Solar Millennium expecting significant increases in turnover and results for the current and upcoming fiscal years

Erlangen, May 23, 2007 - Solar Millennium AG is expecting significant increases in both its turnover as well as its overall results for the current 2006/2007 fiscal year (closing on October 31st). The board of directors are therefore confident that, compared to the previous year, turnover will increase by over 80% to approx. €33 million. Furthermore, compared with the previous year, profits will increase by approx. 20% to about €12 million. For the upcoming 2007/2008 fiscal year, the board of directors is expecting the turnover to triple and the profit to double as compared to the current fiscal year.

Forecast figures for the fiscal year in progress are based on accounting for performed project development services within the framework of the financing for the Andasol 2 and 3 projects. Also included are the sales of shares to the corresponding project companies. Additional revenue has been generated in the technology business sector stemming from the commissioning of Flagsol GmbH to supply engineering and project management for the Andasol 1 and 2 power plant projects.

"By specializing in solar-thermal power plants and striving as pioneers in this market, we have become a well-positioned leader, producing excellent turnover and results," reports a pleased Christian Beltle, Chairman of the Board of Solar Millennium AG. "We will continue to expand on this role through a clear strategy for further growth. One of our main objectives is to increase our presence in the United States as well. To this end, we are cooperating with well-known companies during the proposal submittal process regarding tenders for bid," explained Beltle.

In addition to the project development, project financing and technology business sectors, the company is also for the first time planning on revenue for the upcoming fiscal year in the field of power plant construction. In this sector, Solar Millennium founded a joint venture with MAN Ferrostaal Power Industry GmbH in early May 2007. The objective is to establish the joint venture as the number one leading supplier of solar-thermal power plants worldwide. The turnover and future results of the company - MAN Solar Millennium GmbH - will in the future be proportionately incorporated (with 50%) into the consolidated financial statements.

About Solar Millennium AG:
Solar Millennium AG is a globally active project development and technology company in the renewable energy sector. Together with subsidiaries and partners, Solar Millennium AG projects and realises solar thermal power plants. It has specialized in two technologies for these large-scale solar power stations. It is the technology provider for parabolic trough power plants, a proven and reliable technology in which the company occupies a top position worldwide. Apart from this, the company develops solar chimney power plants with the objective of also achieving market maturity. The focal areas of current projects are Spain, the USA, China and North Africa.

About the technology:
Solar thermal power plants generate electricity using the heat energy captured from solar radiation. In a parabolic trough power plant, trough-shaped mirrors concentrate the sun rays onto a pipe in the focal line of the collector. Through their absorption a heat transfer fluid is heated in the pipe, generating steam in the power block by way of heat exchange. As with conventional power stations, the steam is used in a turbine to generate power, which can be provided according to plan by integrating a thermal storage. Therefore, the solar power plants can also generate electricity after sunset.