Primary insider transaction

Sandvika, June 03, 2010: Primary insider Roar Engeland (Board member in REC) has today through a wholly-owned company purchased 87,161 shares in Renewable Energy Corporation ASA (REC) at an average price of NOK 15.50 per share. After this transaction Mr. Engeland and related parties holds 150,000 shares and 0 share options in the company.

About REC
REC is a leading vertically integrated player in the solar energy industry. REC is among the world's largest producers of polysilicon and wafers for solar applications, and a rapidly growing manufacturer of solar cells and modules. REC is also engaged in project development activities in selected PV segments. Founded in Norway, REC is an international solar company, employing more than 3,000 people worldwide. REC had revenues in excess of NOK 9 billion in 2009.  Please visit www.recgroup.com to learn more about REC.

This information is subject of the disclosure requirements acc. to ยง5-12 vphl (Norwegian Securities Trading Act)