Equity Interests in Wuxi Suntech and its Subsidiary Purported to be Transferred to Third Party

     Equity Interests in Wuxi Suntech and its Subsidiary Purported to be
                          Transferred to Third Party

Suntech Power and Wuxi Suntech Reach Cooperation Agreement

PR Newswire

GEORGE TOWN, Cayman Islands, April 10, 2014

GEORGE TOWN, Cayman Islands, April 10, 2014 /PRNewswire/ --Suntech Power
Holdings Co., Ltd. (OTC: STPFQ) (the "Company" or "Suntech Power") today
announced that it is aware of the Hong Kong Stock Exchange announcement made
by Shunfeng Photovoltaic International Ltd. ("Shunfeng") that the conditions
precedent to the purported acquisition of 100% of the equity interests of Wuxi
Suntech pursuant to the terms and conditions under the restructuring plan of
Wuxi Suntech as approved by the Wuxi Intermediate People's Court have been
fulfilled, and as a result all of the equity interests of Wuxi Suntech shall
be transferred to an affiliate of Shunfeng.

As of today's date, none of the directors of Power Solar System Co., Ltd.
("PSS"), the joint provisional liquidators (the "JPLs") of Suntech Power
appointed following Suntech Power's application for a provisional liquidation
in the Cayman Islands, its jurisdiction of incorporation, or the liquidator of
PSS, have given their approval to any transfer or disposal of the shares of
Wuxi Suntech. As previously announced on February 10, 2014, the liquidator of
PSS and the JPLs of Suntech Power will continue to focus on an investigation
of, among other things, the purchase of PSS's equity interest in Wuxi Suntech
by Shunfeng and to take all steps as necessary to remedy improper actions
which have caused loss to Suntech Power, PSS, and their creditors.No
assurances can be given, however, that Suntech Power retains equity interest
in Wuxi Suntech, or the benefits having an equity interest entail. Neither
Suntech Power nor the JPLs are currently able to exert management control or
authority over Wuxi Suntech.

Notwithstanding the above, following negotiations by the JPLs with the current
management at Wuxi Suntech, Suntech Power has entered into a Cooperation
Agreement with Wuxi Suntech which provides a framework for the following
(among other things):

  oSuntech Power licenses to Wuxi Suntech certain product certificates held
    by Suntech Power. It is expected, however, that Wuxi Suntech will obtain
    its own product certificates later in 2014 in due course;
  oSuntech Power, including its distribution subsidiaries in the United
    States and Europe, will act as intermediaries for the sale of products
    manufactured by Wuxi Suntech, facilitating Wuxi Suntech entering into
    sales contracts with such customers. For a period of one year, Suntech
    Power would earn a commission from Wuxi Suntech in connection with any
    such sale;
  oFor a period of one year, Suntech Power, including its customer support
    representatives at its subsidiaries in the United States and Europe, would
    provide after-sales service for Wuxi Suntech manufactured products which
    have been sold; and
  oWuxi Suntech would support the restructuring of Suntech Power
    International, Ltd., the principal operating subsidiary of Suntech Power
    in Europe which is currently engaged in a restructuring proceeding under
    Swiss law.

About Suntech

Suntech Power Holdings Co., Ltd. (OTC: STPFQ), through its international
subsidiaries, has delivered more than 25,000,000 photovoltaic panels to over a
thousand customers in more than 80 countries. Suntech's pioneering R&D creates
customer-centric innovations that are designed to drive solar to grid parity
against fossil fuels. Suntech's mission is to provide everyone with reliable
access to nature's cleanest and most abundant energy source.

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 include the
purported transfer of the equity interest in Wuxi Suntech to a third party,
the outcome of the investigation into the purchase of PSS's equity interest in
Wuxi Suntech by Shunfeng, the ability of Suntech Power to earn commissions
from Wuxi Suntech in connection with the distribution of Wuxi Suntech
products, the ability of Suntech Power to provide customer support/after-sales
service for Wuxi Suntech products, and the support to be obtained by Wuxi
Suntech in connection with the restructuring of Suntech Power International,
Ltd.. 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 media enquiries, please contact:

Prue Lawson
Ph: +1 345 914 8662
Email: prue.lawson@ky.pwc.com

Ryan Scott Ulrich
Public Relations and Investor Relations Director
Ph: +86 510 8531 8654
Email: ryan.ulrich@suntech-power.com

SOURCE Suntech Power Holdings Co., Ltd.

Website: http://www.suntech-power.com
 
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