Sandvika,  January  16,  2008:  REC  has  entered  into  a  long-term 
agreement for  supply  of  multi crystalline  silicon  wafers  to  LG 
Electronics Inc. Under  the agreement,  REC will  until 2014  deliver 
wafers worth more than USD 340 million (NOK 2.2 billion). 
 
REC Wafer,  the  world's  leading  manufacturer  of  multicrystalline 
silicon wafers, has signed a long-term agreement with LG  Electronics 
Inc. in  Korea  for  the  supply of  multi  crystalline  wafers.  The 
agreement, which  runs until  2014, is  structured as  a  take-or-pay 
contract with  pre-determined  prices  and  volumes  for  the  entire 
contract period. The contract has an estimated value of more than USD 
340 million (NOK 2.2 billion). 
 
"We are  happy to  sign a  new  long-term contract  with one  of  the 
leading electronics  companies in  the  world. REC's  total  contract 
portfolio, in  excess  of  NOK  60  billion,  provides  a  reasonable 
visibility on future revenues", says Erik Thorsen, President & CEO. 
 
The deliveries will start with  limited volumes in 2010 and  increase 
over the  contract period.  Prices are  in line  with earlier  signed 
contracts and are predetermined to  go down over time also  depending 
on customer's  ability to  utilize thinner  wafers. Other  commercial 
terms also falls within the standard REC contract framework. 
 
"We are proud to  include LG Electronics  to our customer  portfolio. 
This provides us  with an  exciting opportunity to  learn from  their 
extensive mass production and product development capabilities", says 
Ingelise Arntsen EVP of REC Wafer. 
 
About REC 
REC is uniquely positioned as one  of the most integrated company  in 
the solar energy industry. REC Silicon and REC Wafer are the  world's 
leading producer of  polysilicon and wafers  for solar  applications. 
REC Solar  produces  solar cells  and  solar modules  and  engage  in 
project development activities in selected segments of the PV market. 
REC Group had revenues in 2007 of NOK 6,642 million and an  operating 
profit of NOK 2,588 million. Please also see www.recgroup.com 
 
For further information please contact: 
Erik Thorsen, President & CEO; +47 907 56 685 
Jon Andr� L�kke, SVP & Investor Relations Officer; +47 907 44 949 
 
 
This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement. 
 
http://www.recgroup.com 
Copyright � Hugin AS 2009. All rights reserved.

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