REC ASA - Options Issued

Kjørbo, May 20, 2008: According to the resolution adopted by the
Annual General Meeting on May 19, 2008, 617 216 options were issued
yesterday for executive management and key personnel. The options
have an exercise price of NOK 178.59 and a life of 6 years, and may
be exercised in the last three years. The total number of options
issued is 617 216.

The List of primary insiders included in this transaction:


+----------------------------------------------------------------+
|       Name       | Options allocated | Total number of options |
|                  |   May 20, 2008    |                         |
|------------------+-------------------+-------------------------|
|   Erik Thorsen   |      29 779       |         29 779          |
|------------------+-------------------+-------------------------|
|   Bjørn Brenna   |      25 507       |         25 507          |
|------------------+-------------------+-------------------------|
| Ingelise Arntsen |      25 507       |         25 507          |
|------------------+-------------------+-------------------------|
|   Einar Kilde    |      24 064       |         24 064          |
|------------------+-------------------+-------------------------|
|    Gøran Bye     |      22 558       |         22 558          |
|------------------+-------------------+-------------------------|
| John Andersen jr |      20 123       |         20 123          |
|------------------+-------------------+-------------------------|
|    Erik Sauar    |      17 145       |         17 145          |
|------------------+-------------------+-------------------------|
| Svànaug Bergland |      15 641       |         15 641          |
|------------------+-------------------+-------------------------|
| Jon André Løkke  |      11 731       |         11 731          |
+----------------------------------------------------------------+



For more information, please contact:
Jon André Løkke, SVP and Investor Relations Officer, Tel: +47 907
44 949



About REC
REC is uniquely positioned as one of the most integrated company in
the solar energy industry. REC Silicon and REC Wafer are the world's
largest producers of polysilicon and wafers for solar applications.
REC Solar produces solar cells and solar modules and engage in
project development activities in selected segments of the PV market.
REC Group had revenues in 2007 of NOK 6,642 million and an operating
profit of NOK 2,588 million. Please also see www.recgroup.com