PHOENIX (PHO): Establishment of subsidiaries - raport 2

The Management Board of Photon Energy a.s. informs that on 2 February 2009 it has registered the following companies:

Photon SPV 3 s.r.o., Photon SPV 4 s.r.o., Photon SPV 5 s.r.o. and Photon SPV 6 s.r.o. domiciled in Prague with a base capital of CZK 200'000 CZK (PLN 31'576) each.

These companies are project companies through which Photon Energy will realize its photovoltaic projects. All companies are 100% owned by Photon Energy a.s.

Legal basis:

§ 3 sec.1. of the Appendix 1 to Resolution No. 346/2007 of the Warsaw Stock Exchange Management Board dated 30 May 2007 "Current and Periodical Information in the Alternative Trading System".

Osoby reprezentujące spółkę:
Michal Gärtner Chairman of the Board of Directors
Georg Hotar Vice-chairman of the Board of Directors