EANS-News: PI Power International Limited / Annual General Meeting approves all resolutions by an overwhelming majority

Further cash distribution EUR 2.50 per certificate(1) announced

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Annual & Special Corporate Meetings

Utl.: Further cash distribution EUR 2.50 per certificate(1) announced
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St Helier, Jersey, Channel Islands (euro adhoc) - Jersey/Vienna,
October 7, 2009 - All proposed resolutions on the agenda of the
Annual General Meeting (AGM) of PI Power International Limited (PI)
held today, Wednesday, in Vienna, were approved by a majority of 98%
to 100% of votes.

At the AGM the Board of Directors also updated the guidance of
anticipated potential further capital distribution to a range between
EUR 2.60 bis EUR 3.70 per certificate(1) (compared to the range from
1.60 and 3.60 EUR per certificate(1) in June 2009). 2.50 EUR per
certificate(1) shall be distributed as soon as practical. The amount
of EUR 4.40 per certificate1) was already paid out in June 2009.

The certificate holders present at the AGM approved all the
pre-requisites required for authorising the Board of Directors to
make a further interim distribution of capital. After carefully
considering the financial position of PI at the present time and
after giving consideration to making a solvency statement in
accordance with Jersey Company Law, the company will distribute EUR
2.50 per certificate(1) as soon as practical.

In addition the certificate holders authorised the Board of Directors
to distribute up to an aggregate maximum of EUR 200 million to
investors over the next six months. Furthermore, the Board of
Directors was authorised, notwithstanding the permitted
distributions, to declare by way of further interim distributions
such amounts as the directors in their discretion may resolve be
distributed.

As the Articles of Association of the company require that each
director shall retire at each AGM, the current Board of Directors put
themselves forward for re-election. Murdoch McKillop, Richard Boléat,
George Baird and James Shinehouse were re-elected to the roles of
directors of PI. James Shinehouse was also re-elected to the role of
Managing Director of the company.

The AGM also approved the company´s accounts, the directors´ report
and the auditor´s report for the period 1 January 2008 to 31 December
2008. Grant Thornton Wirtschaftsprüfungs- und Steuerberatungs-GmbH,
Vienna, was appointed as auditor to the company.

The Board of Directors also presented at the AGM the unaudited
financial results of PI (parent company) for the half year ended 30
June 2009. The loss after tax was EUR 30.0 m (compared with minus EUR
36.3 m in the full year 2008). Gross assets (excluding cash and
equivalents) at 30.6.2009 amounted to EUR 93.3 m (compared with EUR
125.4 m at year end 2008). After the first cash distribution of EUR
4.40 per certificate(1) the total shareholders funds were EUR 222.9 m
(compared with EUR 506.6 m at year end 2008). Cash and equivalents
amounted to EUR 140.0 m (compared with EUR 390.9 m at year end 2008.

(1) Excluding treasury certificates

Further information on PI Power International is available at:
www.powerinternational.eu

Ende der Mitteilung euro adhoc
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ots Originaltext: PI Power International Limited
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Please address any inquiries to:

Investor Relations and Public Relations

Hochegger Financial Relations GmbH

Mick Stempel

T: +43 1 504 69 87-385

M: m.stempel@hochegger.com

Michaela Lipa

T: +43 1 504 69 87-341

M: m.lipa@hochegger.com

Branche: Energy
ISIN: AT0000A05W59
WKN:
Index: other listings
Börsen: Wien / Third Market