SolarWorld AG

ots Ad hoc-Service: SolarWorld AG SolarWorld AG: Bayer Solar to be Renamed Deutsche Solar

Ad hoc-announcement edited and sent by DGAP. The sender is solely responsible for the contents of this announcement. ----------------------------------------------------- Bonn (ots Ad hoc-Service) - Voluntary communication in line with @ 15 WpHG (Securities Trading Act) and pursuant to @ 2, Section 2, of the Investors' Guidelines of the Düsseldorf Stock Exchange SolarWorld AG: Bayer Solar to be Renamed Deutsche Solar / Conversion into an AG (German stock corporation) by Year End / To Be Headed by Three Man Executive Board in Future SolarWorld AG, Bonn, and Bayer AG, Leverkusen, completed the sales contract for Bayer Solar GmbH, Freiberg, last week. Under this contract Bayer Solar, Europe's largest and Germany's only producer of silicon wafers, will pass into the ownership of SolarWorld AG. After completion of the transaction Bayer AG will hold a stake of 8.5 per cent in the capital stock of SolarWorld AG. At the same time Bayer Solar GmbH will be renamed Deutsche Solar GmbH. The headquarters of the company will remain at Freiberg in Saxony. At the end of the year the new SolarWorld subsidiary will be converted into an AG, i.e. a stock corporation under German law. This conversion into an AG is designed to support Deutsche Solaris strategy of continued expansion. Up to the year 2002 the production of solar wafers at the Freiberg location will be increased from the current 32 Megawatt (MW) to 100 MW. Against the background of a massive 25 per cent annual growth in the photovoltaics market this expansion is a logical step. Deutsche Solar's intention is to further boost its world market share which currently stands at more than 20 per cent. The management of the GmbH (plc) and thus the Executive Board of the future AG will consist of three people. Dipl.-Ing. Frank H. Asbeck, CEO of SolarWorld AG, will also be appointed Chief Executive Officer of Deutsche Solar AG by the Supervisory Board. Professor Dr. Peter Woditsch, formerly with Bayer AG, will be appointed Chief Technical Officer, while Ekhard von Dewitz, previously with Bankgesellschaft Berlin AG, will be appointed Chief Financial Officer. With the integration of Deutsche Solar the SolarWorld Group will go from DM 10 million worth of sales revenue in 1999 to about DM 100 million in the current fiscal year 2000. Contact: SolarWorld AG Investor Relations / Marketing Communications, Frau Sybille Teyke, Tel.-No.: +49 (0) 228 / 559200; Fax No.: +49 (0) 228 / 55920 - 99 E-mail: / Internet: Contact for the business press: Herr Dipl.-Pol. Oliver Ristau, Tel.-No.: 0177 / 678 2705 End ----------------------------------------------------- Internet: Original-Content von: SolarWorld AG, übermittelt durch news aktuell

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