REC ASA - Tore Torvund joins REC Group Management

Gøran Bye, Executive Vice President in the REC Group, will be leaving the company, with his departure anticipated sometime in February 2009.  Mr. Bye has for more than six years provided leadership to REC Silicon as CFO (2002-2005) and President (2005-present).  He has taken REC Silicon through several critical phases of development, from the acquisition of ASiMI, restructuring of the combined silicon operations and extensive growth and construction of new capacity.  His latest achievement will be the new silicon plant based on the FBR technology.
 
Tore Torvund has been employed as Executive Vice President in the REC Group with the responsibility to lead REC Silicon's operations.   Mr. Torvund will be a member of the REC Group Management Team reporting to REC Group President & CEO Erik Thorsen.
 
Tore Torvund has a Master of Science degree from the Norwegian University of Science and Technology (NTNU).  He has for more than twenty years held senior executive positions in the oil and gas industry.  Mr. Torvund was Executive Vice President responsible for Norsk Hydro's Oil & Gas Division from 2000 until the merger with Statoil in October 2007. In this same period of time, he was a member of Norsk Hydro's Corporate Executive Committee.  
 
After the merger and until October 2008, Tore Torvund was Executive Vice President responsible for the company's operations on the Norwegian continental shelf and a member of StatoilHydro's Corporate Executive Committee. 
 
"I am very pleased that Tore Torvund has accepted to join REC", says Erik Thorsen, the President and CEO of REC.  "With his extensive operational experience from large, international organizations, we strongly believe that he will bring in critical know-how and competencies that are essential to accomplish REC's strong, international growth strategy. I would also like to thank Gøran Bye for his significant contributions to the development and growth of REC Silicon, and wish him all the best in his future endeavors", says Mr.Thorsen.