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Ad Hoc Group, Other Supporting Suntech Power Holdings Co. Noteholders Sign Forbearance Agreement With Suntech

  Ad Hoc Group, Other Supporting Suntech Power Holdings Co. Noteholders Sign
  Forbearance Agreement With Suntech

Business Wire

NEW YORK -- March 15, 2013

Bingham McCutchen LLP and Duff & Phelps Securities, LLC represent an ad hoc
group of holders (the “Ad Hoc Group”) of the Convertible Senior Notes (the
"Notes") issued by Suntech Power Holdings Co., Ltd (“Suntech”). The Notes are
due on March 15, 2013 (“Maturity”), and the Ad Hoc Group has been engaged in
discussions with Suntech and other parties for several months regarding the
Maturity and other matters.

In order to continue those discussions, the Ad Hoc Group and other supporting
noteholders, who together hold more than 63% of the Notes, have signed a
forbearance agreement with Suntech, agreeing, among other things, to forbear
from exercising certain rights and remedies concerning the Maturity until May
15th. The Ad Hoc Group’s advisors are in regular discussion with Suntech, its
advisors, and parties onshore in the PRC. The Ad Hoc Group believes that a
consensual restructuring is attainable that will maximize recoveries for all
noteholders.

Bingham McCutchen and Duff & Phelps encourage all holders of the Notes, large
and small, to contact us as indicated below to discuss the situation.

The foregoing shall not be construed as tax, legal, business, financial,
accounting or other advice, and holders of the Notes are encouraged to consult
their own advisors.

Sincerely,

Bingham McCutchen LLP

Mark Fucci
+(852) 3182-1778
mark.fucci@bingham.com

Ronald Silverman
(212) 705-7868
ronald.silverman@bingham.com

Duff & Phelps Securities, LLC

Brian Cullen
(424) 249-1650
brian.cullen@duffandphelps.com

Matthew Gates
(424) 249-1650
matthew.gates@duffandphelps.com

Contact:

Bingham McCutchen LLP
Mark Fucci, +(852) 3182-1778
mark.fucci@bingham.com
or
Ronald Silverman, 212-705-7868
ronald.silverman@bingham.com
or
Duff & Phelps Securities, LLC
Brian Cullen, 424-249-1650
brian.cullen@duffandphelps.com
or
Matthew Gates, 424-249-1650
matthew.gates@duffandphelps.com
 
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