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EANS-News: aleo solar AG
aleo solar AG´s Management Board and Supervisory Board back takeover offer from Robert Bosch GmbH

Prenzlau/Oldenburg (euro adhoc) -

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Company Information/Joint statement of the Management Board and the 
Supervisory Board
The Management Board and
Supervisory Board of aleo solar AG today issued a joint statement 
pursuant to Section 27 of the German Securities Acquisition and 
Takeover Act (WpÜG) on the voluntary public takeover offer submitted 
by Robert Bosch GmbH on August 31, 2009. Robert Bosch GmbH has made 
an offer to the shareholders of aleo solar AG for the acquisition of 
all shares of aleo solar AG at a cash price of EUR 9.00 per share.
After examining the offer document, the Management Board and 
Supervisory Board deem the consideration of EUR 9.00 per share 
offered by Robert Bosch GmbH fair. This view is supported by the 
fairness opinion prepared by SUSAT & Partner OHG, the independent 
audit firm engaged by aleo solar AG. The Management Board and 
Supervisory Board were also advised by the investment bank Jefferies 
International Ltd. and Freshfields Bruckhaus Deringer LLP.
The Management Board and Supervisory Board consider the offer to be 
in the interests of aleo solar AG as a business. aleo has positioned 
itself as a premium brand and built up strong sales. The Bosch Group 
believes these activities ideally complement its current activities 
in the field of renewable energy. In the opinion of the Management 
Board and Supervisory Board, this alliance will provide a sound basis
for successfully continuing aleo´s growth course of recent years. The
Management Board and Supervisory Board welcome the offeror's declared
willingness to contribute its financial strength, resources for the 
development of new technologies, experience in high-precision mass 
production, international distribution channels and, last but not 
least, its reputation, and expect these factors to strengthen aleo 
solar AG.
In this context, the Management Board and Supervisory Board refer to 
the offer conditions set out in the offer documentation released by 
Robert Bosch GmbH. Among other things, these include clearance of the
takeover under merger control regulations and a minimum acceptance 
threshold of at least 75%. Please refer to section 12.4 of the offer 
document for more information on the offer terms.
The Management Board and Supervisory Board believe that the 
consideration offered by Robert Bosch GmbH is fair within the meaning
of Section 31 (1) WpÜG and that the offer is in the interests of the 
company. They therefore unanimously back the offer and recommend that
the shareholders of aleo solar AG accept it.
It is at the sole discretion of the shareholders of aleo solar AG to 
accept or reject the offer, taking into account the overall 
circumstances and their individual circumstances and their assessment
of the potential for the future performance of the company´s shares. 
Both the acceptance and the rejection of the offer may have 
disadvantages for the shareholders of aleo solar AG that are 
explained in the joint statement of the Management Board and 
Supervisory Board.
The joint statement issued by the Management Board and Supervisory 
Board of aleo solar AG is available on the Company's website at 
http://www.aleo-solar.de. It can also be requested free of charge by 
phone (+49 (0) 441 - 21988 - 770), fax (+49 (0) 441 - 21988 - 690), 
or email (invest@aleo-solar.de).

Further inquiry note:

Franz Nieper
Investor Relations, Legal & Compliance
Tel.: +49 (0)441-21988-770
E-Mail: Invest@aleo-solar.de

Branche: Alternative energy
ISIN: DE000A0JM634
WKN: A0JM63
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade

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