REpower appoints new Chief Financial Officer

Hamburg: The supervisory board of REpower Systems AG (WKN 617703) today announced the appointment of Mr. Derrick Noe as new Chief Financial Officer. Mr Noe shall join the company with effect from 1st February 2010. He comes to REpower with rich international experience in a variety of industries, including Automotive, Retail, Industry and Pharmaceuticals. His broad financial background includes M&A, equity offering, post-merger acquisition and IPO, as well as Investor Relations experience.

A US national with many years professional experience in Germany, Mr. Noe most recently rejoined Droege International AG in Germany as Senior Partner, where he was involved in the acquisition of Actebis for their Equity portfolio. Before this, he worked with Pfleiderer AG and with Kloeckner & Co AG as CFO, where he realised a successful turnaround by cost reduction measures, changing of capital structure, re-financing and reorganising the Head Office, before the company was sold to a Private Equity firm. During his first stint with Droege & Comp. as Principal, he also took on the role of interim CFO for portfolio companies. Mr. Noe started his career with Commerzbank AG, JP Morgan Chase and Schroeder Munchmeyer Hengst & Co, now UBS and has been living in Germany for close to 25 years now.

Commenting on the appointment, Mr. Tulsi Tanti, chairman of the REpower supervisory board, said, “We are very pleased to welcome Derrick Noe to REpower’s management team. His more than 20 years’ experience as a top level operational CFO for listed companies, as well as financial advisor and turnaround
manager for several international firms, will bring tremendous value to REpower and its shareholders.”

Commenting on his appointment Derrick Noe said, “I am delighted to be joining REpower; poised to be a global leader in onshore and offshore wind technology, the company plays a key role in the rapidly growing global renewable energy market and I look forward to helping drive that development.”