euro adhoc: Conergy AG / Capital measures / Conergy: Capital increase, Liquidity strengthened, Change in Board of Management, Examination of balance sheet valuations

--------------------------------------------------------------------------------
Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
--------------------------------------------------------------------------------

Company Information

07.11.2007

Conergy: Capital increase, Liquidity strengthened, Change in Board of
Management, Examination of balance sheet valuations

Hamburg, 7th November 2007 - Conergy, Europe's largest solar power
company has strengthened its financial strength through an inflow of
funds of EUR 100 million.

The company´s founder and chief executive Hans-Martin Rüter will
leave the company after the publication of the results for the first
nine months (12th November 2007) on 15th November. Until a successor
has been appointed, the Chairman of the Supervisory Board, Dieter
Ammer, will become interim Chief Executive Officer.

A short-term shortfall in liquidity has developed following Conergy´s
strong growth. This tight short-term liquidity situation has now been
eliminated on a sustainable basis through an inflow of funds of EUR
100 million. This includes an additional credit line of EUR 30
million with a term expiring at the end of February 2008. The
remaining EUR 70 million will come from a capital increase decided by
the Board of Management and the Supervisory Board. In detail, the
company's Management Board and Supervisory Board decided on 6th of
November to issue new equity in the amount of EUR 70 million. Under
exclusion of shareholders' subscription rights, this capital increase
was subscribed by members of the Management Board and the Supervisory
Board and family members ("existing shareholders") and by Leemaster
Ltd., which is controlled by Dr. Otto Happel.

In the course of the capital increase, the company has issued
2,088,929 new shares at a price of EUR 33.51 (equal to the average
share price over the last five trading days). Leemaster has initially
acquired a share of 4.25 percent and has also been granted options by
the existing shareholders to acquire additional shares up to a stake
of 25.1 percent. The option exercise price is considerably less than
the current share price.

The outlook for the current year is subject to a critical examination
of the balance sheet valuation principles of Conergy AG as well as to
the results from various working groups, which are currently
analyzing the Conergy´s business areas. In this context, the German
Financial Reporting Enforcement Panel (FREP) has informed Conergy
that it will examine the accounts for 2006 and for the first six
months of 2007.

end of announcement euro adhoc 07.11.2007 15:31:04
--------------------------------------------------------------------------------

ots Originaltext: Conergy AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Thorsten Vespermann
Tel.: +49 (0)40 27142-1631
Email: t.vespermann@conergy.de

Branche: Energy
ISIN: DE0006040025
WKN: 604002
Index: TecDAX, Technologie All Share, CDAX, HDAX, Prime All Share,
Midcap Market Index
Börsen: Börse Frankfurt / official dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Düsseldorf / free trade
Börse Hannover / free trade