Plambeck Neue Energien AG completes restructuring

Cuxhaven, 26. November 2007 - The wind farm developer Plambeck Neue Energien AG (ISIN: DE000A0JBPG2) in Cuxhaven has completed its restructuring plan following the first upfront payment of Evelop from the sale of shares in the Offshore wind farm company PNE Gode Wind I GmbH ant the financial closure on the wind farm project in Langwedel.

Restructuring measures enabled existing credit totalling approximately 18.8 million euros to be shorn back as early as the end of 2006 and the granting of a new credit line totalling approximately 4.3 million euros in the 3rd quarter of 2007 to be redeemed. The liquidity of Plambeck New Energien AG on 26 November 2007 totals approximately 30 million euros.

Restructuring measures also entailed the company focusing on its core business of wind farm projects in Germany; projects of about 400 MW onshore and around 2,700 MW offshore being currently in the pipeline. In the future wind farm development of Plambeck Neue Energien AG again will become international. Projects are planned in Hungary (project pipeline of 260 MW), Bulgaria (250 MW) and Turkey (450 MW).

Plambeck Neue Energien AG expects earnings before interests and taxes (EBIT) in the magnitude of between 15 and 16 million euros for 2007 after 0.3 million euros in the previous year.