussion and analysis ("MD&A") for the year ended December 31, 2010.


2010 Highlights



--  Acquired the 33 MW Montalto solar park, the largest in Italy at the time
    of acquisition, from SunPower Corp., a US-based solar panel manufacturer
    and installer 
--  Acquired a portfolio of solar assets in Italy from Deutsche Bank,
    including 6 MW operational, 10 MW permitted for construction and a
    development pipeline of more than 150 MW 
--  Completed construction of five solar parks in Italy with a total
    capacity of 8 MW to exit 2010 with almost 50 MW operational 
--  Generated solar electricity revenue of almost US$12 million during the
    year 
--  Obtained a secondary listing on the NASDAQ OMX Stockholm exchange in
    Sweden 
--  Closed non-recourse bank financing of approximately US$77 million from
    Natixis, WestLB and Mediocreval for solar power plants with a total
    capacity of 15 MW 
--  Raised approximately US$15 million through a private placement of 21
    million common shares in order to satisfy Toronto Stock Exchange ("TSX")
    listing requirements  



Management Comments

Marco Northland, the Company's CEO, commented, "Etrion made significant progress
in the fourth quarter by closing the second tranche of the Montalto acquisition,
obtaining a secondary listing in Stockholm, closing bank financing for our
recent 15 MW solar project portfolio and completing construction on 8 MW from
our internal solar pipeline." 


Mr. Northland continued, "We now have a dependable cash flow platform and access
to the capital markets through exchanges in North America and Europe. We are one
of the largest solar power producers in Italy and one of the few
publicly-traded, pure-play independent solar power producers. We will continue
to execute on our development pipeline in Italy as we review opportunities to
enter a new market." 


2010 Results

For the year ended December 31, 2010, the Company reported a net loss of US$18.1
million (loss per share of US$0.11) compared to a net loss of US$59.0 million
(loss per share of US$0.37) for the year ended December 31, 2009. The Company's
MD&A contains a detailed analysis of the periods discussed.


The net results for the year ended December 31, 2010, were adversely affected by
non-recurring items of US$7.3 million primarily due to non-cash compensation and
acquisition-related expenses. Before these non-recurring items, the Company's
loss for the year ended December 31, 2010, would have been US$10.8 million (loss
per share of US$0.06). 


The results for 2010 are not comparable to the prior year due to the addition of
the renewable energy segment in September 2009 and the Company's subsequent
change of business focus. In addition, revenues from the Company's solar parks
were recognized for only part of the year beginning on June 24, 2010 for Helios
ITA (6 MW), August 5, 2010 for Cassiopea (24 MW) and October 1, 2010 for
Centauro (9 MW), with no revenue for the comparative period of 2009. 


Etrion has filed its AIF, annual consolidated financial statements and related
MD&A for the year ended December 31, 2010, with Canadian securities regulatory
authorities on the System for Electronic Document Analysis and Retrieval
("SEDAR"). Copies of these documents may be accessed electronically on SEDAR at
www.sedar.com.


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. 


Forward-Looking Information:

This press release contains certain "forward-looking information". All
statements, other than statements of historical fact, that address activities,
events or developments that the Company believes, expects or anticipates will or
may occur in the future (including, without limitation, statements relating to
the Company's future cash flow, access to capital markets, development pipeline
in Italy and plans to enter new markets) constitute forward-looking information.
This forward-looking information reflects the current expectations or beliefs of
the Company based on information currently available to the Company as well as
certain assumptions including, without limitation, assumptions as to the cash
flows to be generated by the Company's current operating projects, construction
of current development projects and the acquisition of suitable projects outside
Italy. Forward-looking information is subject to a number of significant risks
and uncertainties and other factors that may cause the actual results of the
Company to differ materially from those discussed in the forward-looking
information, and even if such actual results are realized or substantially
realized, there can be no assurance that they will have the expected
consequences to, or effects on the Company. Factors that could cause actual
results or events to differ materially from current expectations include, but
are not limited to, the risk that the Company's operating projects may not
generate anticipated cash flows, the risk that proposed changes in the Italian
feed-in-tariff regime may lead to delays in the construction or development of
additional solar projects and may adversely affect the profitability of the
Company's projects under construction or in development, the risk that access to
third party funding may not be available on attractive terms, the risk that the
Company may not be able to obtain necessary regulatory and other approvals, and
the risk that appropriate projects in countries outside Italy may not be
available on attractive terms.


Any forward-looking information speaks only as of the date on which it is made
and, except as may be required by applicable securities laws, the Company
disclaims any intent or obligation to update any forward-looking information,
whether as a result of new information, future events or results or otherwise.
Although the Company believes that the assumptions inherent in the
forward-looking information are reasonable, forward-looking information is not a
guarantee of future performance and accordingly undue reliance should not be put
on such information due to the inherent uncertainty therein.

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