Athanor Equities acquires stake in Flora EcoPower

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Munich, December 12, 2008. Luxembourg based renewable energy group,
Athanor Equities (Athanor), plans to purchase a majority stake in
Munich based biogenous oil manufacturer, Flora EcoPower Holding AG
(FEP). Athanor has already acquired 28 percent of the FEP stock from
former principal shareholder SBFTC and has pledges for purchasing a
further 23 percent. The transaction is intended for completion in the
near future. The annual general meeting of December 9 ratified a
motion to expand the supervisory board to six members and elected
Philippe Perret and Jean-Marie Santander, both Athanor Executive
Board members, to the Supervisory Board. The Main Stockholders'
Meeting additionally endorsed an equity capital increase of as much
as ¤28.75 million, up to ¤54.88 million.

Athanor's commitment opens up new opportunities for both companies,
such as FEP's planned role of providing global coverage for Athanor's
biogenous oil interests - which will include the cultivation,
production and the sale of castor and jatropha oil. At the same time,
FEP will gain access to new capital and markets. Intensive
cooperation in various areas is planned in the framework of this
projected long term partnership.

Athanor specializes in renewable energies and is one of the fast
growing enterprises in this sector. The company, which is based in
Luxembourg and listed on the principality's stock exchange, has a
market capitalisation of ca. ¤220 million and extensive experience in
solar energy, biomass and wind power. Athanor is also seeking
investments in the hydro-power segment and is fast becoming a leading
electricity generator in the renewable energies sector.

"Athanor's investment is an important step forward and confirms our
internationally aligned growth strategy," says FEP chief executive,
Peter Korak. "With Athanor's support, we want to become Europe's
Number 1 player on the biogenous oil market. This is one of the
grounds for the capital increase," he continues.

"We are convinced that the biogenous oil and biomass market offers
considerable growth potential," explains Athanor Management Board
member, Philippe Perret. "Our engagement will help FEP to further
expand internationally. The businesses compliment one another
optimally. We are the perfect match!" he adds.

FEP has meanwhile started with the first castor harvest in Ethiopia
and is forecasting a total production of at least 11,000 metric
tonnes of high quality biogenous oil. The yield will be primarily
taken up by the chemical and pharmaceuticals industries and generate
revenues of at least eight million euros. The crop will also produce
at least 12,000 tonnes of biomass which is to be sold to power
generators.

At the suggestion of stockholders Dr. Franz Wagner, Ulpian GmbH and
Franca Trading GmbH - both represented by Thomas Höder - and the
German non-profit association for stockholder protection, Deutsche
Schutzvereinigung für Wertpapierbesitz e. V., the Flora EcoPower
Holding AG annual general meeting of December 9, 2008 additionally
ratified a special audit to evaluate the non-cash contribution of the
October 2006 capital increase. The Executive Board supported this
measure for the sake of transparency and regards the audit
objectively as being in the stockholders' interests.

The company
Flora EcoPower Holding AG (FEP), based in Munich, Germany, has set
itself the goal of becoming a global market leader for cultivating
castor and jatropha plants for manufacturing biogenous oil for
non-food applications.

Press contact:
Dr. Alexander Baer, Björn Zaksek
Engel & Zimmermann AG
Schloss Fussberg, Am Schlosspark 15, D-82131 Gauting,
Tel.: +49(0)89 89 35 63-3, Fax +49 (0)89 89 39 8429,
Email: info@engel-zimmermann.de

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Flora EcoPower Holding AG
Kanalstr. 17 München Germany

WKN: A0HHE3;
ISIN: DE000A0HHE38;
Listed: Freiverkehr in Frankfurter Wertpapierbörse, Freiverkehr in
Börse Berlin;
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