euro adhoc: Sunways AG / Earnings Forecast / Sunways AG: Negative annual result for 2008; silicon supply adjusted to the currently favorable development of raw material prices

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annual report

06.02.2009

Despite a further rise in demand in the fourth quarter, Sunways AG
(ISIN DE0007332207, ISIN DE000A0BNPN0) closed the fiscal year ended
on 31 December 2008 with a negative result. This development was
mainly due to another marked rise in spot market prices for solar
silicon for the fourth quarter. The raw materials purchased at
significantly lower prices in the last weeks of 2008 will only be
used and lead to a cost reduction in 2009. In addition, the 2008
result was affected by non-recurrent expenses in connection with the
company´s realignment as well as advance payments in relation to the
expansion of capacities in Arnstadt.

Against the background of favorable developments in the market for
raw materials, Sunways AG decided within the framework of its
continuous cost controlling to terminate the wafer supply contract
entered into with Swiss Wafers in October 2008. From today´s point of
view, this step will not result in any financial disadvantage for
Sunways AG. The prepayments made upon conclusion of the contract were
refunded to Sunways.

Wafer shipments from LDK Solar, which are already underway and are
gradually increasing in volume, will result in a marked reduction of
the cost of raw materials and in a sustainable turn-around of the
income situation of Sunways AG from 2009 onwards.

The contractually agreed delivery volumes of LDK are expected to
ensure full supply for Sunways from the 4th quarter. Sunways AG will
continue to procure additional volumes via the spot market.

The company will publish the complete 2008 annual report on 30 March
2009.

end of announcement euro adhoc
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ots Originaltext: Sunways AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Haake, Birgit

Tel.: +49-7531-99677-0

E-Mail: ir@sunways.de

Branche: Alternative energy
ISIN: DE0007332207
WKN: 733220
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse Hannover / free trade
Börse München / free trade