Energy Conversion Devices Comments on Recent Solar Integrated Technologies' U.S. Project Outlook

Energy Conversion Devices, Inc. (ECD) (Nasdaq: ENER), the leading global manufacturer of thin-film flexible solar laminate products for the building integrated and commercial rooftop markets, today commented on recent statements by Solar Integrated Technologies, Inc. (SIT) (AIM.LN: SIT), regarding the cancellation or delay of certain of SIT's projects in the United States due to uncertainty regarding the U.S. Investment Tax Credit.

"Our business remains strong, and there has been no change to our fundamentals," said Mark Morelli ECD's president and CEO. "Our largest market opportunities are currently in Europe where there is strong demand for our building-integrated (BIPV) solar product. Germany, Italy, France, and now Spain are growth markets for us. The announced changes in SIT's business do not affect our positive growth outlook."

"As we've stated in the past, we continue to believe that the U.S. market has tremendous potential for our products. We believe that the continuation of the Investment Tax Credit is an immediate step for the development of a vibrant U.S. solar market," said Morelli.

"As I have noted before, demand for our BIPV product exceeds our ability to produce, so we are growing our capacity to 1GW by 2012. Our business is strong, our worldwide backlog continues to grow, and I look forward to updating our investors on our progress with our first fiscal quarter earnings call scheduled for November 10, 2008," added Mr. Morelli.

About Energy Conversion Devices

Energy Conversion Devices, Inc. (ECD) (NASDAQ: ENER) is the leader in building integrated and commercial rooftop photovoltaics, one of the fastest growing segments of the solar power industry. The company manufactures and sells thin-film solar laminates that convert sunlight to energy using proprietary technology. ECD's UNI-SOLAR(R) brand products are unique because of their flexibility, light weight, ease of installation, durability, and real-world efficiency. ECD also pioneers other alternative technologies, including a new type of nonvolatile digital memory technology that is significantly faster, less expensive, and ideal for use in a variety of applications including cell phones, digital cameras and personal computers. For more information, please visit www.ovonic.com .

This release contains forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future net sales or performance, capital expenditures, financing needs, plans or intentions relating to expansions, business trends and other information that is not historical information. 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: our ability to achieve sustainable profitability; our ability to maintain our customer relationships; our ability to expand our manufacturing capacity in a timely and cost-effective manner; the worldwide demand for electricity and the market for solar energy; the supply and price of components and raw materials for our products; and the resolution of pending legal disputes. 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.

SOURCE Energy Conversion Devices, Inc.