Suntech Establishes US Subsidiary, CEO Joins NYSE Committee

As part of a long-term strategy to establish a major market for its solar modules and solar cells in North America, Suntech Power Holdings Co., Ltd. (NYSE: STP) has established Suntech America, Inc., a wholly-owned Delaware corporation.

Mr. Roger Efird has been named as President of Suntech America, and will also serve on its board of directors. For the last 20 years, Mr. Efird has been actively involved in solar module sales, distribution, and marketing. “Our immediate objectives include the continuation of a regular, dependable supply of solar modules to our existing customers, the establishment of a warehouse facility on the west coast, and pursuing new relationships with US customers,” said Mr. Efird. “The long-term solar wafer supply agreement we recently entered into will better position us to expand our market share in the United States.”

“Suntech is a fast growing player in the solar market, and we are especially interested in the long-term potential of the US market for residential and commercial applications, commented Dr. Zhengrong Shi, Suntech’s Chairman and CEO. Through our US subsidiary, Suntech America, we intend to establish long-term relationships with US companies that share our vision of promoting the uses of alternative energy.

Dr. Zhengrong Shi will join the International Advisory Committee of the New York Stock Exchange (NYSE). NYSE President Catherine Kinney and General Manager James McDonald extended the invitation to join the Committee to Dr. Shi on behalf of the NYSE Group. The International Advisory Committee was formed by the NYSE Board of Directors to provide a forum for select chairmen and CEOs of non-U.S. based companies to advise the NYSE on a range of issues pertaining to the global marketplace.

“This is a great honor for me as well as for Suntech,” remarked Dr. Zhengrong Shi. “I will do my best to help U.S. investors gain a better understanding of Chinese companies, and to assist outstanding Chinese enterprises seeking access to international capital markets.”

Approximately US$400 million was raised through Suntech’s initial public offering (IPO) on the NYSE in December 2006. The IPO was the largest listing for a China-based company in the United States last year.