REC ASA - Minutes from the Annual General Meeting

The Annual General Meeting of the shareholders of Renewable Energy
Corporation ASA ("REC" or the "Company") was held on May 19, 2009 at
14:00 (Oslo time) in Oslo Konserthus in Oslo.
The minutes from the Annual General Meeting recording the resolutions
made are enclosed hereto, and are also available on REC`s website at
www.recgroup.com.

The board had amended their original proposals as set out in the
notice with respect to the following items:

  * The requested board authorisation to increase the share capital
    regarding the employee share purchase program was decreased to
    maximum NOK 2,000,000. The requested authorisation to increase
    the share capital by up to NOK 49, 000, 000 to ensure that the
    Company has sufficient financial flexibility with respect to
    capital expenditure and related working capital requirements and
    acquisitions was upheld. (Item 9)
  * The maximum loan amount that could be raised under the board
    convertible loan authorisation was increased to maximum NOK
    4,900,000,000 (the corresponding maximum share capital increase
    by maximum 49, 000,000 was upheld as originally proposed). (Item
    11)
  * A minor adjustment to the board's statement on compensation to
    leading employees was made, as set out in the minutes. (Item 7
    part 2.)

As follows from the minutes, the general meeting adopted all
resolutions as proposed by the board.

For more information, please contact;
Jon André Løkke, SVP & Investor Relation Officer, [phone]


About REC
REC is the leading vertically  integrated player in the solar  energy
industry. REC Silicon  and REC  Wafer are among  the world's  largest
producers of polysilicon and wafers  for solar applications, and  REC
Solar is a rapidly growing  manufacturer of solar cells and  modules.
REC Group had revenues of NOK  8,191 million and an operating  profit
of NOK 2,529  million in 2008.  About 2,500 employees  work in  REC's
worldwide organization. Please also see www.recgroup.com.


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