BELTSVILLE, Md. - April 13 2009 - SunEdison, North America's largest solar energy services provider, today announced that it activated a record 86 photovoltaic (PV) solar energy systems in the U.S. during 2008 with a total capacity of 25.5 MW (DC).

We remain optimistic about Energy Conversion Devices, Inc.’s (ENER) long-term potential success in the high growth alternative energy industry, given increased activity in solar power projects. Looking forward, the story will continue with geographically diversified sales pipeline touching $1.8 billion, intended expansion to 1GW by 2012, reducing cost per watt, committed supply agreements and falling material cost through expansion of supplier base.

Nevertheless, we note the stock’s high volatility, pending sale of its Cobasys joint venture, higher pre-production costs, and a history of EPS losses till Q2'08, without meaningful valuation metrics, collectively show potential for moderate-to-high returns yet with high risk. Accordingly, we maintain a speculative Buy recommendation on ENER common stock with a six-month target price of $85, representing an 11% upside potential.

Looking ahead through the company’s current fiscal year 2009, ENER is expected to maintain its bottomline profitability achieved in the last two quarters. Media reports suggest General

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