EANS-Adhoc: Action against PNE WIND AG for reversal of the sale of its stake in SSP Technology A/S in 2008

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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16.10.2009

Cuxhaven, October 16, 2009 - An action has been brought against PNE WIND AG by
SSP Technology Holding ApS, which purchased the PNE WIND AG 67.26% stake in SSP
Tech-nology A/S in July 2008 following the conclusion of a share purchase
agreement with Ventizz Ltd. The main object of the case being brought before
Stade District Court is the reversal of sale of the majority stake in SSP
Technology A/S previously held by PNE WIND AG. The plaintiff is demanding that
PNE WIND AG repay it not only the purchase price of approx. EUR34.54 million,
but also a further EUR19.74 million for other expenses, i.e. a total of approx.
EUR54.28 million. The claim brought is based largely on the alleged errors in
the corporate planning for SSP Technology A/S submitted during contract
negotiations. In the alternative, the plaintiff is demanding a payment of
approx. EUR8.64 million for an alleged breach of a war-ranty relating to SSP
Technology A/S accounts agreed in the share purchase agreement con-cluded in
June 2008.

The firm position of the PNE WIND AG board of directors is that the action is
unfounded and therefore unlikely to succeed. This is also the view taken by the
legal advisors and auditors called in by PNE WIND AG in his first, preliminary
assessment. The PNE WIND AG's view of the case means that the action will not
have a significant effect on the results for the current business year. As the
situation currently stands, provisions are only to be built up to cover legal
costs.

End of ad hoc news

Further inquiry note:
PNE WIND AG
Public Relations
Rainer Heinsohn
Tel: +49(0) 47 21 - 7 18 - 4 53
Fax: +49(0) 47 21 - 7 18 - 3 73
E-mail: [email protected]

Investor Relations
cometis AG
Ulrich Wiehle / Dirk Stauer
Tel: +49(0)611 - 205855-11

Fax: +49(0)611 - 205855-66 
E-mail: [email protected]
Ende der Mitteilung                               euro adhoc 
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issuer:   PNE Wind AG
          Peter-Henlein-Str. 2-4
          D-27472 Cuxhaven
phone:    +49(0)4721 718 06
FAX:      +49(0)4721 718 373
WWW:      http://www.pnewind.com
sector:   Alternative energy
ISIN:     DE000A0JBPG2, DE000A0B9VG7, DE000A0Z1MR2, DE000A0B9VG7
indexes:  CDAX, Prime All Share, Technologie All Share

stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, Hannover, München
language: English

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