Reasoned Opinion of REpower Systems AG

Hamburg, Germany [] The supervisory board and management board of REpower Systems AG recently published a joint reasoned opinion concerning the increased takeover offer of Suzlon Windenergie GmbH, which was submitted to REpower earlier this month, and the alteration of the AREVA offer a week later. Suzlon as well as AREVA are appropriate strategic partners for the accelerated growth in the international wind energy industry. The supervisory board and management board approve AREVA’s waiver of the minimum acceptance conditions of more than 50 percent, because the transaction safety and comparability of both offers will be increased for the shareholders. As this formal alteration happened within the last two weeks before the expiration of the offer deadline for the submission of quotations, the term of acceptance for both offers was extended to May 4, 2007, 12.00 a.m.


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