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MEMC Reports Fourth Quarter and Full Year 2010 Results

ST. PETERS, Mo. Feb. 1, 2011

$850.1 million $503.1 million $356.7 million $307.6 million $3.8 million November 2009 $949.5 million $99.4 million

$2,239.2 million $1,163.6 million $420.5 million $3.8 million $2,416.0 million $176.8 million

$20.9 million $9.9 million $11.0 million $88.4 million

$11.4 million $0.05 $17.6 million $0.08 $7.1 million $0.03 $58.2 million $0.25

$33.2 million $0.15 $68.3 million $0.31 $88.7 million $0.39

$286.6 million $52.3 million $19.4 million $347.6 million $33.0 million

$115.1 million

$101.5 million

$188.4 million $7.0 million

$707.3 million $62.5 million

$618.4 million December 31, 2010

Ahmad Chatila

$3.4 $1.00 to $1.30 $2.8 – $3.1 billion $0.25 to $0.55

Following is additional detail on fourth quarter 2010 results by segment.

Semiconductor Materials

$262.6 million

$25.6 million $26.2 million $9.6 million

Solar Materials

$279.9 million

$38.1 million $17.6 million $32.4 million

Solar Energy (SunEdison)

$307.6 million $21.5 million $3.8 million $407.0 million $58.0 million $19.7 million

$8.2 million $7.2 million $59.3 million

Corporate/Other

$34.6 million $26.7 million $27.6 million

February 1 5:30 p.m. ET

Use of Non-GAAP Measures

Management has determined that certain non-GAAP metrics for the SunEdison segment presented herein are the key metrics that will help investors understand the ultimate income and near-term cash flows generated by our SunEdison business.  These non-GAAP measures and metrics include deferrals required under GAAP real estate and lease accounting for some of SunEdison’s direct sales and or its sale-leaseback transactions.  For a complete description of our non-GAAP measures, see the non-GAAP reconciliation table below and Form 8-K filed today.

Conference Call

February 1 5:30 p.m. ET www.memc.com

7:30 p.m. ET February 1 11:59 p.m. ET February 8 11:59 p.m. ET February 8 www.memc.com

About MEMC

Europe Asia www.memc.com

Forward-Looking Statements

$3.4 $1.00 to $1.30 $2.8 – $3.1 billion $0.25 to $0.55

MEMC ELECTRONIC MATERIALS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited; In millions, except per share data)

Three Months Ended

Twelve Months Ended

December 31,

September 30,

December 31,

December 31,

December 31,

2010

2010

2009

2010

2009

Net sales

$                850.1

$                503.1

$                356.7

$             2,239.2

$             1,163.6

Cost of goods sold

726.1

418.2

303.7

1,894.1

1,035.5

Gross profit

124.0

84.9

53.0

345.1

128.1

Operating expenses:

Marketing and administration

83.1

59.4

52.4

277.3

161.9

Research and development

19.0

14.0

10.6

55.6

40.4

Restructuring and impairment charges

1.0

1.6

1.0

5.3

53.0

Insurance recovery

(11.9)

Operating profit (loss)

20.9

9.9

(11.0)

18.8

(127.2)

Non-operating expense (income):

Interest expense

5.5

5.1

3.1

28.7

4.0

Interest income

(0.7)

(0.7)

(4.1)

(5.5)

(26.5)

Decline (increase) in fair value of warrant

2.1

(0.2)

(1.7)

14.0

(5.4)

Other, net

1.7

0.8

(1.3)

(3.9)

0.9

Total non-operating expense (income)

8.6

5.0

(4.0)

33.3

(27.0)

Income (loss) before income tax benefit and equity in earnings of joint venture

12.3

4.9

(7.0)

(14.5)

(100.2)

Income tax benefit

(9.8)

(13.6)

(7.3)

(54.1)

(42.2)

Income (loss) before equity in earnings of joint venture

22.1

18.5

0.3

39.6

(58.0)

Equity in earnings of joint venture, net of tax

(0.1)

(6.0)

7.2

(11.8)

Net income (loss)

22.1

18.4

(5.7)

46.8

(69.8)

Net (income) loss attributable to noncontrolling interests

(10.7)

(0.8)

(1.4)

(13.6)

1.5

Net income (loss) attributable to MEMC stockholders

$                  11.4

$                  17.6

$                  (7.1)

$                  33.2

$                (68.3)

Basic income (loss) per share

$                  0.05

$                  0.08

$                (0.03)

$                  0.15

$                (0.31)

Diluted income (loss) per share

$                  0.05

$                  0.08

$                (0.03)

$                  0.15

$                (0.31)

Weighted-average shares used in computing basic income (loss) per share

227.0

226.8

225.0

226.9

223.9

Weighted-average shares used in computing diluted income (loss) per share

228.7

227.6

225.0

228.1

223.9

RESULTS BY REPORTABLE SEGMENT

Three Months Ended

Twelve Months Ended

December 31,

September 30,

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