DISCLOSURE OF LARGE SHAREHOLDING

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 21st July 2015 Morgan
Stanley & Co. International plc ("MSIP") disposed of
38,397,453 shares of the Company. Following the
disposal, MSIP no longer has a notifiable interest in
the shares of the Company due to the application of
the exemption available under Section 4-4 (2) of the
Norwegian Securities Trading Regulations.

In addition and as at the same date, Morgan Stanley &
Co. LLC held an interest of 71,455,216 shares, being
approximately 3.09% 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
71,459,216 shares being approximately 3.09% of the
issued share capital of the Company and therefore no
longer holds a notifiable interest in the 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).