DISCLOSURE OF LARGE SHAREHOLDING IN REC SILICON ASA ("the Company") UNDER SECTION 4 OF THE SECURITIES TRADING ACT

This notification relates to the ordinary shares and
voting rights (the "shares") of the Company.

We hereby notify you that on 14th July 2015 Morgan
Stanley & Co. International plc acquired an interest
in 76,477,645 shares of the company. Following the
acquisition, Morgan Stanley & Co. International plc
held a total interest in 135,818,014 shares, being
approximately 5.87% of the issued share capital of
the Company.

In addition and as at the same date, Morgan Stanley &
Co. LLC held an interest of 63,905,413 shares, being
approximately 2.76% of the issued share capital of
the Company and Morgan Stanley Smith Barney LLC held
an interest of 4,000 shares, being approximately
0.00% of the issued share capital of the Company.

As a result Morgan Stanley held a total interest of
199,727,427 shares being approximately 8.63% of the
issued share capital of the Company and now holds a
notifiable interest in the Company.

Morgan Stanley & Co. International plc is a direct
holder and is a subsidiary of Morgan Stanley
Investments (UK). Morgan Stanley Investments (UK) is
an indirect holder and is a subsidiary of Morgan
Stanley UK Group. Morgan Stanley UK Group is an
indirect holder and is a subsidiary of Morgan Stanley
Group (Europe). Morgan Stanley Group (Europe) is an
indirect holder and is a subsidiary of Morgan Stanley
International Limited. Morgan Stanley International
Limited is an indirect holder and is a subsidiary of
Morgan Stanley International Holdings Inc. Morgan
Stanley International Holdings Inc. is an indirect
holder and is a subsidiary of the beneficial owner
Morgan Stanley (parent company).

Morgan Stanley & Co. LLC is a direct holder and is a
subsidiary of Morgan Stanley Domestic Holdings, Inc.
Morgan Stanley Domestic Holdings, Inc. is an indirect
holder and is a subsidiary of Morgan Stanley Capital
Management, LLC. Morgan Stanley Capital Management,
LLC is an indirect holder and is a subsidiary of the
beneficial owner Morgan Stanley (parent company).

Morgan Stanley Smith Barney LLC is a direct holder
and is a subsidiary of Morgan Stanley Smith Barney
Holdings LLC. Morgan Stanley Smith Barney Holdings
LLC is an indirect holder and is a subsidiary of
Morgan Stanley Domestic Holdings, Inc. Morgan Stanley
Domestic Holdings, Inc. is an indirect holder and is
a subsidiary of Morgan Stanley Capital Management,
LLC. Morgan Stanley Capital Management, LLC is an
indirect holder and is a subsidiary of the beneficial
owner Morgan Stanley (parent company).