XINYU CITY, China and SUNNYVALE, Calif., May 12 /PRNewswire-FirstCall/ --LDK Solar Co., Ltd. (NYSE: LDK), a leading manufacturer of multicrystallinesolar wafers, today reported its unaudited financial results for the firstquarter ended March 31, 2008.

    All financial results are reported in U.S. dollars on a U.S. GAAP basis.
    First Quarter 2008 Financial Highlights:
    -- Revenue of $233.4 million, up 21.1% quarter-over-quarter;    -- Signed 6 long-term wafer supply agreements since the beginning of the       year; and    -- Total wafer shipments increased 27.6% to 119.2 MW in the first quarter.

Net sales for the first quarter of fiscal 2008 were $233.4 million, up21.1% from $192.8 million for the fourth quarter of fiscal 2007, and up 218.0%year-over-year from $73.4 million for the first quarter of fiscal 2007.

Gross profit for the first quarter of fiscal 2008 was $64.6 million, up11.2% from $58.0 million for the fourth quarter of fiscal 2007, and up 127.5%year-over-year from $28.4 million for the first quarter of fiscal 2007. Grossprofit margin for the first quarter of fiscal 2008 was 27.7% compared with30.1% in the fourth quarter of fiscal 2007 and 38.7% in the first quarter offiscal 2007.

Income tax expense for the first quarter of fiscal 2008 was $8.5 million.One of our operating subsidiaries in the PRC, after the first two years ofexemptions, is now subject to a tax rate of 12.5% under the new PRC EnterpriseIncome Tax Law, or the EIT Law.

Net income for the first quarter of fiscal 2008 was $49.8 million, or$0.45 per diluted ADS, compared to net income of $49.2 million, or $0.44 perdiluted ADS for the fourth quarter of fiscal 2007.

LDK Solar ended the first quarter of fiscal 2008 with $93.7 million incash and cash equivalents.

'The first quarter of 2008 marked the beginning of another strong year forLDK,' stated Xiaofeng Peng, Chairman and CEO of LDK Solar. 'We recordedstrong revenue and higher than expected wafer shipments for the first quarterdespite the snow storm we experienced in South China. The demand for ourwafers remained high and we have signed six significant wafer supplyagreements since the beginning of the year. We ended the quarter with anannualized wafer production capacity of 580 MW. In response to sales backlogwe have, we decided to increase our target annualized capacity to 1.1 GW bythe end of 2008 and 2.0 GW by the end of 2009.

'Regarding our polysilicon plant project, the construction remains ontrack for completion based on our previously announced schedule. With therecent funding we secured, in addition to our other financial resources, suchas advances from customers, LDK is well positioned to pursue its aggressivegrowth strategy,' concluded Mr. Peng.

Business Outlook

The following statements are based upon management's current expectations.These statements are forward-looking in nature, and the actual results maydiffer materially. You should read the 'Safe Harbor Statement' below withrespect to the risks and uncertainties relating to these forward-lookingstatements.

For the second quarter of fiscal 2008, LDK Solar estimates its revenue tobe in the range of $278 million to $288 million with wafer shipments between136 MW to 146 MW. LDK Solar also revised its outlook for the full year offiscal 2008.