...Provides Update on Commerzbank Agreement

Press Release Source: ARISE Technologies Corporation On Friday July 15, 2011, 9:00 am EDT

WATERLOO, ON, July 15, 2011 /CNW/ - ARISE Technologies Corporation (TSX: APV and Frankfurt: A3T) ("ARISE" or the "Company"), which is a leader in high-performance, high-quality, cost-effective solar technology, today announced the issuance to Radiant Offshore Fund Ltd and Radiant Performance Fund LP (collectively "Radiant") of secured debentures with an aggregate principal amount of $2.75 million. The debentures have a 2 year term and an interest rate of 9.0% per annum. In addition to the issuance of the secured debentures, ARISE issued a total of 66,666,667 share purchase warrants to acquire common shares in the capital of ARISE. Each share purchase warrant is exercisable to acquire 1 common share at an exercise price of $0.10 per share and will expire on the sixth anniversary of the issuance date. If ARISE repays $2,000,000 of the principal amount of the secured debentures prior to the exercise of the warrants by Radiant, 60,000,000 warrants will be cancelled. Any partial repayment of the principal amount of the secured debentures prior to the exercise of the warrants will result in a proportional cancellation of warrants, which results in this private placement being similar to a convertible debenture financing.

The Company intends to use $2.5 million of the proceeds to augment its working capital position at ARISE Germany. The balance of the proceeds are to be used for general corporate purposes.

Update on Commerzbank Agreement
Upon receipt of the $ 2.5 million at ARISE Germany, noted above, Commerzbank will extend to September 15, 2011 the date when ARISE's standstill agreement is due. The Company will issue a public announcement when the agreement with Commerzbank is finalized.

About Radiant Investments
Radiant Investment Management Ltd. (RIML) is an event-driven hedge fund that employs a variety of strategies to generate alpha returns for its investors. RIML made their first investment in Arise Technologies in June 2010 and continues to be supportive of management and their direction. RIML Head office is located in Toronto, Canada and has onshore and offshore funds.

About ARISE Technologies
ARISE Technologies Corporation, based in Waterloo, Ontario, is a leader in high-performance, cost-effective solar technology. The company operates through three divisions. The PV Cell Division manufactures PV (photovoltaic) cells at its first manufacturing plant opened in April 2008 in Bischofswerda, Germany. The division is developing proprietary technology with a target of achieving a step-by-step progression to a high-efficiency level of greater than 20%. The PV Silicon Division is using a proprietary method to produce silicon at 7N+ high-purity (99.99999% purity) for PV cell applications, based on a simplified chemical vapor deposition process. The division is focusing on scaling up its process to provide ARISE with control over its supply, costs, and quality. The PV Systems Division has been providing rooftop and ground-mounted PV solutions since 1996. ARISE is planning to expand its systems business in Ontario under the Ontario FIT (Feed-In Tariff) program.

The company's shares are listed on the Toronto Stock Exchange under the symbol APV and on the Frankfurt Open Market Exchange under the symbol A3T. Additional information is available at www.arisetech.com and www.sedar.com.

Forward-Looking Statements and Risk Factors
Certain statements in this news release may be considered to be forward-looking. Such statements are based on management's current expectations, estimations, and assumptions based on experience, trends, and other factors that are subject to the significant risks and uncertainties described in our regulatory filings. Please refer to these. Such risks and uncertainties may include, but are not limited to, the effects of general economic conditions, changing foreign exchange rates, actions by government authorities, the requirement for additional capital, risks associated with manufacturing, industry supply levels, competitive pricing pressures and misjudgements in the course of preparing forward-looking statements.

Risk factors relating to ARISE are discussed in the Risk Factors section of the (final) prospectus supplement, ARISE's Annual Information Form and under the headings Liquidity and Capital Resources and Risk and Uncertainties in ARISE's year-end Management's Discussion and Analysis which are or will be available at www.sedar.com. These factors should be considered carefully, and readers should not place undue reliance on ARISE's forward-looking statements.

ARISE assumes no obligation to update any forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

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