PHOENIX (PHO): Establishment of subsidiaries - raport 5

The Management Board of Photon Energy a.s. informs that on 27 February 2009 it has registered the following companies:

Photon Trading s.r.o. in which Photon Energy a.s. intends to concentrate its procurement of components for photovoltaic systems (PV modules, inverters, underconstruction, cables, etc.) and through which the company intends to develop its wholesale activities.

Střešní burza - věcná břemena s.r.o. which will enter into and warehouse easement and grid connection agreements related to rooftop projects under development in the Czech roof exchange operated by Photon Energy's fully-owned subsidiary Střešní burza s.r.o.

Photon SPV 7 s.r.o., Photon SPV 8 s.r.o. and Exit 90 SPV s.r.o. These companies are project companies through which Photon Energy will realize its photovoltaic projects.

All companies are 100% owned by Photon Energy a.s., are domiciled in Prague and have a base capital of CZK 200'000 CZK (PLN 33'445) each.

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