March 2, 2007

Høvik, Norway: REC Hires Executive Vice President for Wafer Division

Ingelise Arntsen (b. 1966) has been hired as new Executive Vice President at REC ASA effective 1 June 2007 with the responsibility to lead REC's Wafer division. Ingelise Arntsen holds a B.Sc. (Econ.) degree with special emphasis on business analysis.

She comes to REC from Statkraft, Norway, where she has had EVP positions since 2003, currently in charge of the business area New Energy which develops and constructs Statkraft's new power production capacity within hydro-, wind- and gas power in Norway and internationally. She is also responsible for Statkraft's R&D activities within new renewable energy.

Ms. Arntsen is a Danish citizen and has a broad international background. She has worked 6 years for the shipbuilding company Kvaerner Fjellstrand in Singapore and Norway, held the position as Managing Director of Sogn og Fjordane Energiverk (a regional energy company) and led the Norwegian energy practice within Arthur Andersen Business Consulting. Ingelise Arntsen will be based at REC Wafer's head office at Høvik, Norway.

Further details about: REC Group