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Suntech Establishes Collaborative Research Agreement With University of New South Wales

WUXI, China, Nov. 2 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), one of the world's leading manufacturers of photovoltaic (PV) cells and modules, has announced a new collaborative research agreement with the Centre of Excellence for Advanced Silicon Photovoltaics and Photonics at the University of New South Wales, Australia (UNSW). The agreement, which includes a $1.2 million contribution to UNSW, marks the continuation of a long and productive collaboration between the two institutions.

''Suntech's research relationship with the University of New South Wales strives to make solar power an even more attractive clean solution to the world's energy needs,'' said Dr. Zhengrong Shi, Suntech's Chairman and CEO. ''Through our unique collaboration, UNSW students and staff are involved in the complete technology development process, and we are able to transfer new solar technologies to commercial production in a relatively short time.'' Dr. Shi, who received his PhD degree from UNSW in 1992, is a specialist in crystalline silicon solar cell technology and holds 10 patents in the field.

Suntech's contribution will fund the research and development of technology that increases the conversion efficiency of solar cells and decreases solar energy's cost per watt. Suntech and UNSW have already co- developed an advanced screen-printing technology based on the use of semiconductor fingers that enables the production of solar cells with up to 18% solar conversion efficiency. The Company has successfully conducted pilot production using this technology and will begin large scale production by the end of this year.

Suntech and UNSW are currently developing technology that can produce cells with 20% solar conversion efficiency with pilot production planned to begin in 2007. Stuart Wenham, Suntech's Chief Technology Officer and Scientia Professor and Director of the Centre of Excellence for Advanced Silicon Photovoltaics and Photonics at UNSW, will lead the research collaboration.

UNSW is the world record holder in silicon solar cell efficiency and a recognized leader in developing crystalline silicon solar cell technology. In addition to this most recent agreement, Suntech also provides funding for a number of UNSW undergraduate and postgraduate scholarships for training in the area of photovoltaic engineering.

About Suntech

Suntech Power Holdings Co., Ltd. is a leading solar energy company in the world as measured by both production output and capacity of solar cells and modules. Suntech provides solar solutions for a green future. Suntech designs, develops, manufactures, and markets a variety of high quality, cost effective and environmentally friendly PV cells and modules for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech's majority-owned subsidiary, MSK Corporation is one of Japan's largest PV manufacturers and one of the top-ranked companies in the building-integrated photovoltaics (BIPV) space. Suntech's customers are located in various markets worldwide, including key markets throughout Europe, Japan, China and the United States. For more information, please visit .

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. Among other things, Suntech's expectations with respect to their research collaboration with UNSW contain forward-looking 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 more information, please contact:

    In China:
     Steven Chan
     VP of Business Development
     Suntech Power Holdings Co., Ltd.
     Tel:   +86-510-8531-8910

     Rory Macpherson
     Senior Associate
     Ogilvy Public Relations Worldwide
     Tel:   +86-10-8520-6553

    In the United States:
     Thomas Smith
     Senior Vice President
     Ogilvy Public Relations Worldwide
     Tel:   +1-212-880-5269
SOURCE  Suntech Power Holdings Co., Ltd.
    -0-                             11/02/2006
    /CONTACT: In China - Steven Chan, VP of Business Development of Suntech
Power Holdings Co., Ltd., +86-510-8531-8910, or; or Rory
Macpherson, Senior Associate of Ogilvy Public Relations Worldwide, +86-10-
8520-6553, or; In the United States - Thomas Smith,
Senior Vice President of Ogilvy Public Relations Worldwide,
+1-212-880-5269, or /
    /Web Site: /

CO:  Suntech Power Holdings Co., Ltd.
ST:  China, Australia

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4720 11/02/2006 08:00 EST