REC ASA - Primary insiders transactions

Sandvika, July 7, 2009; With reference to the ongoing rights issue
announced on May 19, 2009, the following primary insider transactions
will be undertaken:

Primary insider Ole Enger (President and CEO of REC) has subscribed
to 689 new shares according to all the subscription rights received.
After this transaction, Enger and related parties hold 2,689 shares
in REC.

Primary insider Tore Torvund (Executive Vice President - REC Silicon)
has subscribed to new 1,379 new shares according to all the rights
received. After this transaction, Torvund and related parties hold
5,379 shares in REC.

Primary insider Ingelise Arntsen (Executive Vice President - REC
Wafer) has subscribed to 2,156 new shares according to all the
subscription rights received. After this transaction, Arntsen and
related parties hold 8,411 shares and 25,507 options in REC.

Primary insider John Andersen, Jr. (Executive Vice President - REC
Solar & Group COO) has subscribed to 47,407 new shares according to
all the subscription rights received. After this transaction,
Andersen and related parties hold 184,890 shares and 20,123 options
in REC.

Primary insider Bjørn Brenna (Executive Vice President & CFO) has
subscribed to 12,907 new shares according to all the subscription
rights received. After this transaction, Brenna and related parties
hold 50,348 shares and 25,507 options in REC.

Primary insider Jon André Løkke (Senior Vice President & Investor
Relation Officer) has subscribed to 31,237 new shares according to
all the subscription rights received. After this transaction, Løkke
and related parties hold 121,832 shares and 11,731 options in REC.

Primary insider Einar Kilde (Executive Vice President - Projects) has
subscribed to 224 new shares according to all the subscription rights
received. After this transaction, Kilde and related parties hold 874
shares and 24,064 options in REC.

Primary insider Kristine Ryssdal (Senior Vice President - CLO) has
subscribed to 174 new shares according to all the subscription rights
received. After this transaction, Ryssdal and related parties hold
679 shares and 20,454 options in REC.

Primary insider Unni Iren Kristiansen (Employees elected
representative to the Board) has subscribed to 691 new shares
according to all the subscription rights received. After this
transaction, Kristiansen and related parties hold 2,696 shares in
REC.

Primary insider Rolf Birger Nilsen (Employees elected representative
to the Board) has subscribed to 174 new shares according to all the
subscription rights received. After this transaction, Nilsen and
related parties hold 679 shares in REC.

Primary insider Lena Beate Lorentzen (Deputy employee elected
representative to the Board) has subscribed to 74 new shares
according to all the subscription rights received. After this
transaction, Kristiansen and related parties hold 288 shares in REC.

Primary insider Erik Sauar (Senior Vice President & CTO) has
subscribed to 56,296 new shares and intends to sell 68,800 of his
subscription rights. After this transaction, Sauar and related
parties hold 424,259 shares and 17,145 options in Renewable Energy
Corporation ASA.

Primary insider Svánaug Bergland (Senior Vice President -
Organizational Development & Corporate Communications) intends to
sell all of her 4,159 subscription rights. After this transaction,
Bergland and related parties hold 12,064 shares and 15,641 options in
REC.

The allotment of potential oversubscription by primary insiders will
be done on or about July 17, 2009, and will subsequently be
announced.


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.

  NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART
DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, HONG KONG, JAPAN OR 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  U.S. Securities  Act of  1933,  as
amended. The Company 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 United States, Australia, Canada, Hong Kong or Japan.


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