Arise — Capital/Financing Update 2010

Jun 24, 2010

PRESS RELEASE Halmstad 24 June 2010

Loan agreement signed with Swedbank for Kåpult wind power project

Arise Windpower AB (Arise) has signed an agreement with Swedbank for loan financing of the Kåphult wind power project in the municipality of Laholm. The project encompasses 7 wind turbines with an aggregate effect of 17.5 MW.

It is anticipated that construction will commence after the summer and that the turbines will go into operation during December 2010. This is Arise's sixth wind farm in southern Sweden. The company will now have 43 wind turbines in operation or under construction, with a total effect of 95 MW. The rate of expansion is in accordance with plan.

The project will satisfy the company's minimum returns requirement of 10 per cent of total invested capital. The estimated specific investment cost is approximately SEK 5.5/kWh per year.

Halmstad 24 June 2010

ARISE WINDPOWER AB (publ)

The above information is such that Arise Windpower AB (publ) is required to disclose under the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on 24 June 2010 at 07.30 am.

For additional information, please contact

Peter Nygren, CEO Tel. +46(0)706-300 680

About Arise Windpower

Arise Windpower AB (publ), Box 808, 301 18 Halmstad, tel. +46 35 20 20 900, org.nr. 556274-6726 E-mail: info@arisewindpower.se, www.arisewindpower.se

Arise Windpower is one of Sweden's leading land-based wind power companies. Arise Windpower's business concept is to sell electricity produced by its own land-based wind turbines in southern Sweden. The company's goal is to commission approximately 300 wind turbines by 2014 which will produce around 2 TWh of environmentally friendly electricity per year. Arise Windpower is listed on NASDAQ OMX Stockholm.