LAST TRADING DAY FOR SUBSCRIPTION RIGHTS IN THE...

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES.

Sandvika,  Norway, May 14, 2010: The  period for trading  in subscription rights
(ticker  ["REC  T"])  in  the  rights  issue of Renewable Energy Corporation ASA
("REC") expires at 17:30 hours (Oslo time) today, May 14, 2010.

Any subscription right not sold prior to 17:30 hours (Oslo time) on May
14, 2010 or used to subscribe for new shares in the rights issue before the end
of the subscription period will lapse and cease to carry any value. The
subscription period in the rights issue will continue until May 20, 2010 at
17:30 hours (Oslo time).

Holders  of subscription rights (whether granted  or acquired) must, in order to
subscribe  for new shares, submit a correctly completed subscription form to one
of the following subscription offices:

+--------------------+------------------------------------+--------------------+
|DnB NOR Bank ASA    |Nordea Bank Norge ASA               |SEB Enskilda AS     |
|Registrar Department|Securities Services - Issuer        |Filipstad Brygge 1  |
|N-0021 Oslo         |Services                            |P.O. Box 1363 Vika  |
|Norway              |P.O. Box 1166  Sentrum,             |N-0113 Oslo         |
|Fax: [phone]|N-0107 Oslo, Norway                 |Fax: [phone]|
|                    |Fax: [phone]                |                    |
+--------------------+------------------------------------+--------------------+

Subscribers who are Norwegian citizens may also subscribe for new shares through
the   VPS   online   subscription   system   (or   by  following  the  links  on
www.dnbnor.no/emisjoner    <

http://www.dnbnor.no/emisjoner>,   www.nordea.no/REC
<

http://www.nordea.no/REC>,  www.sebenskilda.no  <

http://www.sebenskilda.no/> or
www.recgroup.com/rightsissue <

http://www.recgroup.com/rightsissue>, all of which
will  redirect the  subscriber to  the VPS  online subscription  system). Please
refer to the prospectus dated April 30, 2010 for further information.

DnB  NOR  Markets,  Nordea  Markets  and  SEB  Enskilda  are  the  joint  global
coordinators and joint bookrunners for the rights issue.
* See additional important information below.
For more information, please contact;

Bjørn Brenna, EVP & CFO, [phone]
Mikkel Tørud, VP & IRO, +47 976 99 144

For press & media:
Kristin Nordal, Corporate Communications Manager, +47 900 15 550

About REC
REC  is a leading vertically integrated player in the solar energy industry. REC
is  among  the  world's  largest  producers  of polysilicon and wafers for solar
applications, and a rapidly growing manufacturer of solar cells and modules. REC
is  also  engaged  in  project  development  activities in selected PV segments.
Founded  in Norway, REC  is an international  solar company, employing more than
3,000 people  worldwide. REC had  revenues in excess  of NOK 9 billion in 2009.
Please  visit  www.recgroup.com  <

http://www.recgroup.com/>  to learn more about
REC.
                                  * * * * * *
* Important information

This  release  is  not  for  publication  or  distribution,  in whole or in part
directly  or indirectly, in or  into Australia, Canada, Hong  Kong, Japan or the
United  States  (including  its  territories  and  possessions, any state of the
United  States and the District of Columbia). The release does not constitute or
form  part of any offer or solicitation  to purchase or subscribe for securities
in  the United States. The  shares mentioned herein have  not been, and will not
be,  registered under the United States  Securities Act of 1933, as amended (the
"Securities  Act"). The shares may  not be offered or  sold in the United States
except  pursuant  to  an  exemption  from  the  registration requirements of the
Securities  Act.  There  will  be  no  public  offer of securities in the United
States.

This  press release does not constitute or form part of an offer or solicitation
to  purchase or  subscribe for  securities in  the United States. The securities
referred  to  herein  may  not  be  offered  or sold in the United States absent
registration  or an  exemption from  registration as  provided in the Securities
Act.  REC  does  not  intend  to  register  any  portion  of the offering of the
securities  in  the  United  States  or  to  conduct  a  public  offering of the
securities  in the United States. Copies of this announcement are not being made
and  may not be distributed or sent into the Australia, Canada, Hong Kong, Japan
or the United States.

The issue, exercise, purchase or sale of subscription rights and the
subscription or purchase of REC shares are subject to specific legal or
regulatory restrictions in certain jurisdictions. REC assumes no responsibility
in the event there is a violation by any person of such restrictions.

This release is an announcement issued pursuant to legal information
obligations. It is not a prospectus, disclosure document or offering document
and does not purport to be complete. Nothing in this announcement should be
interpreted as a term or condition of the rights issue. Investors should not
subscribe for, purchase, otherwise acquire, sell or otherwise dispose of nil
paid rights, fully paid rights and/or ordinary shares except on the basis of
information in the prospectus to be published by REC in due course in connection
with the rights issue which will contain further information relating to the
company. The prospectus will, following publication, be available on the rights
issue website at [www.recgroup/rightsisse]. This announcement does not
constitute or form part of any offer or invitation to sell or issue, or any
solicitation of any offer to acquire any securities offered by any person in any
jurisdiction in which such an offer or solicitation is unlawful.

The distribution of this release and/or the rights issue prospectus into
jurisdictions other than Norway may be restricted by law. Persons into whose
possession this release comes should inform themselves about
and observe any such restrictions. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such jurisdiction.

DnB NOR Markets, Nordea Markets and SEB Enskilda are acting for REC and no one
else in connection with the rights issue and will not be responsible to anyone
other than REC for providing the protections afforded to their respective
clients or for providing advice in relation to the rights issue and/or any other
matter referred to in this document.

Forward-looking statements:
This release and any materials distributed in connection with this release may
contain certain forward-looking statements. By their nature, forward-looking
statements involve risk and uncertainty because they reflect REC's current
expectations and assumptions as to future events and circumstances that may not
prove accurate. A number of material factors could cause actual results and
developments to differ materially from those expressed or implied by these
forward-looking statements, including the risks and uncertainties to be set out
in the prospectus.

 * * * * *
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


[HUG#1415136]