Yingli Green Energy Signs Five New Sales Contracts in Korea

July 8, 2008 7:00 AM EDT

BAODING, China--(BUSINESS WIRE)--

Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), one of the world's leading vertically integrated photovoltaic ("PV") product manufacturers, today announced that it has entered into five new sales contracts to supply an aggregate of more than 7 MW of PV modules to five companies in Korea. All modules will be used in projects located in Korea.

Customers that signed these contracts include LG CNS Co., Ltd., DMS Co., Ltd., Hyosung Corporation, Nam Jung Energy Co., Ltd. and Kaycom Corp, to which Yingli Green Energy will supply PV modules during the third quarter of 2008.

"We are pleased with the success that we have had so far in building our business in Korea and these new contracts clearly demonstrate continued progress in extending our global presence," commented Mr. Seok Jin Lee, Chief Operating Officer of Yingli Green Energy. "In a relatively short period of time, we have been able to develop good relationships with reputable companies in Korea. Our strong brand in other established markets has given us a solid starting point and we believe these contracts will further build customer confidence in the region. We are confident that Korea will develop into an exciting emerging solar market on the back of strong demand and favorable feed-in tariffs. As we continue to promote our products in new markets around the world, we will always remain deeply committed to further solidifying relationships with our existing customers."

About Yingli Green Energy

Yingli Green Energy Holding Company Limited is one of the world's leading vertically integrated PV product manufacturers. Through the Company's principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd., Yingli Green Energy designs, manufactures and sells PV modules and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or those that operate on a stand-alone basis. With 200 MW of total annual production capacity in each of polysilicon ingots and wafers, PV cells and PV modules, Yingli Green Energy is currently one of the largest manufacturers of PV products in the world as measured by annual production capacity. Additionally, Yingli Green Energy is one of a limited number of large-scale PV companies in the world to have adopted a vertically integrated business model. Yingli Green Energy currently plans to expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 400 MW by the end of 2008 and to 600 MW by mid-2009. Yingli Green Energy sells PV modules under its own brand name, Yingli Solar, to PV system integrators and distributors located in various markets around the world, including Germany, Spain, Italy, China and the United States. For more information, please visit www.yinglisolar.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yingli Green Energy's control, which may cause Yingli Green Energy's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in Yingli Green Energy's filings with the U.S. Securities and Exchange Commission. Yingli Green Energy does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

Source: Yingli Green Energy Holding Company Limited

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