Genie Energy Ltd. Announces Updated Disclosure for Exchange Offer

Genie Energy

announced that, earlier today, it filed an amended Schedule TO, including a revised Offer to Exchange disclosure document, to address comments received from the Staff of the Securities and Exchange Commission with respect to its pending offer to exchange up to 8,750,000 outstanding shares of its Class B Common Stock, on a one-for-one basis, for shares of a newly created series of preferred stock more fully described in the Offer to Exchange. The exchange offer is scheduled to expire at 5:00 p.m. New York City time on September 5, 2012, unless extended by Genie. Genie has been advised that, as of 5:00 p.m. on August 21, 2012, 33,137 shares of Class B Common Stock had been tendered for exchange. Exchange Offer Statement This press release is for informational purposes only and is neither an offer to exchange nor the solicitation of an offer to tender any shares. The exchange offer is made solely by the definitive Offer to Exchange, related Letter of Transmittal and other related documents. Each holder of our Class B Common Stock is urged to consult their tax advisor as to the particular tax consequences of the exchange offer to such stockholder. The materials have been included as exhibits to Genie's exchange offer statement on Schedule TO, which was filed with the Securities and Exchange Commission.