FINANCIAL NEWS

Luxembourg / Zwanenburg, The Netherlands –August 31, 2010 – 3W Power Holdings (Euronext: 3WP) , the holding company of AEG Power Solutions, a global player in premium power electronics, today announced its financial results for the first six months of 2010. First half orders were €153.7 million, up 30% from €118 million in the first-half of 2009. The Company posted sales of €141 million, down 41% from the previous year, primarily due to an oversupply of poly silicon manufacturing impacting demand for its power control systems.
Second quarter orders were €85 million, up 23% over the first quarter and 55% over the second quarter of 2009. The strongest contributor to growth was solar orders worth €19.2 million vs. €7.7 million in the first quarter. Second quarter sales increased 18% over the first quarter but were down 33% on the second quarter of 2009 due to the weakness in the power control systems. However, two consecutive quarters of renewed orders together with exceptional demand for solar panels and rising spot price for poly silicon indicate a steadily eroding supply overhang that will lead to a resumed capacity expansion and growth for power control systems and modules.

EBITDA fell to -€0.3 million (previous year: €60.5 million on a pro forma basis) and EBIT to -€23.1 million (previous year: €25.1 million on a pro forma basis). The net result was -€7.8 million (previous year: €19.0 million on a pro forma basis), which corresponds to earnings per share of -€0.16 (previous year: €0.17 on a pro forma basis). An increase in the order entry to EUR 153.7 million (prior year: EUR 118.0 million on a pro forma basis) indicates that the Group was able to reverse the downward trend during the reporting period. The results include the consolidation of the converters business which had been held as discontinued.

Key Developments in the 1st Half of 2010

Business Reorganization
In the first six months of the year, the Group reorganized its business segments into two operating segments to further enhance its business performance and competitiveness. The Renewable Energy Solutions (RES) segment combines the power control systems and modules business (POC), as well as Group solutions for the solar industry. Combining all activities related to renewable energy sources in the RES segment serves to strengthen the Company’s focus on this area. RES segment revenue in the 1st half amounted to €46.1 million  (previous year: €143.6 million on a pro forma basis) while EBITDA fell to €9.1 million (previous year: €74.2 million on a pro forma basis) again due to the global oversupply of poly silicon manufacturing capacity. The Energy Efficiency Solutions (EES) segment includes the production and distribution of highly reliable power supply systems for the oil and gas, transportation, energy generation, electricity transmission and distribution, data and information technology, and other industries, as well as the Company's telecommunication solutions. These activities generated revenue of €94.9 million (prior year: €96.1 million on a pro forma basis) and EBITDA of -€0.7 million (prior year: -€3.8 million on a pro forma basis) in the first half of 2010.

Changes to Corporate Name, Registration and Leadership
In the course of the first half, the Group took the necessary steps to change the corporate holding company’s name from Germany1 Acquisition Limited to 3W Power Holdings SA and to migrate its location of registration from Guernsey to Luxembourg. Trading in the Group’s ordinary shares and warrants under their new ticker symbols (3WP and 3WPW, respectively) began on April 19, 2010, and the migration to the registered office in Luxembourg became effective on June 2, 2010.
On May 18, the Company announced that Bruce Brock, Chief Executive Officer of AEG Power Solutions, planned to retire and would be succeeded by Dr. Horst J. Kayser, as of August 1, 2010.

Recent Developments and Outlook
“Agenda 2012”
Within the Company, Dr. Kayser recently unveiled the “Agenda 2012” initiative, which he developed with the management team to reinforce a new strategic direction for AEG PS. The agenda sets clear operating and financial objectives for the two operating segments, which notably include improving their market position, increasing sales, and enhancing profitability through targeted measures in selected growth areas. At the Group level, the objective is to achieve specific revenue growth and EBITDA margin targets, as well as enhance the working capital position, by 2012.

Outlook
In this transitional year of 2010, the Group’s Management believes the first half was the low point in terms of revenue and earnings. The Company expects sales volume to improve in the second half of 2010. Based on the Company’s current visibility, order development is expected to improve by 10% to 20% in the second half compared with the first half of 2010. Revenues are anticipated to exceed €300 million for the year as a whole. and positive EBITDA is also expected.
Despite the weak market environment in the first half, the Company took advantage of this period to improve its position and it expects to benefit when global industrial infrastructure investments pick up again, thanks to its leading market positions and close customer relationships. The Group expects to continue to see significant growth opportunities, notably in solar and renewable energies. The trend towards intelligent electricity networks – known as “smart grids” – is also expected to present growth opportunities for both business segments in the medium term.

About AEG Power Solutions
AEG Power Solutions is a world provider of premium power electronics. It offers one of the world’s most comprehensive product and service portfolios in power conversion and control, for customers spanning the infrastructure markets of energy, telecom, lighting, transportation and general industrial sectors. System solutions from AEG PS are designed to interface with the electrical power grid and to offer power solutions for mission-critical applications in harsh environments, such as power plants, offshore oil rigs, chemical refineries, and utility-scale renewable energy plants. The company has developed a full range of products for the solar energy industry, from solar inverters to turnkey solutions and is investing in solutions that will enable distributed power generation and smart micro-grids.
Renowned for engineering excellence, the company’s customers benefit from over a century of expertise and field proven products under the AEG PS, Harmer & Simmons, and Saft Power Systems brands.
Headquartered near Amsterdam, AEG PS generated revenue of €400 million in 2009 with more than 1,500 employees around the world.
AEG Power Solutions became a public company in 2009 following a business combination with 3W Power Holdings Ltd. (formerly Germany1 Acquisition Ltd). Shares in the combined company are listed on Euronext Amsterdam (ticker: 3WP).
For more information and the complete half yearly 2010 financial report: www.aegps.com

This communication does not constitute an offer or the solicitation of an offer to buy, sell or exchange any securities of 3W Power. This communication contains forward-looking statements which include, inter alia, statements expressing our expectations, intentions, projections, estimates, and assumptions. These forward-looking statements are based on the reasonable evaluation and opinion of the management but are subject to risks and uncertainties which are beyond the control of 3W Power and, as a general rule, difficult to predict. The management and the company cannot and do not, under any circumstances, guarantee future results or performance of 3W Power and the actual results of 3W Power may materially differ from the information expressed or implied in the forward-looking statements. As a result, investors are cautioned against relying on the forward-looking statements contained herein as a basis for their investment decisions regarding 3W Power.
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