LDK Solar Provides Business Update

XINYU CITY, China and SUNNYVALE, Calif., July 2 /PRNewswire-FirstCall/ -- LDK Solar Co., Ltd. (NYSE: LDK), a leading manufacturer of multicrystalline solar wafers, today provided an updated outlook for the second quarter ended June 30, 2009. For the second quarter of 2009, LDK Solar estimates shipments between 220 and 230 megawatts ("MW"). This compares to its previously issued guidance for the second quarter of 2009 of wafer shipments in the range of 200 to 220 MW. The company expects to record between $215 and $225 million in revenues.

LDK Solar additionally provided an update on its financing activities. The company secured a loan in the aggregate principal amount of RMB 500 million (equivalent to approximately US$73 million), with a term of one year, from The Export-Import Bank of China. The company also secured a loan in the aggregate principal amount of RMB 500 million (equivalent to approximately US$73 million), with a term of three years, from Huarong International Trust Co., Ltd. to support LDK Solar's polysilicon plant construction. Huarong International Trust Co., Ltd. is a state-controlled company permitted under the relevant PRC laws and regulations to provide enterprises with financing facilities. LDK Solar had a healthy cash position of more than $250 million and pledged bank deposits and time deposits of more than $170 million as of June 30, 2009.

"During the second half of the second quarter, our wafer shipments were driven by stronger than expected demand," stated Xiaofeng Peng, Chairman and CEO of LDK Solar. "Our annualized wafer capacity at June 30, 2009 reached 1.5 gigawatts ("GW"). We are encouraged by the recent improvement in market demand and expect to resume the expansion of our wafer plant with the goal of reaching 2.0 GW annualized wafer capacity by the end of 2009."

"The construction of our polysilicon plant continues to remain on schedule. The second train is targeted to reach mechanical completion in the third quarter of this year and the third train is expected to reach mechanical completion in the first quarter of 2010. We are very pleased to receive continued financial support for our growth plans from our local banks and view this as a testament to the promising future of the solar industry in China," concluded Mr. Peng.

This outlook for the three months ended June 30, 2009 is an estimate. Results are subject to change based on further review by the management. LDK Solar plans to report its full second quarter 2009 results in mid-August 2009. Once the reporting date is finalized, LDK Solar will issue a press release announcing the date and details of its second quarter conference call.

LDK Solar Reaches 1.0 GW Production Milestone

XINYU CITY, China and SUNNYVALE, Calif., Aug. 25 /PRNewswire-FirstCall/ -- LDK Solar Co., Ltd ("LDK Solar"; NYSE: LDK), a leading manufacturer of solar wafers, announced today that the company held a ceremony celebrating its wafer plant reaching the milestone of 1.0 GW annualized capacity. This event was hosted by Mr. Xiaofeng Peng, Founder, Chairman and CEO in Xinyu, China on August 23, 2008.

"I would like to congratulate our team on their remarkable speed in expanding wafer production capacity and their success in reaching the 1.0 GW milestone ahead of schedule," commented Chairman Peng. "We are pleased to achieve one of the fastest capacity ramps within the solar industry as we expand our production capabilities to meet the continued strong demand from our growing global customer base."

"We are proud to reach this significant milestone and remain confident in our ability to expand to 1.2 GW wafer capacity by the end of 2008. This achievement demonstrates our continued commitment to becoming the largest and lowest cost wafer producer in the solar industry," concluded Mr. Peng.

LDK Solar's 1.0 GW production capacity is in line with the company's publicly announced plans to reach a target annualized wafer production capacity of up to 1.2 GW by the end of 2008, 2.2 GW by the end of 2009 and 3.2 GW by the end of 2010.

In addition, the company today provided the following preliminary outlook for 2009.



2009 Financial Outlook:

* Revenue: Between $2.8 billion and $3.0 billion
* Wafer shipments: Between 1.45 GW to 1.55 GW

LDK Solar Awards Applied Materials $220 Million Contract

XINYU CITY, China and SUNNYVALE, Calif., Aug. 19 /PRNewswire-FirstCall/ -- LDK Solar Co., Ltd, a leading manufacturer of solar wafers, awarded a US$220 million contract to Applied Materials, Inc. to provide precision wafering systems to support its next phase of production expansion. The systems are scheduled to begin shipping to LDK Solar's facility in Xinyu, PRC, in early 2009, and will support LDK Solar's previously announced plans to expand to 3.2GW annualized wafer capacity in 2010.

"We believe that Applied's state-of-the-art wafering systems, including its HCT wire saws and squarers, are the best choice to help us scale up capacity to meet the expanding global demand for wafers," stated Mr. Xiaofeng Peng, Chairman and CEO of LDK Solar. "We have used HCT wire saws since the beginning of our manufacturing operations in 2006, and they have continued to demonstrate the performance necessary to deliver high-quality, cost-effective wafers to our customers."

"We are very pleased to be selected by LDK Solar for this milestone agreement -- the largest contract ever awarded for wafering systems," said Stefan Schneeberger, vice president and general manager of Applied's Precision Wafer Systems division. "LDK Solar is known for its advanced wafer production capability and Applied Materials is committed to providing LDK Solar with the leading-edge technology to meet its most critical performance equirements."

GT Solar Tries to Ease Market Fears

GT Solar International, Inc. (NASDAQ: SOLR) today issued the following statement concerning the announcement by LDK Solar that it has signed a contract to purchase JYT multicrystalline and monocrystalline furnaces. According to the announcement, LDK Solar has been granted the exclusive right by JYT to purchase furnaces for the contract period, which extends through 2010.

Bob Woodbury, chief financial officer for GT Solar International, Inc. made the following statement.

“This announcement by LDK does not in any way impact GT Solar’s backlog, nor do we believe it will have any effect on our internal targets or projections. In fact, LDK Solar’s total orders represent less than 20 percent of our current backlog. Moreover, LDK’s furnace orders represent less than eight percent of our current backlog.

“Additionally, GT Solar has and will continue to diversify its customer base. LDK Solar remains an important customer, and we continue to negotiate with them for future equipment needs related to multicrystalline furnaces and silicon reactors.”

The stock continued to plummet to $12.08 Monday after last weeks IPO high of $17.00