/C O R R E C T I O N -- ReneSola Ltd /

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



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