EANS-Adhoc: PNE WIND AG negotiates convertible bond and plans increase in capital

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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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18.06.2009

Cuxhaven, June 18, 2009 - The Board of Directors and the Supervisory Board of
the wind-farm developer PNE WIND AG (ISIN: DE000A0JBPG2) today resolved the
issue of a convertible bond of a nominal amount of up to 37.5 mill. Euro and an
increase of capital from approved capital to the amount of up to 10% of the
current original capital. With the increase in capital, the original capital of
the company will rise to up to 45,402,462 Euro. If the convertible bond is
completely placed and the capital is increased completely, the flow of funds to
the company will amount to about 45.3 mill. Euro.

The convertible bonds will be issued at a price of 100% and provide for a
conversion price of 2.50 Euro per share acquired in future by exercising of the
right of conversion. The subscription price for a new share from the increase in
capital amounts to 1.90 Euro.

The existing shareholders will be granted a subscription right for both issues.
The subscription period is planned for the period from June 24, 2009 until July
08, 2009. Trading in subscription rights is not planned. Convertible bonds not
purchased by the shareholders and also new shares not subscribed are to be
offered to selected investors by way of a private placement.

The objective of the two capital measures is to finance the further growth of
the internationally active PNE WIND AG. With the flow of funds, the company
wishes to create additional leeway in order to further the corporate strategy of
the development and financing of wind-farm projects in Germany and abroad on
land (onshore) and at high sea (offshore). The company is being accompanied in
these capital measures by the Close Brothers Seydler Bank AG.

< End of the ad-hoc report >

end of ad-hoc-announcement
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Explanatory text:

Martin Billhardt, Chairman of the Board of Directors of the company, explains
the backgrounds to the procedure: "We wish to grow even further! With the help
of the planned capital measures, we are creating the financial basis for a
further acceleration of the expansion course which PNE WIND AG has already
started. Precisely in the current environment, market changes can open at short
notice." The Board of Directors particularly emphasises the promising market
position of the company. "We fulfil all the preconditions in order to profit
from the future rise in importance of wind energy in a lasting way. Our project
pipeline is well filled and, with an equity quota of 36%, we have very robust
financing. In addition, PNE WIND AG is already acting on a series of
international future markets, for example the USA. We wish to improve this
strong position even further in future, for which the planned capital measures
are an important step."

In the company's opinion, the framework conditions for wind energy are still
favourable, with the result that implementation of the capital measures at the
present time makes early setting of the points for a continued positive
development of the company possible. Current branch studies expect world-wide
new installations with an output of 82 GW per year and a turnover potential of
around 82.5 billion € per year for 2020. Accordingly, the long-term growth
pushers of the wind branch, such as the finite nature of fossil resources or the
effects of the climate change, remain intact despite the current economic
situation.

The granting of a subscription right also means that the shareholders' rights
are considered. "Our shareholders are given the opportunity of participating in
the further success of the company," is the comment on the terms given by the
Chairman of the Board of Directors, Martin Billhardt. In addition, new investor
groups are to be developed in the course of a private placement with the
convertible bond and shares not issued to existing shareholders.

Further inquiry note:
PNE WIND AG
Presse- und Öffentlichkeitsarbeit
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]

end of announcement                               euro adhoc 
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emitter:      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
indexes:      CDAX, Prime All Share, Technologie All Share
stockmarkets: Open Market: Hamburg, Stuttgart, Hannover, München, regulated
              dealing/prime standard: Frankfurt, free trade: Berlin, Düsseldorf 
language:     English

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