Energy Conversion Devices: Extension of Auction Date

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Energy Conversion Devices, Inc. and United Solar Ovonic LLC ("USO") have extended the auction date for the going concern sale of USO to 10:00 a.m. (Eastern Time) on May 8, 2012. This sale process is being conducted by ECD and USO under bankruptcy proceedings commenced under Chapter 11 in the U.S. Bankruptcy Court for the Eastern District of Michigan. The auction was previously scheduled for 10:00 a.m. (Eastern Time) on April 24, 2012.

Details surrounding the Auction Date extension, as well as other information regarding the Court proceedings, are available at

About Energy Conversion Devices, Inc.

Energy Conversion Devices has a renowned 51 year history since its formation in Detroit, Michigan and has been a pioneer in materials science and renewable energy technology development. The company has been awarded over 500 U.S. patents and international counterparts for its achievements. ECD's United Solar wholly owned subsidiary has been a global leader in building-integrated and rooftop photovoltaics for over 25 years. The company manufactures, sells and installs thin-film solar laminates that convert sunlight to clean, renewable energy using proprietary technology. UNI-SOLAR® brand products are unique because of their flexibility, light weight, ease of installation, durability, and real-world energy production. ECD's Ovonyx joint venture is the worldwide licensor of phase change memory ("PCM") technology. For more information, please visit ECD on the web at, on Facebook, and follow ECD on Twitter @ECD_ENER.

Safe Harbor Statement

This release contains forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements do not constitute guarantees of future performance. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future net sales or performance, capital expenditures, financing needs, restructuring, plans or intentions relating to expansions, business trends and other information that is not historical information. For example, forward-looking statements included above are: "We firmly believe there is a strong and sustainable commercial market for UNI-SOLAR products"; "USO's next-generation, 12% efficient, flexible PV products build upon 25 years of PV experience and enable highly competitive production costs with a fundamentally differentiated product"; and, "The processes we initiated today will afford greater opportunity for ECD to maximize value for its stakeholders and conduct an orderly sale of USO to ensure it is viable and successful for the long-run". All forward-looking statements are based upon information available to us on the date of this release and are subject to risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Risks that could cause such results to differ include, but are not limited to:

    the potential adverse impact of the bankruptcy proceedings on our businesses and therefore the value of our assets;
    our ability to obtain court approval with respect to motions we make in the bankruptcy proceedings from time to time;
    our ability to maintain our customer relationships and establish new relationships;
    our ability to identify a buyer that is interested in acquiring USO on an on-going basis at a price that will be supported by our creditors;
    the worldwide market for solar energy systems;
    changes to government incentives related to solar energy;
    our customers' ability to access capital to finance the purchase of our products;
    our ability to achieve expense reductions and levels of one-time costs, including restructuring charges;
    our ability to meet all the terms and conditions of our debt obligations;
    our ability through technology improvements to reduce cost and improve the conversion efficiency of our solar products.

The risks and uncertainties and the terms of any reorganization or liquidation plan ultimately confirmed by the Court can affect the value of our various pre-petition liabilities, common stock and other securities. No assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these constituencies. A plan of reorganization or liquidation could result in holders of our liabilities and securities receiving no value for their interests. Because of such possibilities, the value of these liabilities and securities is highly speculative. Accordingly, we urge caution be exercised with respect to existing and future investments in any of these liabilities and securities.

The risk factors identified in the ECD filings with the Securities and Exchange Commission, including the company's most recent Annual Report on Form 10-K and most recent Quarterly Report on Form 10-Q, could impact any forward-looking statements contained in this release. Energy Conversion Devices, Inc. assumes no responsibility to update any forward-looking statements contained herein, except as required by law.

         Kim Paulson
         Senior Manager, Corporate Communications
         +1 (248) 299-6063
         [email protected]
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