ARISE Technologies Schedules Release of Second-Quarter Financial Results and Conference Call

    
    -   Comments on revenue expectations for the quarter
    -   Initiating practice of holding conference calls and webcast following
        release of quarterly financial results
    

WATERLOO, ON, July 7 /CNW/ - ARISE Technologies Corporation (TSX: APV and Frankfurt: A3T), which is dedicated to becoming a leader in high-performance, cost-effective solar technology, today announced that it expects to issue its financial results for the second quarter and first-half ended June 30, 2008 on August 11, 2008.

"With the issuance of our 2008 second-quarter financial results, ARISE will initiate holding quarterly conference calls that will be webcast for the investment community and our shareholders," said Dave Chornaby, Chief Financial Officer. "This is consistent with what investors expect of companies that wish to adhere to the best practices of investor relations, as is the case for ARISE."

ARISE said that it will hold its conference call on August 12, 2008 at 8:30 a.m. EDT. The company will announce further details regarding the call on August 5, 2008.

"While ARISE will still not report significant revenues from the sale of photovoltaic (PV) cells for the second quarter, we have reached the point in our growth and development where it is appropriate for us to begin having such calls," Mr. Chornaby continued.

"Standard practices in our industry dictate that our customers will conduct several months of rigorous testing prior to approving volume shipments. This is the case with our first two major customers, aleo solar AG and SOLON AG. Both have taken initial shipments and are carrying out their testing. At this time we expect completion of their testing by some time in August," he continued.

"We are in close communications with both customers and believe that the testing is proceeding well. We are using this time productively at our German plant to conduct Site Acceptance Tests for Line 1 towards achieving the necessary targeted levels of efficiency, yield, and throughput."

"As to the second-quarter and first-half results," Mr. Chornaby said, "as in recent quarters, we expect that our revenues will be modest, consisting of those generated by our PV Systems Division as well as some initial shipments of PV cells. We should see more meaningful volume and revenue from PV cell shipments in the third quarter," he said.

About ARISE Technologies

ARISE Technologies Corporation, based in Waterloo, Ontario, is dedicated to becoming a leader in high-performance, cost-effective solar technology. The company operates through three divisions. The PV Cell Division manufactures PV (photovoltaic) cells at its first manufacturing plant opened in April 2008 in Bischofswerda, Germany. The division is developing proprietary technology with a target of achieving a step-by-step progression to a high-efficiency level of greater than 20 percent. The PV Silicon Division is using a proprietary method to produce silicon at 7N+ high-purity (99.99999 percent purity) for PV cell applications, based on a simplified chemical vapor deposition process. The division is focusing on scaling up its process to provide ARISE with control over its supply, costs, and quality. The PV Systems Division provides complete turnkey PV solutions for solar farms and rooftop installations under the Ontario standard offer program.

The company's shares are listed on the Toronto Stock Exchange under the symbol APV and on the Frankfurt Open Market Exchange under the symbol A3T. Additional information is available at www.arisetech.com and www.sedar.com.

Forward-Looking Statements

Certain statements in this news release may be considered to be forward-looking. Such statements are based on management's current expectations, estimations, and assumptions based on experience, trends, and other factors that are subject to the significant risks and uncertainties described in our regulatory filings. Please refer to these. Such risks and uncertainties may include, but are not limited to, the effects of general economic conditions, changing foreign exchange rates, actions by government authorities, uncertainties associated with legal proceedings and negotiations, industry supply levels, competitive pricing pressures and misjudgments in the course of preparing forward-looking statements. ARISE assumes no obligation to update any forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Contacts

ARISE Technologies Corporation
65 Northland Road
Waterloo
Ontario
Canada
N2V 1Y8

Dave Chornaby
Chief Financial Officer
(519) 772-5732
Dave.Chornaby@arisetech.com
www.arisetech.com