LDK Solar Announces Investment in Sunways AG

                 LDK Solar Announces Investment in Sunways AG

PR Newswire

XINYU CITY, China, and SUNNYVALE, Calif., Jan. 3, 2012







XINYU CITY, China, and SUNNYVALE, Calif., Jan. 3, 2012 /PRNewswire/ -- LDK
Solar Co., Ltd. ("LDK Solar"; NYSE: LDK) today announced that it, through its
wholly owned subsidiary, LDK Solar Germany Holding GmbH, has entered into an
investment agreement, dated December 31, 2011, with Sunways AG, a German stock
corporation with its shares listed on the Frankfurt Stock Exchange, to acquire
approximately 33% of Sunways' increased share capital following a capital
increase from its authorized capital.

In the capital increase, LDK Solar will subscribe for a total of 5.79 million
new shares of Sunways to be issued against a cash contribution and
contributions in kind. The issue amount of the shares to be granted against
the cash contribution amounts to a total of euro 2,201,805.50. Simultaneously,
LDK Solar has announced its intention to submit to the Sunways shareholders a
public takeover offer for all outstanding shares in the company. Subject to
the approval of the offer's publication by the Federal Financial Supervisory
Authority (Bundesanstalt fur Finanzdienstleistungsaufsicht – BaFin), the
takeover offer is expected to be published in late January 2012. Under this
offer, a cash consideration of euro 1.90 per share is to be offered to the
Sunways shareholders. Both the capital increase as well as the completion of
the takeover offer must be formally cleared by the Federal Cartel Office
(Bundeskartellamt). Following the clearance under the cartel law, the
completion of the offer is currently expected to occur in the first quarter of
2012.

By way of the capital increase against contributions in kind, Sunways will
acquire the indirect ownership of a company based in China. Through this
China-based subsidiary, Sunways will have access to LDK Solar's module
production plants in China for the further joint development of
high-performance solar modules cost-effectively.

As a part of the arrangements under the investment agreement signed on
December 31, 2011, Sunways and LDK Solar have also agreed to terminate the
formerly existing long-term contract for the supply of wafers by LDK Solar to
Sunways. The wafer supply contract will, however, be reinstated if the capital
increase should fail to be registered with the relevant German governmental
authorities by June 30, 2012.

LDK Solar, despite its investment in Sunways and the takeover offer, has no
intention to cause any delisting of Sunways shares from the Frankfurt Stock
exchange or any other trading forum. Neither does LDK Solar intend to
interfere with the Sunways brand.

Xiaofeng Peng, Chairman, CEO and founder of LDK Solar is convinced of the
prospect of a successful cooperation between LDK Solar and Sunways. "We are
investing in Sunways because we are convinced of the synergies of our two
companies in light of our and Sunways' products and business models. We also
believe in the market potential of the Sunways brand. This is a perfect match
for both sides."

Michael Wilhelm, the Chairman of the Management Board (CEO) of Sunways is also
upbeat on the transaction. "We are happy that we have found in LDK a strategic
anchor investor who shares our vision of the photovoltaic future and with whom
we were able to develop over many years of intensive cooperation a
relationship of trust with the highest appreciation and respect."

About LDK Solar (NYSE: LDK)

LDK Solar Co., Ltd. (NYSE: LDK) is a leading vertically integrated
manufacturer of photovoltaic (PV) products. LDK Solar manufactures
polysilicon, mono and multicrystalline ingots, wafers, cells, modules,
systems, power projects and solutions. LDK Solar's headquarters and principal
manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City,
Jiangxi Province in the People's Republic of China. LDK Solar's office in the
United States is located in Sunnyvale, California. For more information about
LDK Solar and its products, please visit www.ldksolar.com.

About Sunways AG

Since its founding in 1993, Sunways AG, Konstanz/Germany, has evolved into a
technology leader in the photovoltaic industry serving international markets.
With silicon-based solar cells, inverters, solar modules and solar systems,
the company offers all components required for high-yield photovoltaic power
generation, and provides photovoltaic solutions tailored to customers' needs
(transparent and coloured solar cells, building-integrated photovoltaic
installations).

Sunways Production GmbH in Arnstadt/Germany is a subsidiary of Sunways AG; in
addition, the group has branch offices in Barcelona/Spain and Bologna/Italy.
In 2010, Sunways AG with about 340 employees realised sales of around euro 220
million.

The shares of Sunways AG are listed at the Frankfurt Stock Exchange (SWW:GR,
SWWG.DE, ISIN DE0007332207).

For further information, please visit www.sunways.eu/en.

Safe Harbor Statement for LDK Solar

This press release contains forward-looking statements within the meaning of
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact in this press
release are forward-looking statements, including but not limited to, LDK
Solar's ability to raise additional capital to finance its operating
activities, the effectiveness, profitability and marketability of its
products, the future trading of its securities, the ability of LDK Solar to
operate as a public company, the period of time during which its current
liquidity will enable LDK Solar to fund its operations, its ability to protect
its proprietary information, the general economic and business environment and
conditions, the volatility of LDK Solar's operating results and financial
condition, its ability to attract and retain qualified senior management
personnel and research and development staff, its ability to timely and
efficiently complete its ongoing projects, and other risks and uncertainties
disclosed in LDK Solar's filings with the Securities and Exchange Commission.
These forward-looking statements involve known and unknown risks and
uncertainties and are based on information available to LDK Solar's management
as of the date hereof and on its current expectations, assumptions, estimates
and projections about LDK Solar and the PV industry. Actual results may differ
materially from the anticipated results because of such and other risks and
uncertainties. LDK Solar undertakes no obligation to update forward-looking
statements to reflect subsequent events or circumstances, or changes in its
expectations, assumptions, estimates and projections except as may be required
by law.







SOURCE LDK Solar Co., Ltd.

Website: http://www.ldksolar.com
Website: http://www.sunways.eu/en
Contact: CONTACT: Lisa Laukkanen of The Blueshirt Group, +1-415-217-4967,
lisa@blueshirtgroup.com, for LDK Solar; or Jack Lai, Executive VP and CFO of
LDK Solar Co., Ltd., +1-408-245-8801, IR@ldksolar.com
 
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