In the news release, "ReneSola Ltd Announces Fourth Quarter and Full Year 2008 Results", issued earlier today by ReneSola Ltd over PR Newswire Asia, we are advised by the company that the section of the release titled 'Senior Management Changes' should have included the following paragraph: "Julia Xu recently joined ReneSola as vice president of investor relations. Julia has over 10 years of experience in the financial industry. After obtaining her bachelor's degree in Biology from Cornell University, she worked in various divisions at Bankers Trust and Lehman Brothers in New York, Tokyo and Hong Kong. She then joined Deutsche Bank after receiving her MBA from the Johnson School of Cornell University. At Deutsche Bank, she was an equity analyst covering consumer companies and also worked in the Debt Capital Markets corporate coverage team." Also, we are advised by the company that the column in the Balance Sheet titled 'As at September 30, 2007' should have read 'As at September 30, 2008' as originally issued inadvertently. Full correct Balance Sheet reads as follows: CONSOLIDATED BALANCE SHEET As at As at As at December September December 31, 2007 30, 2008 31, 2008 US$000 US$000 US$000 ASSETS Current assets: Cash and cash equivalents 53,137 99,441 112,333 Restricted cash -- 25,755 5,958 Accounts receivable, net of allowances for doubtful receivables 8,755 3,367 43,160 Inventories 110,630 319,744 193,036 Advances to suppliers 53,727 123,955 37,573 Amounts due from related parties 17,213 5,954 457 Value added tax recoverable 117 982 15,498 Prepaid expenses and other current assets 9,654 15,048 15,158 Deferred tax assets 10,487 1,330 18,616 Total current assets 263,720 595,576 441,789 Property, plant and equipment, net 136,598 260,864 341,427 Prepaid land rent, net 7,502 7,900 13,472 Deferred tax assets 284 227 2,340 Deferred convertible bond issue costs 3,336 2,384 1,970 Advances to suppliers over one year -- -- 41,462 Advances for purchases of property, plant and equipment 29,648 182,586 161,705 Equity investment -- 23,423 -- Other long-term assets -- 760 1,011 Total assets 441,088 1,073,720 1,005,176 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term borrowings 71,691 167,225 191,987 Accounts payable 13,147 20,177 37,942 Advances from customers 59,626 152,189 49,284 Amount due to related party -- -- 11,863 Other current liabilities 13,912 28,283 42,060 Total current liabilities 158,376 367,874 333,136 Convertible bond payable 128,265 139,173 138,904 Long-term borrowings 17,797 44,773 32,833 Advances from customers -- -- 105,203 Other long-term liabilities 1,246 7,875 11,357 Total liabilities 305,684 559,695 621,433 Minority interest: 9,696 775 279 Shareholders' equity Common shares 36,266 330,666 330,666 Additional paid-in capital 14,827 17,674 17,769 Retained earnings 66,200 139,569 12,949 Accumulated other comprehensive income 8,415 25,341 22,080 Total shareholders' equity 125,708 513,250 383,464 Total liabilities and shareholders' equity 441,088 1,073,720 1,005,176 http://www.newscom.com/cgi-bin/prnh/20080506/CNTU030DATASOURCE: ReneSola Ltd Web site: http://www.renesola.com/

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