ARISE Technologies Corporation Signs Four Silicon Wafer Supply Agreements



    
    -   ARISE now has six supply agreements in place with volume to meet
        approximately 80% of its expected 2008 production requirements
    -   New PV cell plant in Germany on schedule for initial production in
        April on Line 1
    -   Line 2 start-up expected in first quarter 2009
    -   Commerzbank AG increases credit facilities with the addition of a
        $14 million inventory purchase line
    

    WATERLOO, ON, March 24 /CNW/ - ARISE Technologies Corporation (TSX: APV
and Frankfurt: A3T), which is dedicated to becoming a leader in
high-performance, cost-effective solar technology, today announced that it has
signed supply agreements with four additional silicon wafer suppliers for
deliveries beginning in 2008. The Company also announced it has entered into
an additional $14 million credit facility agreement with Commerzbank AG to be
used for the purchase of silicon wafer inventory.
    "We now have firm agreements with six wafer suppliers that will meet
approximately 80 percent of our expected 2008 production requirements," said
Bart Tichelman, President and Chief Executive Officer. "We expect that the
balance of our requirements will be met on a high-priority, best-efforts basis
by these six companies. We are continuing discussions with these and other
companies for wafer supply contracts that will cover our requirements in 2008
and beyond. Most of the agreements that we have signed are multi-year supply
commitments.
    "The completion of construction of our new photovoltaic (PV) cell
production plant in Bischofswerda, Germany is on schedule to start initial
production on Line 1 before the end of April. Now that we are confident in our
wafer supply we are working with our equipment suppliers on Line 2, which we
expect to be in production in the first quarter of 2009," Mr. Tichelman said.
"We expect the cells produced on Line 2 to have an efficiency of up to 18%
when the line is fully optimized."

    About ARISE Technologies

    ARISE Technologies Corporation, based in Waterloo, Ontario, is dedicated
to becoming a leader in high-performance, cost-effective solar technology. The
company operates through three divisions. The PV Cell Technology Division is
developing a leading, high-efficiency photovoltaic cell based on proprietary
technology. The division is completing construction of its first manufacturing
plant, located in Bischofswerda, Germany and expects to begin shipping to PV
module makers in April 2008. The PV Silicon Technology Division is focusing on
improving PV cell efficiency to make the technology more cost-effective and is
also working to reduce or eliminate supply constraints. The PV Systems
Division provides complete turnkey PV solutions for solar farms and rooftop
installations under the Ontario standard offer program.
    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, including new photographs showing the German plant's
construction progress, is available at www.arisetech.com. The company's
regulatory filings may be obtained on our website and at www.sedar.com.

    Forward-Looking Statements

    Certain statements in this news release may be considered to be
forward-looking. Such statements are based on management's current
expectations, estimations, and assumptions based on experience, trends, and
other factors that are subject to the significant risks and uncertainties
described in our regulatory filings. Please refer to these. Such risks and
uncertainties may include, but are not limited to, the effects of general
economic conditions, changing foreign exchange rates, actions by government
authorities, uncertainties associated with legal proceedings and negotiations,
industry supply levels, competitive pricing pressures and misjudgments in the
course of preparing forward-looking statements. ARISE assumes no obligation to
update any forward-looking statements or to update the reasons why actual
results could differ from those reflected in the forward-looking statements.

    %SEDAR: 00017494E




For further information:

For further information: ARISE Technologies Corporation, 65 Northland
Road, Waterloo, Ontario, Canada, N2V 1Y8, Dave Chornaby, Chief Financial
Officer, (519) 772-5732, Dave.Chornaby@arisetech.com, www.arisetech.com

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ARISE TECHNOLOGIES CORPORATION

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