Forward Looking Statement

Hoku Corporation (NASDAQ: HOKU) is a diversified clean energy technologies company with three business units: Hoku Materials, Hoku Solar and Hoku Fuel Cells. Hoku Materials plans to manufacture, market, and sell polysilicon for the solar market from its plant currently under construction in Pocatello, Idaho. Hoku Solar markets, sells and installs turnkey photovoltaic systems in Hawaii. Hoku Fuel Cells has developed proprietary fuel cell membranes and membrane electrode assemblies for stationary and automotive proton exchange membrane fuel cells.

This website contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on our management's beliefs and assumptions and on information currently available to our management. Forward-looking statements include all statements other than statements of historical fact contained in this Quarterly Report on Form 10-Q, including, but not limited to, statements about:

• The closing of our financing agreement with Tianwei, and our receipt of  the proceeds of our $50 million loan agreement with Tianwei and China Construction Bank;
• our ability to raise sufficient funds to construct and equip a 4,000 metric ton per year polysilicon manufacturing facility in Pocatello, Idaho, including payments for the engineering and procurement services from Stone & Webster, Inc., construction services from JH Kelly LLC, the purchase and installation of equipment from GEC Graeber Engineering Consultants GmbH and MSA Apparatus Construction for Chemical Equipment, Ltd., AEG Power Solutions USA Inc., formerly known as Saft Power Systems USA, Inc., PVA Tepla Danmark and other vendors, contractors and consultants in general, and to comply with our obligations under our polysilicon supply agreements with Shanghai Alex New Energy Co., Ltd., Wuxi Suntech Power Co., Ltd., Solarfun Power Hong Kong Limited, Tianwei New Energy (Chengdu) Wafer Co., Ltd.,  Jiangxi Jinko Solar Co., Ltd. and Wealthy Rise International, Ltd.(Solargiga); 
• our ability to raise additional cash to provide the Company with sufficient liquidity to continue as a going concern
• our ability to receive customer prepayments based on the agreed-upon schedules and contingent upon meeting certain milestones, if at all, under our polysilicon supply agreements with Shanghai Alex New Energy Co., Ltd., Wuxi Suntech Power Co., Ltd., Solarfun Power Hong Kong Limited, Tianwei New Energy (Chengdu) Wafer Co., Ltd.,  Jiangxi Jinko Solar Co., Ltd. and Wealthy Rise International, Ltd.(Solargiga); 
• our ability to secure additional long-term polysilicon supply customers and customer prepayments; 
• our cost to engineer, procure, construct and operate our planned polysilicon facility, including any cost increases resulting from the planned increase in production capacity from 3,500 metric tons per year to 4,000 metric tons per year; 
• our ability to meet our commitments under certain supply agreements to deliver polysilicon in the first quarter of calendar year 2010; 
• the ability of Stone & Webster, Inc., JH Kelly LLC, GEC Graeber Engineering Consultants GmbH and MSA Apparatus Construction for Chemical Equipment, Ltd., Idaho Power Company, Dynamic Engineering Inc., AEG Power Solutions USA Inc., formerly known as Saft Power Systems USA, Inc., PVA Tepla Danmark, Polymet Alloys, Inc., BHS Acquisitions, LLC and our other vendors, contractors and consultants to meet the delivery schedules and other terms in their respective agreements with us;    
• our ability to engineer, construct and operate a production plant for polysilicon; 
• our ability to produce polysilicon, the quality of any polysilicon we produce, our costs to produce polysilicon, and our ability to offer pricing that is competitive with competing products; 
• our ability to raise sufficient funds to purchase raw materials needed for the production of polysilicon from vendors with whom we have current supply agreements, such as Polymet Alloys, Inc. and BHS Acquisitions, LLC, as well as from other vendors with whom we do not yet have supply agreements; 
• the performance by our existing customers of their obligations under polysilicon supply agreements, and our ability to secure new customers for additional prepayments; 
• our ability to diminish or defer capital expenditures for our polysilicon plant by delaying construction of our trichlorosilane production system; 
• our ability to produce trichlorosilane, and the efficiency and potential operating cost savings from the trichlorosilane production process to be designed by Dynamic Engineering Inc.; 
• our ability to identify and reach agreements with vendors to supply us with the raw materials we will need to produce polysilicon, including our ability to identify and reach an agreement with a vendor of trichlorosilane and the cost of purchasing trichlorosilane from third parties; 
• our ability to meet the quality, quantity and timing requirements under our polysilicon supply agreements with Shanghai Alex New Energy Co., Ltd., Wuxi Suntech Power Co., Ltd., Solarfun Power Hong Kong Limited, Tianwei New Energy (Chengdu) Wafer Co., Ltd.,  Jiangxi Jinko Solar Co., Ltd. and Wealthy Rise International, Ltd.(Solargiga); 
• our forecasted revenue from the potential future sale of polysilicon; 
• our ability to complete photovoltaic system installations, including potential future installations with The James Campbell Company; 
• our ability to offer pricing for photovoltaic system installations that is competitive with competing products and installation providers; 
• the performance and durability of the photovoltaic systems we install; 
• the cost to procure and install photovoltaic systems; 
• our ability to offer pricing that is competitive with competing products and expected future revenue from the photovoltaic  system installation business; 
• our expectations regarding the potential size and growth of photovoltaic system installations and polysilicon markets in general and our revenues in particular; 
• our expectations regarding the market acceptance of our products; 
• our future financial performance; 
• our business strategy and plans; and 
• objectives of our management for future operations. 

In some cases, you can identify forward-looking statements by terms such as "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, time frames or achievements to be materially different from any future results, performance, time frames or achievements expressed or implied by the forward-looking statements. Given these risks, uncertainties and other factors, you should not place undue reliance on these forward-looking statements. In evaluating these statements, you should specifically consider the risks described in Hoku Corporation's filings with the Securities and Exchange Commission. Except as required by law, Hoku Corporation assumes no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.