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Suntech Announces Additional Repurchase of $150.4 Million 2012 Convertible Senior Notes

SAN FRANCISCO and WUXI, China, May 8 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest manufacturer of crystalline silicon photovoltaic (PV) modules, today announced that in the first quarter of 2009, Suntech re-purchased $150.4 million aggregate principal amount of its 0.25% convertible senior notes due 2012 for a total cash consideration of $129.9 million. As of May 8, 2009, Suntech had $255.8 million principal amount of its 2012 convertible senior notes outstanding.

Suntech may from time to time seek to make additional repurchases of its convertible senior notes. Such repurchases, if any, will depend on prevailing market conditions, our liquidity requirements and other factors.

About Suntech

Suntech Power Holdings Co., Ltd. (NYSE: STP) is the world's leading solar energy company as measured by production output of crystalline silicon photovoltaic (PV) modules. Suntech designs, develops, manufactures, and markets premium-quality, high-output, cost-effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech's patent-pending Pluto technology for crystalline silicon solar cells improves power output by up to 12% compared to conventional production methods.

Suntech also offers one of the broadest ranges of building-integrated solar products under the MSK Solar Design Line(TM). Suntech designs and delivers commercial and utility scale solar power systems through its wholly owned subsidiaries Suntech Energy Solutions and Suntech Energy Engineering and will own and operate projects greater than 10 megawatts in the United States through Gemini Solar Development Company, a joint venture with Renewable Ventures, a Fotowatio Company. With regional headquarters in China, Switzerland and San Francisco and sales offices worldwide, Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. For more information, please visit http://www.suntech-power.com .

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "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, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in Suntech's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Suntech does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

    For further information, please contact:

    In China:
     Rory Macpherson
     Investor Relations Director
     Tel:   +86-21-6288-5574
     Email: rory@suntech-power.com

    In the United States:
     Sanjay M. Hurry
     Vice President
     The Piacente Group, Inc.
     Tel:   +1-212-481-2050
     Email: suntech@tpg-ir.com

SOURCE  Suntech Power Holdings Co., Ltd.

    -0-                             05/08/2009
    /CONTACT: In China: Rory Macpherson, Investor Relations Director at
+86-21-6288-5574 or rory@suntech-power.com; In the United States: Sanjay M.
Hurry, Vice President, The Piacente Group, Inc. at +1-212-481-2050 or
suntech@tpg-ir.com/
    /Web site: http://www.suntech-power.com /
    (STP)

CO:  Suntech Power Holdings Co., Ltd.; Nitol Solar
ST:  China, California
IN:  OIL ENV
SU:







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4169 05/08/2009 08:15 EDT http://www.prnewswire.com