20.12.07

20.12.2007: Meldung: Arise Technologies announces receipt of Euro 2.3 million payment

ARISE Technologies Corporation ("ARISE" or the "Company") is pleased to announce that its wholly-owned subsidiary ARISE Technologies Deutschland GmbH (ARISE Germany) has received from the Saechsische AufbauBank (SAB) a further payment of Euro 2.3 million. Payments received to date equal Euro 4.3 million of the Euro 12.4 million incentive grant previously announced by the Company and payable over the term of the Company"s high efficiency photovoltaic cell manufacturing plant construction project. ARISE Germany is also eligible to receive refundable federal tax credits in connection with its funding of the project in the amount of Euro 12.15 million over the term of the project resulting in total German government incentive funding of Euro 24.55 million.

The German government incentive funding combined with the previously announced credit facilities with the Commerzbank AG and the previously announced equity investment by ARISE is being used to construct and equip ARISE Germany"s Euro 50.0 million plant in Bischofswerda, Germany.

About ARISE

ARISE Technologies is dedicated to accelerating the use of solar energy in mainstream markets. The Company"s shares are listed on the TSX Venture 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.

About SAB

SAB is the central development agency of the Free State of Saxony, Germany. Acting on behalf of the state, SAB allocates and distributes development funding from a range of EU, national and regional support programs to businesses, technology companies and investors, housing developers and homeowners, as well as other social groups in Saxony. Funding takes the form of grants, subsidies, loans and guarantees.

Certain statements contained in this press release may be considered as forward-looking. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results.

For further information

ARISE Technologies Corporation, 65 Northland Road, Waterloo, Ontario, Canada, N2V 1Y8, Tel. (519) 725-2244, Fax: (519) 725-8907, www.arisetech.com
Ian MacLellan, President & CEO, (519) 725-2244 Ext. 5707, ian.maclellan@arisetech.com
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