Another Arise Germany element files for insolvency

ARISE Technologies Corporation (TSX: APV and Frankfurt: A3T) has voluntarily filed to place its wholly-owned German subsidiary, ARISE Technology Centre GmbH, into structured insolvency.

November 11, 2011 — ARISE Technologies Corporation (TSX: APV and Frankfurt: A3T) has voluntarily filed to place its wholly-owned German subsidiary, ARISE Technology Centre GmbH, into structured insolvency, just one month after ARISE Technologies Deutschland GmbH, went into structured insolvency.

The German court is expected to assign an insolvency manager for the Technology Centre to work with ARISE management during the transition period. Proceedings are expected to follow a similar process to that which is currently underway at ARISE?s Bischofswerda facility.

ARISE continues to work with its financial advisor, Canaccord Genuity, and will continue to provide regular updates to its shareholders on the progress of the Company?s negotiations in relation to the proposed business combination.

ARISE Technologies Corporation, based in Waterloo, Ontario, is dedicated to becoming a leader in high-performance, cost-effective solar technology. The company consists of three divisions: PV cell manufacturing, PV silicon, and PV systems division. The company?s shares are listed on the Toronto Stock Exchange under the symbol APV and on the Frankfurt Open Market Exchange under the symbol A3T. Additional information is available at www.arisetech.com and www.sedar.com.

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