First quarter 2012 dominated by political discussion, positive EBIT despite further price erosion. Press Release on May 10, 2012

In the first quarter of 2012 Solar-Fabrik AG (ISIN: DE0006614712) reached a revenue of ca. 19.1 million euros (Q1 2011: 36.9 million euros), of which ca. 1.5 million euros (2011 0 million euros) resulted from the sale of a solar park in the new installation business. The revenue decrease is predominantly price driven, whereas the price erosion is mostly provoked by the most recent changes of the German feed-in-tariff (FIT) regulation. Concurrently the company was able to improve the gross margin from 12.4 percent in Q1 2011 to ca. 18.1 percent in Q1 2012. This lead to a Q1 2012 EBIT of 1.5 million euros (Q1 2011: -0.4 million euros) and a net result of 1.3 million euros (Q1 2011: -0.9 million euros).

In the beginning of 2012 the political discussions about the feed-in tariff and the cost of renewable energy dominated the business environment. While January and February were mostly export driven the German demand recovered in March driven by pull-in effects from the mid February discussion about additional FIT reductions.

The quarterly financials for the period from January 1 through March 31, 2012, is available on the company homepage.

For further information:

Contact:

Investors Relations

Tel.: +49 761 4000-0, Fax: +49 761 4000-199

e-mail: investor(at)solar-fabrik.de

Solar-Fabrik Aktiengesellschaft für Produktion und Vertrieb von solartechnischen Produkten, Munzinger Strasse 10, 79111 Freiburg

ISIN: DE 000 661 471 2

Stock markets: Regulated Market/Prime Standard Segment of Frankfurt Stock Exchange

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