REC Silicon ASA: Final AD/CVD tariffs against Chinese companies on solar components announced

Fornebu, December 17, 2014:

As the US and China did not reach a suspension agreement in relation to the
trade case filed by SolarWorld in late 2013, on December 16, 2014, the United
States Department of Commerce announced final anti-dumping duty and
countervailing duty (AD/CVD) tariffs on solar components manufactured in China
and Taiwan and imported into the US.  These new AD/CVD orders do not apply to
REC Silicon.

REC Silicon's solar grade polysilicon exports to China have been subject to a
final AD tariff of 57% since January 2014. However, REC Silicon has continued to
sell solar grade polysilicon into China by working with customers to utilize the
Process in Trade under Chinese customs laws. On August 14, 2014, MOFCOM issued a
notice that Process in Trade would be suspended.  To date, the effect of this
suspension notice has not yet had a substantial impact on REC Silicon.

Earnings from FBR polysilicon will be negatively affected in the short term

Changes in the availability of the Process in Trade for US solar grade
polysilicon exports to China will have a negative effect on REC Silicon's
earnings and cash flows in the short term; however, REC Silicon's financials
will remain strong.
REC Silicon's fourth quarter 2014 operations are anticipated to be broadly in
line with the guidance given on November 4, 2014. Fourth quarter 2014 revenues
will be negatively impacted by the current sales strategy, which is focused on
maintaining sales volumes at slightly discounted prices compared to market
prices. Accordingly, the company expects fourth quarter 2014 EBITDA will be
approximately 35 million - 40 million USD.  Further details will be provided as
part of the 2014 fourth quarter release on February 13, 2015.

Less than half of REC Silicon's earnings are affected by the AD tariff/the
Process in Trade

Revenue and cash flow associated with sales of semi-conductor grade polysilicon
and silicon gases are not subject to the AD tariff; and therefore, any change in
the availability of the Process in Trade will not have an impact on them.

During the first nine months of 2014, 45 percent of REC Silicon's revenues were
derived from sales of solar grade polysilicon to China. Of the total 12,259 MT
of polysilicon (granular and Siemens) sold, 69 percent was solar grade
polysilicon sold to China.

REC Silicon can continue to meet all its financial obligations from current
operations

REC Silicon's cash balance at the end of third quarter 2014, less the capital
contribution to the Yulin JV paid in October, was 85 million USD.  In addition,
the company expects to have a positive cash contribution from operations. The
company has no major financial commitments due in 2015.  The next scheduled debt
maturity obligations are 235 million NOK and an estimated 200 million NOK for
the indemnity loan, both due in 2016. Additionally, a 300 million NOK bond and a
110 million USD convertible bond are due in 2018. The schedule of capital
contributions for the Yulin JV requires REC Silicon to make payments of 15
million USD in 2016 and 154 million USD in 2017.

The impact will be reduced over time
While resolution of the US/China solar trade dispute is pending, the company
will actively work to mitigate the impact of the 57% duty, if the availability
of the Process in Trade changes.  Initiatives will include expanding REC
Silicon's customer base outside of China and utilizing other opportunities,
which management is currently evaluating, including to sell solar grade
polysilicon in a manner that would not be subject to the AD tariff.  REC Silicon
will implement cost reduction initiatives and capital expenditure reduction
measures to preserve the company's financial strength.

REC Silicon will monitor the situation closely and will continue to work to
reduce the negative impacts of the US/China solar trade war. Although the timing
and potential outcome of these efforts remain uncertain, REC Silicon is
confident that the trade dispute will be resolved in due course.

REC Silicon will host a conference call today at 08:15 a.m. CET. Please make
sure to dial in at least five minutes ahead of time to complete your
registration.

Local - Oslo, Norway :  +47 2316 27 71

Local - London, United Kingdom :  +44 (0)20 3427 1914

Local - New York, United States of America :  +1 212 444 0481

International Toll:  +44 (0)20 3427 1914


Please provide confirmation code 1503011 and state your name, company and
country of residence.


Recording of the conference call will be available through replay as well as on
www.recsilicon.com.

Replay Passcode:  1503011

Local - London, United Kingdom:  +44 (0)20 3427 0598

Local - New York, United States of America:  +1 347 366 9565

Local - Oslo, Norway:  +47 2100 0498

International Toll:  +44 (0)20 3427 0598


For further information, please contact:


Mitra H. Negård, Investor Relations
REC Silicon ASA
Phone: +47 957 93 631
Email: mitra.negard@recsilicon.com

James May, CFO
REC Silicon ASA
Phone: +1 509 989 1023
Email: james.may@recsilicon.com

Tore Torvund, CEO
REC Silicon ASA
Phone: +1 509 855 8923
Email: tore.torvund@recsilicon.com

About REC Silicon
REC Silicon is a leading producer of advanced silicon materials, delivering
high-purity polysilicon and silicon gas to the solar and electronics industries
worldwide. We combine 25 years of experience and proprietary technology with the
needs of our customers, and annual production capacity of more than 20,000 MT of
polysilicon from our two US-based manufacturing plants. Listed on the Oslo Stock
Exchange (ticker: REC), the company is headquartered in Moses Lake, Washington
and employs 710 people.

For more information: www.recsilicon.com

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.


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