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Conergy has reached agreement with 19 shareholders to waive any legal action against the capital increase

21.09.2008

At the Landgericht Hamburg, Conergy AG reached a legal settlement with 19 shareholders who objected to all resolutions made at the company’s annual general meeting on 28 August 2008 and especially to the resolution approving the capital increase. The settlement includes the publication of certain information about the restructuring measures implemented and the planned capital increase for all shareholders as well as the implementation of a so-called additional subscription rights ("Mehrbezugsrecht") for shareholders. So far only four persons have not given their final opinion to this settlement.

“I hope that we can also include the remaining four people into the settlement, so that we can conclude this critical phase of the capital increase successfully.   The bridge loan for our company from Commerzbank and Dresdner Bank will expire on 30 September. An extension is currently being negotiated with the banks. We assume that – after conceding the agreed amendments– we can hope for the understanding of the critical shareholders as to the existential importance of the capital increase, especially in the interest of the future of the company and its approximately 2000 employees” says Dieter Ammer, CEO of Conergy AG.

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DISCLAIMER

This communication is neither a prospectus nor does it constitute an offer to sell or the solicitation of an offer to purchase the shares or other securities of Conergy AG and it does not substitute the prospectus. Subject to the approval by the German Financial Supervisory Authority a securities prospectus will be published prior to the offer period and made available free of charge by Conergy AG and the coordinators. The shares will be offered exclusively on the basis of the prospectus required to be approved by the German Financial Supervisory Authority.

This communication is not an offer of securities for sale in the United States of America. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”).Any public offering of securities to be made in the United States of America will be made by means of a prospectus that may be obtained from Conergy AG and that will contain detailed information about the company and management, as well as financial statements. Conergy AG does not intend to register any part of the offering in the United States.

The information contained in this communication is not for publication or distribution in or into the United States of America, Canada, Australia or Japan and does not constitute an offer of securities for sale in the United States of America, Canada, Australia or Japan.

Conergy AG Anckelmannsplatz 1 20537 Hamburg
IR Department: Mr. Christoph Marx
Phone: +49 40 271 42 - 1634 Fax: +49 40 271 42 - 1639
investor@conergy.com
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