REC ASA - Primary insider transaction

Sandvika, July 29, 2009; With reference to the rights issue announced
on May 19, 2009, the following primary insider have been allocated
shares in accordance with the principles set out in the prospectus
after oversubscribing relative to the number of subscription rights
received in the transaction.

Primary insider Kristine Ryssdal (Senior Vice President - CLO) has
subscribed to 174 new shares according to all the subscription rights
received. In addition to rights received, Ms. Ryssdal was allocated 6
shares through the allotment process. After this transaction, Ryssdal
and related parties hold 685 shares and 20,454 options in REC.


About REC
REC is the leading vertically  integrated player in the solar  energy
industry. REC Silicon  and REC  Wafer are among  the world's  largest
producers of polysilicon and wafers  for solar applications, and  REC
Solar is a rapidly growing  manufacturer of solar cells and  modules.
REC Group had revenues of NOK  8,191 million and an operating  profit
of NOK 2,529  million in 2008.  About 2,500 employees  work in  REC's
worldwide organization. Please also see www.recgroup.com.

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DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE
                           UNITED STATES:

This press release does  not constitute or form  part of an offer  or
solicitation to purchase  or subscribe for  securities in the  United
States. The securities referred to herein may not be offered or  sold
in the  United  States  absent  registration  or  an  exemption  from
registration as  provided in  the  U.S. Securities  Act of  1933,  as
amended. The Company does not intend  to register any portion of  the
offering of  the securities  in the  United States  or to  conduct  a
public offering of  the securities  in the United  States. Copies  of
this announcement are not  being made and may  not be distributed  or
sent into the United States, Australia, Canada, Hong Kong or Japan.


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