Usolieximprom

18.03.2009

NITOL Group, LLC has met the public offer terms

On March 17, 2009 NITOL Group, a Limited Liability Company, met the irrevocable public offer terms and paid off the accumulated coupon yield, calculated based on the acquisition date, on the 02 series payable on demand nonconvertible documentary interest-bearing bonds with obligatory centralized storage (state registration number 4-02-36113-R, dated October 26, 2006), which amounted to 29,29 rubles per bond.

Payoff on the 5th coupon yield is scheduled for June 16, 2009.

On March 17, 2009 conditions of the irrevocable public offer were met by NITOL Group LLC. In compliance with the offer terms, the issuer redeemed 2 148 139 bonds at 99,5% of their nominal worth.

Bonds of the given issue were offered for public subscription at the MICEX Stock Exchange on December 19, 2006. The coupon rate determined by the issuer for the whole term of maturity amounts to 11.75%.

“Zenit” Bank is the organizer, underwriter, paying agent and agent on the offer implementation relevant to bonds issue.

Emission documents on the 02 bond series are available on the web-site of NITOL group, LLC www.nitol.ru.

16.02.2009

RUSNANO Supervisory Council approves Corporation’s participation in the NITOL’s polycrystalline silicon project

The Supervisory Council of the Russian Corporation of Nanotechnologies has approved the Corporation’s participation in the Nitol project aiming to construct Russia's first large-scale complex producing polycrystalline silicon and monosilane.

The high technology production complex is to be created under the auspices of NITOL enterprises: Usoliye-Sibirskiy Silicon and Usoliekhimprom, located in Usolie-Sibirskoe, Irkutsk region. The first stage of production has already been launched in December 2008 with 300 tons of output per year in test mode. The core operations with output of 3500 tons per year are set to be running by the end of 2009. The monosilane production with a total yearly output of 200 tons to be reached will be started stage by stage.

The total amount of RUSNANO’s investment in the project is set at 7.5 billion rubles: 3 billion rubles will be offered in the form of guarantees and 4.5 billion via a long-term loan. The loan will be made available in the first and second quarters of 2009. The loan and resources obtained under guarantee will be directed to completing the facilities for the production of polysilicon. Alfa Bank is to be a partner in the project, granting credit to finance the companies’ current needs, and attracting the financial resources under the RUSNANO guarantee.

The new production complex will set up a raw-material base for further development of Russian microelectronics, and it will also become an essential step on the way to forming a new sector of Russian industry - solar energy generation. The project will contribute to the implementation of tasks stated by the government of Russian Federation to increase the amount of renewable resources in producing electricity and guarantee the thrifty use of energy resources.

About Nitol Solar
Nitol Solar is an international Group manufacturing key chemical components for the global Solar Energy industry from an established chemical chlorine and silicon gas facility in the Irtutsk Region, Russia. Nitol Solar’s current and envisaged product groups encompass a number of steps in the photovoltaic value chain from trichlorosilane gas through polycrystalline wafers utilized in solar cells. Nitol Solar’s aim is to become a global leader in the efficient supply of products for the fast growing solar energy industry. For more detailed information please visit Nitol Solar’s website at www.nitolsolar.com

About ROSNANO
The Russian Corporation of Nanotechnologies (RUSNANO) was founded under Federal Law No.139-FZ dated July 19, 2007 for «implementation of the government policy in the sphere of nanotechnologies, innovation infrastructure development in the sphere of nanotechnologies, implementation of projects on creating perspective nanotechnologies and nanoindustry». The Corporation resolves this objective acting as a co-investor in nanotechnological projects with a significant economic or social impact. The Corporation’s financial involvement at early stages of projects reduces risks of its partners – private investors. The Corporation participates in establishment of the nanotechnological infrastructure, such as centers for collective use, business-incubators and early-stage investment funds. RUSNANO chooses the first-priority directions in investment based on long-term development forecasts (foresights) developed by the leading Russian and world experts. In 2007 the Government of the Russian Federation allocated 130 billion rubles for the Corporation’s activity. The management bodies are the Supervisory Council, Board of Directors and CEO. RUSNANO CEO is Anatoly Chubais. More information is available at www.rusnano.com.

About Alfa Bank
Alfa Bank was founded in 1990. Alfa Bank is a universal bank that conducts all main banking operations represented on the financial services market, including the care of private and corporate clients, investment bank business, commercial financing and asset management.
Alfa Bank is one of the largest banks in Russia in terms of asset management and its own capital. According to data held by the IFRS, for the first half of 2008, the total assets of the Alfa Bank Group, including Alpha Bank, subsidiaries and financial companies, was $28.9 billion, joint capital was $2.4 billion, and its credit portfolio excluding reserves was worth $20.2 billion. The net profit for the first half of 2008 was $265.3 million (as of June 30, 2007 - $115.6 million).
As of September 30, 2008, the Alfa Bank serves about 51 000 corporate clients and 2.9 mln. individuals. Moscow, other regions of Russia and foreign countries have seen 338 departments and bank branches open, including subsidiary banks in Kazakhstan and the Netherlands and a financial subsidiary in the USA.

07.02.2009

Nitol Solar has participated in an Innovation Forum

At “Innovation Forum-2009”, held in Irkutsk, Russia, on February 4-6 the Nitol Solar presented a project that would lay down a resource foundation for the solar power industry, microelectronics and other high-tech industries.

The Forum was conducted under the auspices of the Irkutsk region government, research centers and business associations. The Forum discussions focused on the industrial policy, introduction of advanced technologies, output of science-intensive competitive products, step up of innovation activities in the Irkutsk region.

The Forum was attended by Minister of economic development, labor, science and higher school of the Irkutsk region Vladimir Pashkov, Director of the ROSNANO State corporation Regulatory Affairs Victor Ragozin, Rector of the Irkutsk state technical university Ivan Golovnykh, delegates from other research organizations and higher educational institutions.

At a workshop conference on the role of “high technologies in the Irkutsk region economy”, which was conducted within the framework of the Forum, Director of a Nitol enterprise, producing silicon containing materials, Georgy Petrov reported on the “Nitol Innovative project on development of the first in Russia wide-scale polysilicon and monosilane production complex in the Irkutsk region”.

The Innovation Forum agenda included an exhibition, where 35 participants presented innovative products developed by the Universities, research centers and enterprises of the Irkutsk region. Nitol Solar displayed high-tech products at its booth: trichlorosilane, polycrystalline silicon, as well as a solar module made of the polysilicon, produced in Usolie.

16.01.2009

Nitol Solar and the Irkutsk State Technical University join efforts towards establishment of a nanotechnologies network center in the Baikal region

Jersey, January 16, 2009 - Nitol Solar and the Irkutsk State Technical University (IrSTU) signed an agreement on cooperation in the field of development and implementation of nanotechnologies.

The Irkutsk State Technical University has a substantial scientific and technological potential, dynamic innovative educational milieu that provides opportunities for effective advancement of fundamental and applied research. Being a Russian leader in the nanotechnology sphere, the IrSTU founded a Physics and Technology Institute several years ago, and is extensively involved in development of the Baikal Center for nanotechnologies (BCNT). In 2008 the BCNT became the basis for establishment of the Baikal nanotechnology cluster.

Nitol Solar is currently implementing the most large-scale polysilicon project in Russia that will be infrastructural for nanotechnology development in the Russian Federation. Nitol’s products provide the main feedstock for nanotech-based production facilities in such areas as the solar power industry (polysilicon cells and thin-films) and electronic industry (microchips and memory modules).

Rector of the Irkutsk State Technical University Ivan Golovnykh commented on the agreement execution: “It is of particular importance that cooperation of science and business promotes development of a high-tech industry in Russia”.

This agreement provides for cooperation in the scientific, technological and educational spheres as well as in addressing issues, related to commercialization of scientific, technological and innovative results in the nanotechnology sphere, implementation of joint research projects under relevant federal and regional programs, research and development activities, implementation of projects for personnel education and training in nanotechnologies.

Viktor Tulyakov, Nitol director of Public Relations, noted: “Nitol’s project is high-tech and knowledge-intensive, it requires a close and effective cooperation of the Company with the leading research centers, and the Baikal Center for nanotechnologies is one of them”.

“The agreement between the IrSTU and Nitol has become another significant step towards establishment of a Russian nanotechnologies network center in the Baikal region”, - said Vasily Shcherbak, head of the Regional Department of innovations and higher school under the Ministry of economic development, labor, science and higher education.

17.12.2008
NITOL has obtained provisional registration with the European chemical agency
Pursuant to the European Regulations on Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) NITOL obtained provisional registration for its products with the European Chemical Agency.

Six types of Nitol’s products were submitted for approval: polycrystalline silicon, trichlorosilane, silicon tetrachloride, epichlorohydrine, trichloroethylene, calcium carbide. These products were included in the registration database of the European Chemical Agency, each of them was assigned an individual registration number.

The completed registration procedure allows the company to continue product deliveries to the EU countries after January 1, 2009.

About REACH

REACH (Registration, Evaluation, Authorization and Restriction of Chemicals) — regulations on registration, evaluation, authorization and restriction of Chemicals. The regulations came into force on June 1, 2007 with a view to simplify and improve the existing regulatory framework relevant to the use of chemicals in the EU countries. REACH rests heavy responsibility on the industry in order to control human health and environmental risks, stemming from the use of chemicals. Pursuant to the regulations, producers, importers and subsequent users are responsible for the impact on human health and environment, caused by the products they manufacture, market or use, such products should be safe in terms of their impact on human health and environmentally friendly. Detailed information about REACH is available on the web-site: http://echa.europa.eu

16.12.2008
Nitol Group LLC, has met its bond-related liabilities
On December 16th, 2008 Nitol Group, LLC paid off coupon yield for the 4th coupon period on the 02 series payable on demand nonconvertible documentary interest-bearing bonds with obligatory centralized storage (state registration number 4-02-36113-R, dated October 26, 2006); besides, the 6th period coupon yield was paid out and the nominal value of the 1st bond issue (state registration number 4-01-36113-R, dated November 29, 2005) was redeemed.

The coupon yield for the 4th coupon period has been paid to bond holders at the rate of 11.75%, which corresponds to 58.59 rubles per bond. The total sum of paid-out coupon yield has amounted to 128 898 000.00 rubles.

Payoff on the 5th coupon yield is scheduled for June 16, 2009. Bonds of the given issue were offered for public subscription at the MICEX Stock Exchange on December 19, 2006. The coupon rate determined by the issuer for the whole term of maturity amounts to 11.75%.

Besides, payment of the 6th coupon yield and redemption at nominal value of the Nitol Group series 01 bonds were effected on December 16, 2008. Coupon yield of 1% (equal to 4,99 rubles for one bond) for the sixth coupon period was paid to the bond holders. The total sum of paid-off coupon yield and bond redemption at par has amounted to 51 254,49 rubles

10.12.2008
Nitol presented a project on development of polysilicon and monosilane production facilities at the nanotechnologies forum
At the 5th International forum on nanotechnologies «Rusnanotech», held in Moscow on December 3-5, Nitol presented a project on development of polysilicon and monosilane production facilities.

The range of polysilicon and monosilane application in nanotechnologies for the electronic and solar energy industries is steadily expanding. For instance, these materials are used for fabrication of crystalline and thin-film silicon-based solar panels, LCD-screens, wafers and processing layers of integrated circuits (ICs).

The project is implemented at the NITOL production site in Usolye-Sibirskoe, the Irkutsk region.

Phased commissioning of the polysilicon production facility with an aggregate capacity of 3,800 MT is scheduled for 2009. The first polysilicon batches were produced by Nitol in the middle of 2008 and successfully certified by the company’s business customers - the largest enterprises in the global solar energy sector.

In November 2008 Nitol launched the monosilane production project with an aggregate capacity of 200 MT. Commissioning of the first production phase is scheduled for 2010.

Establishment of these production facilities will help provide feedstock for Russian innovative nanotechnologies-related projects.

At the «Rusnanotech» forum the project was presented to Chairman of the State Duma Boris Gryzlov and to Vice-President of the RF Government Sergey Ivanov and merited special mention by director general of "Rosnano" Anatoly Chubais. The company exposition excited a keen interest among the Russian and foreign visitors to the forum.

About the «Rusnanotech» forum

The Forum focused on the outlook for development of nanotechnologies in Russia and worldwide, foreign experience in establishment of national innovative systems, the state and business circles contribution to commercialization of scientific research and development in the field of nanotechnologies. Special attention was devoted to the prospects of nanotechnologies application in various spheres of the economy, ranging from electronics, medicine and biotechnologies to mechanical engineering, oil, gas and chemical industries, as well as to Russian regional programs of nanotechnologies development. Detailed information about the Forum is available on the web-site: www.rusnanoforum.ru

01.12.2008
Nitol Solar and the Krasnoyarsk region Government presented in India the largest-to date Russian project in the Solar energy sector
Moscow, December 1, 2008. At the Russian National Expo, held in India on November 25-28, Nitol Solar and the Administration of the Krasnoyarsk region presented a project of an innovative solar cluster development.

The scope of the project encompasses development in the Krasnoyarsk region of an integrated complex, incorporating sectoral production facilities of various profiles, ranging from quartz-rock mining to solar modules manufacturing. A large-scale polycrystalline silicon production facility – polysilicon being the basic feedstock for solar module production, - will form the cluster core. A project coordination task group, comprising prospective participants of the Cluster project, led by the Government of the Krasnoyarsk region, has already been set up. The project scope will have been implemented by 2015.

Currently, Nitol is implementing the biggest-to date phased “polysilicon project” in Russia: construction of a PCS production facility with the aggregate capacity, totaling 3,800 MT, in the town of Usolie-Sibirskoe, the Irkutsk region. Samples of polysilicon, produced at the Nitol facility, were presented at the Russian National Exhibition in India. Higher-value-added products, such as a PV cell and a solar panel, were displayed at the Nitol booth as well.

The Nitol exposition was visited by the Russian government delegation, headed by Russian industry and trade minister Victor Khristenko. The Minister was familiarized with the advantages of a vertically integrated production scheme within the solar cluster and the outlook for the sector development. In a number of countries solar energy tariffs are expected to reach grid parity within the next three to four years.

The Solar Cluster presentation aroused much interest among the exhibition visitors. The solar energy market in India is growing fast, particularly in view of the recently adopted state programs of the industry incentives.

For instance, in January 2008 a system of feed-in-tariffs was introduced, offering $0.30 KW/h for power, generated by PV installations.

A system of regional subsidies and tax credits for solar projects has been adopted in a number of states. The current installed capacity of 40MW is expected to grow tenfold to reach 420 MW by 2012.

Besides, the adopted in 2007 law on a 20-25% offset for capital investments in new production facilities, relevant to microelectronics and photovoltaics, has brought about a tide of projects, the more significant of them being the establishment of FabCity - an industry cluster - in Hyderabad. The annual capacity of the photovoltaic sector has already exceeded 300MW, and the implementation of the declared projects will enable a production capacity increase up to 1.3GW.

Implementation of the Solar Cluster Project on the Krasnoyarsk region will rank Russia among the world leading players in the solar industry market.

About Nitol Solar

Nitol is the largest producer of key components for the solar energy industry and microelectronics: high-purity trichlorosilane and polysilicon. The NITOL shareholder structure includes IFC Corporation - an institution of the World Bank, Suntech – a global leader in the photovoltaic sector, Ecolive – an investment group. Detailed information about the NITOL is available on web-sites www.nitolsolar.com and www.nitol.ru.

About the project “Development of an innovative solar cluster in the Krasnoyarsk region”
The concept of the Solar Cluster Project consists in development in the Krasnoyarsk region of an integrated complex, incorporating sectoral production facilities of various profiles, ranging from quartz-rock mining to solar modules manufacturing. A large-scale polycrystalline silicon production facility will form the cluster core. The project was initiated by the Krasnoyarsk region Administration and “Rosatom” State Corporation. Nitol has been largely involved in the development of the solar cluster concept.

Chairman of the Russian Government Vladimir Putin, who approved the solar cluster development project in October, recommended to the Government of the Krasnoyarsk region in collaboration with the ROSATOM management to pursue consultations with investors and present to the Russian Government the project economics, specific proposals, the project implementation schedule and the production ramp-up plan by March 1, 2009

13.11.2008
The Russian Federal Agency for science and innovations and Nitol Solar invest in new technologies
The Russian Federal Agency for science and innovations and Nitol Solar have initiated a joint R&D technology project worth RUB 870 mln. The Russian government will invest RUR 260 mln. in the project.

According to Nitol Solar scientific research, the project’s results will be implemented at the Company’s production site by the end of 2010. Dmitry Kotenko, Chief Executive Officer of Nitol Solar, said: “This project will result in two major effects. First, it will improve polysilicon production efficiency and environmental characteristics. Second, it will develop new technologies for photovoltaic, microelectronics and semiconductor industry”.

About Nitol Solar

Nitol Solar is an international Group manufacturing key chemical components for the global Solar Energy industry from an established chemical chlorine and silicon gas facility in the Irtutsk Region, Russia. Nitol Solar’s current and envisaged product groups encompass a number of steps in the photovoltaic value chain from trichlorosilane gas through polycrystalline wafers utilized in solar cells. Nitol Solar’s aim is to become a global leader in the efficient supply of products for the fast growing solar energy industry. For more detailed information please visit Nitol Solar’s website at www.nitol.ru and www.nitolsolar.com.

20.10.2008
Nitol Solar has received public recognition
The Nitol Solar Project on establishment and development of a high-tech PCS production facility in Russia has received public recognition at the 9th Trade and Economic Forum “Innovative ways of enhancing Russia’s competitiveness”, held at the Kremlin Palace of Congresses in Moscow. Dmitry Kotenko, CEO of Nitol Solar, has been awarded a medal of honor “for superior innovative achievements” by the Forum organizing committee. The PCS Project, currently pursued by Nitol Solar, will form a requisite foundation for the development of high-tech industries in Russia, including the solar industry and microelectronics, facilitate research and development in the field of nano-technologies. Dmitry Kotenko, CEO of Nitol Solar, pointed out: “We highly appreciate the public recognition of our efforts, as compliant with the innovative nature of the Russian current economic strategy. The established by Nitol Solar industrial facility will expedite development of high-tech industries and promote competitiveness of the Russian economy”. About Nitol Solar Nitol Solar is an international group of companies, specializing in the production and sale of chemical products, which are key components for the solar energy industry. Production is based at a chemical plant complex, located in the Irkutsk region; the complex produces chlorine-based products, including trichlorosilane which is the main feedstock for polysilicon. Nitol Solar intends to become a leading global supplier of products for the rapidly growing solar energy industry. For more information on Nitol Solar please visit the website at www.nitol.ru and www.nitolsolar.com

13.10.2008
Nitol Solar Supplies Trina Solar with Initial Deliveries of Polysilicon to Manufacture Solar Modules
Initial production volumes of polysilicon supplied by Nitol Solar were used to manufacture solar modules by Trina Solar after undergoing a series of quality tests. Nitol Solar produced the polysilicon in its Usolie-Sibirsky Silicon plant in the Irkutsk region, Russia.

Trina Solar tested the polysilicon through the entire production process from monocrystalline ingots, wafers and cells to solar modules. The results demonstrated compliance of polysilicon made by Nitol Solar with the modern PV requirements.

According to the long-term contract between the companies signed in October 2007, Nitol Solar will deliver polysilicon to Trina Solar starting in 2009 with sufficient quantities to produce over 200 MW of modules in aggregate.

About Nitol Solar

Nitol Solar, part of the Nitol Group, manufactures key chemical components for the global Solar Energy industry from an established chemical chlorine and silicon gas facility in the Irtutsk Region, Russia. Nitol Solar's current and envisaged product groups encompass a number of steps in the photovoltaic value chain from trichlorosilane gas through polycrystalline wafers utilized in solar cells. Nitol Solar's aim is to become a global leader in the efficient supply of products for the fast growing solar energy industry. For more detailed information please visit Nitol Solar's website at http://www.nitolsolar.com

About Trina Solar Limited

Trina Solar Limited (NYSE: TSL) is a well recognized manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that has developed a vertically integrated business model from the production of monocrystalline and multicrystalline ingots, wafers and cells to the assembly of high quality modules. Trina Solar's products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com.

Nitol Solar Companies Group:

Larisa Kazantseva

T. +44 78 94 56 63 52

Pavel Krupnov

T. +44 78 94 56 63 57

08.09.2008
Nitol Solar has participated in the biggest European exhibition and conference on photovoltaic
Nitol Solar has participated in the 23rd European exhibition and conference on photovoltaic – EU PVSEC; the exhibition was held in Valencia, Spain (September 1-5, 2008).

EU PVSEC is an industry event that has been bringing together prominent PV market players, scientists, analysts and key mass media. This annual event is considered to be the biggest PV sector event in Europe and ranks among the three biggest PV-related events in the world. This year over 700 companies participated in the exhibition and the conference was attended by over 4000 delegates.

Nitol takes part in European exhibition and conference second time. In 2007 the Company announced its plans with regards to polysilicon production. This year Nitol Solar sent in the samples of PCS first batches made by the Company at its production facility in Irkutsk region. High quality of polysilicon made by Nitol Solar was certified by independent laboratories and the Company customers.

A series of business meetings was held in the course of exhibition and conference.

About Nitol Solar

Nitol Solar is an international group of companies, specializing in the production and sale of chemical products, which are key components for the solar energy industry. Production is based at a chemical plant complex, located in the Irkutsk region; the complex produces chlorine-based products, including trichlorosilane which is the main feedstock for polysilicon. Nitol Solar intends to become a leading global supplier of products for the rapidly growing solar energy industry. For more information on Nitol Solar please visit the website at www.nitolsolar.com

Nitol Solar Companies Group:

Larisa Kazantseva
T. +44 78 94 56 63 52

Pavel Krupnov
T. +44 78 94 56 63 57

18.08.2008

Suntech Completes Investment in Nitol Solar. Suntech Successfully Tests Initial Batches of Polysilicon

Jersey, San Francisco and Wuxi, China, August 18, 2008 – Suntech Power Holdings Co., Ltd. (NYSE: STP), one of the world’s leading manufacturers of photovoltaic (PV) cells and modules, today announced it has completed the final round of its $100 million in aggregate purchase of a minority interest in Nitol Solar, an independent polysilicon producer. In conjunction with the completion of the transaction, Suntech also announced that it was pleased with the test results from the initial batches of polysilicon that it has received from Nitol.

Suntech’s completion of its minority investment in Nitol Solar coincides with the recently announced $50 million equity investment in and $25 million loan to Nitol Solar from IFC (International Finance Corporation), a member of the World Bank Group. Funds raised from both Suntech and IFC will help Nitol Solar to continue the on schedule construction of its new production facilities in Irkutsk, Russia and achieve its projected annual polysilicon capacity of 3,700 tons in 2009.

“We are pleased to cement our strategic partnership with Nitol and jointly advance the adoption of solar energy as an instrument for sustainable global change,” said Dr. Zhengrong Shi, Suntech’s Chairman and CEO. “This alliance supports our diversified polysilicon procurement strategy to increase visibility on supply while driving towards grid parity.”

“The recent investment in Nitol Solar by IFC validates our view of Nitol as one of the best-positioned new entrant polysilicon producers, both from a technical perspective and now with the financial means to build out their facility. We have already received sample quantities of polysilicon from Nitol and are very pleased with the quality achieved,” added Dr. Shi.

Lance Crist, Senior Manager IFC Oil, Gas and Chemicals, commented, “Our investment in Nitol underscores IFC’s commitment to supporting the growth of renewable energy. Nitol’s technical expertise in the production of key polysilicon inputs and its strategic relationship with Suntech are important reasons why we believe in the success of this project.”

On April 1, 2008, Suntech announced an expansion to the terms of its existing seven-year polysilicon supply agreement with Nitol Solar, which runs from 2009 to 2015. Under the expanded agreement, Nitol had agreed to substantially increase the aggregate committed volumes to be supplied between 2009 and 2015.

Dmitry Kotenko, Chief Executive Officer of Nitol Solar, said, “Suntech has become a valuable partner of Nitol Solar and we are glad to acknowledge success in our on-going relations with one of the leaders in the global solar energy sector. Nitol Solar is committed to generating substantial value for our strategic partners as we execute on our expansion plans and progress in our mission to become cost efficient producers of quality polysilicon.”

About Nitol Solar
Nitol Solar is an international Group manufacturing key chemical components for the global Solar Energy industry from an established chemical chlorine and silicon gas facility in the Irtutsk Region, Russia. Nitol Solar’s current and envisaged product groups encompass a number of steps in the photovoltaic value chain from trichlorosilane gas through polycrystalline wafers utilized in solar cells. Nitol Solar’s aim is to become a global leader in the efficient supply of products for the fast growing solar energy industry. For more detailed information please visit Nitol Solar’s website at http://www.nitolsolar.com

About IFC
IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing private capital in local and international financial markets, and providing advisory and risk mitigation services to businesses and governments. IFC’s vision is that people should have the opportunity to escape poverty and improve their lives. In FY07, IFC committed $8.2 billion and mobilized an additional $3.9 billion through syndications and structured finance for 299 investments in 69 developing countries. IFC also provided advisory services in 97 countries. For more information, visit www.ifc.org.

About Suntech
Suntech Power Holdings Co., Ltd. is a world leading solar energy company as measured by both production output and capacity of solar cells and modules. Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. Suntech designs, develops, manufactures, and markets a variety of high quality, cost effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech offers one of the broadest ranges of BIPV products under the MSK Solar Design LineTM. Suntech has sales offices worldwide and is a market share leader in key global solar markets. 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, and includes Nitol's ability to complete the development of its polysilicon plant, the ability to complete such development without further additional funding, the ability of Nitol to deliver polysilicon supply under its supply agreements, the ability to achieve grid parity, and the quality of polysilicon produced by Nitol. 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 about Suntech, please contact:
In China:
Rory Macpherson
Investor Relations
Tel: +86-21-6288-5574
Email: rory@suntech-power.com

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

For more information about Nitol, please contact:
Larisa Kazantseva
Corporate Communications
Tel. +44 78 94 56 63 52
kazantseva@nitolsolar.com

Jersey and Washington, D.C., July 31, 2008 — Nitol Solar Limited (the Company), an independent polysilicon producer, and IFC, a member of the World Bank Group, today announced that they have signed an agreement under which IFC will invest US$50 mln in Nitol Solar capital as a portion of a total $75 mln financing deal.

Nitol Solar will use this financing to establish its new 3,700 ton solar grade polysilicon facility in Usolie-Sibirskoye, the Irkutsk region, Russia, which is scheduled to be completed in 2009.

Commenting on the transaction Dmitry Kotenko, Nitol Solar CEO said: “We are proud that IFC is becoming our shareholder because IFC is not just a financial investor, but institution with a strong mission aimed at sustainable development. This investment is both a strong endorsement of quality of our business model and recognition of the social and environmental value of our project”.

Somit Varma, IFC Director for Oil, Gas, Mining, and Chemicals said: “Renewables such as solar energy are increasingly becoming alternatives to fossil fuels in many parts of the world given the growing focus on climate change and the rising cost of conventional energy. Nitol Solar’s project will foster growth in the renewables sector and supports IFC strategy to combat climate change”.

IFC is also working with Nitol Solar to enhance its environmental and social practices and assist the company by implementing international best practices in corporate governance.

About Nitol Solar

Nitol Solar is an international group of companies, specializing in the production and sale of chemical products, which are key components for the solar energy industry. Production is based at a chemical plant complex, located in the Irkutsk region; the complex produces chlorine-based products, including trichlorosilane which is the main feedstock for polysilicon. Nitol Solar intends to become a leading global supplier of products for the rapidly growing solar energy industry. For more information on Nitol Solar please visit the website at www.nitolsolar.com

About IFC

IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing private capital in local and international financial markets, and providing advisory and risk mitigation services to businesses and governments. IFC’s vision is that people should have the opportunity to escape poverty and improve their lives. In FY07, IFC committed $8.2 billion and mobilized an additional $3.9 billion through syndications and structured finance for 299 investments in 69 developing countries. IFC also provided advisory services in 97 countries. For more information, visit www.ifc.org.

Nitol Solar Companies Group:

Pavel Krupnov
T. +44 78 94 56 63 57

Larisa Kazantseva
T. +44 78 94 56 63 52

29.07.2008

Implementation of integrated management system at Nitol Solar “Usolie-Siberian Silicon” and “Usoliekhimprom” facilities

Jersey, July, 29 2008 - Nitol Solar has announced implementation of an integrated management system (IMS) at its plants - “Usolie–Siberian Silicon” and “Usoliekhimprom”, located in Usolie-Sibirskoe in the Irkutsk region. The Company is constructing a polysilicon production facility in Usolie-Sibirskoe for use in the solar power industry. “Test-St-Petersburg”, the certification company, confirmed that the Company’s IMS complies with the three international standards: ISO9001, ISO14001 and OHSAS18001. Test-St-Petersburg is an official partner of IQNet Association, the international certification network.

The audit covered the essential processes of the integrated system: policy management, resource management, process monitoring and modification, management discussion and analysis, risk and environmental management, corrective and proactive activities. The auditors considered personnel training to be one of the Company’s great strengths.

Eugene Kazmirovskiy, Chairman of the commission and an auditor for the EOQ (European Organization for Quality) stated: “Nitol Solar demonstrated a mature, efficient and effective integrated management system.” He pointed out that “Nitol Solar is the first company in the Irkutsk region to implement OHSAS18001, rev.2007”.

Nitol Solar CEO, Dmitry Kotenko said: “Implementation of an integrated management system demonstrates the Company’s adherence to the highest international standards of product quality assurance and industrial and environmental safety”.

About Nitol Solar

Nitol Solar is an international group of companies, specializing in the production and sale of chemical products, which are key components for the solar energy industry. Production is based at a chemical plant complex, located in the Irkutsk region; the complex produces chlorine-based products, including trichlorosilane which is the main feedstock for polysilicon. Nitol Solar intends to become a leading global supplier of products for the rapidly growing solar energy industry. For more information on Nitol Solar please visit the website at www.nitolsolar.com

About Test-St-Peterburg

Test-St-Petersburg, LLC, is one of the biggest certifying companies in Russia, recognized as an official partner of IQNet Association, an international certification network.

In March, 21, 2008 Test-St-Petersburg has become a fully-fledged member of IQNet Association and received rights to vote and to participate in all the IQNet General Assembly sessions and standing committees activity.

Test-St-Petersburg is officially accredited by Sincert Association, a member of the International Accreditation Forum (IAF). Accreditation at the IAF facilitates international recognition of certificates, issued by Test-St-Petersburg. More detailed information on the Company is available at http://test-spb.ru

Nitol Solar Companies Group:

Pavel Krupnov
T. +44 78 94 56 63 57

Larisa Kazantseva
T. +44 78 94 56 63 52

04.06.2008
Nitol Solar produced first industrial batch of Polysilicon

Moscow, June 4, 2008 – Nitol Solar announces that it has successfully produced its first industrial batch of Polysilicon at its Russian production site in Usolye-Sibirskoe, Irkutsk Region. Analysis of the product samples testing conducted by Evans Analytical Group (EAG), a leading independent laboratory in the field of material testing, indicates that the quality of the tested polycrystalline silicon complies with the requirements for further utilization in the manufacture of solar wafers.

Dmitry Kotenko, CEO said: “We are delighted that we have now reached stable production and confirmed the high quality of our product. This is an important milestone for our company and also a symbolic event for the whole of Russia’s nascent high tech industry”.

Nitol Solar Companies Group:

Pavel Krupnov
T. +44 78 94 56 63 57

Larisa Kazantseva
T. +44 78 94 56 63 52

29.05.2008
Results of quality tests, conducted on samples of polysilicon, produced by Nitol Solar were obtained

Moscow, May, 27, 2008, Nitol Solar has announced results of quality testing, conducted on samples of polysilicon, produced in Usolie-Sibirskoye, the Irkutsk region.

The sample testing has been undertaken by Evans Analytical Group (EAG), a leading independent laboratory in the field of material testing. Analysis indicated that the quality of tested polycrystalline silicon complies with the polysilicon requirements to be further utilized in solar wafers manufacturing. The said Quality Conformance Statement testifies to a successful completion of yet another Project phase and shows that the polysilicon production has met the preset parameters.

Commenting on the said event, Dmitry Kotenko, CEO of Nitol Solar, has noted that “production of quality products for solar applications is the Company’s priority. High-end technologies and equipment employed, as well as high quality of TCS, produced by the Company – a key raw material for polysilicon production, ensure full quality compliance of the polysilicon, produced by Nitol, with current solar market requirements”.

Nitol Solar Companies Group:

Pavel Krupnov
T. +44 78 94 56 63 57

Larisa Kazantseva
T. +44 78 94 56 63 52

01.04.2008
Nitol Solar and Suntech Expand Polysilicon Supply Agreement

Expansion of Strategic Partnership between Nitol and Suntech

April 1, 2008— Suntech Power Holdings Co., Ltd. (NYSE: STP), one of the world’s leading manufacturers of photovoltaic (PV) cells and modules, and Nitol Solar Ltd., an independent polysilicon producer, today announced an expansion to the terms of their existing seven-year polysilicon supply agreement which runs from 2009 to 2015. Under the expanded agreement, Nitol has agreed to substantially increase the aggregate committed volumes to be supplied between 2009 and 2015.

Suntech recently announced a strategic investment whereby Suntech will acquire newly issued ordinary shares comprising a minority interest in Nitol Solar for a total consideration of up to $100 million, subject to the satisfaction of certain conditions. Suntech has already paid the first $33 million installment of this investment to Nitol Solar. The proceeds from this transaction will enable Nitol Solar to advance the development of its new 3,700 metric ton polysilicon plant based near Irkutsk, Russia which is expected to be completed in 2009. The new facility will utilize advanced polysilicon production equipment and the mature Siemens production technique with advanced recycling process to ensure the clean and safe manufacture of purified polysilicon.

Dr. Zhengrong Shi, Suntech’s Chairman and CEO, said: “The expansion of our supply relationship with Nitol Solar further improves our long term silicon outlook and provides a robust base to rapidly grow our business. With Suntech’s financial strength from the recent capital raising and plans for rapid capacity expansion, we will continue to build relationships with silicon producers that increase our long term cost visibility. We believe that this favorably priced silicon will accelerate our path to grid parity and we are confident that this will drive enormous demand for solar power systems regardless of the subsidy environment. We look forward to solar power becoming an increasingly important part of the global energy mix and meaningfully reducing carbon emissions and the dependence on fossil fuels.”

Dmitry Kotenko, Chief Executive Officer of Nitol Solar said: “Suntech is a highly valued partner and our cornerstone customer, and we are pleased to expand our role as one of their key suppliers. This is another important step in our strategic relationship and we look forward to continuing to build our collaboration. Now that we have a strong order backlog and a diverse customer base, we are concentrating on ramping our first phase polysilicon plant and initiating the production of high-quality polysilicon as soon as possible.”

About Nitol Solar

Nitol Solar is an international Group manufacturing key chemical components for the global Solar Energy industry from an established chemical chlorine and silicon gas facility in the Irtutsk Region, Russia. Nitol Solar’s current and envisaged product groups encompass a number of steps in the photovoltaic value chain from trichlorosilane gas through polycrystalline wafers utilized in solar cells. Nitol Solar’s aim is to become a global leader in the efficient supply of products for the fast growing solar energy industry. For more detailed information please visit Nitol Solar’s website at http://www.nitolsolar.com

About Suntech

Suntech Power Holdings Co., Ltd. is a world leading solar energy company as measured by both production output and capacity of solar cells and modules. Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. Suntech designs, develops, manufactures, and markets a variety of high quality, cost effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech offers one of the broadest ranges of building integrated photovoltaic (BIPV) products under the MSK product line. Suntech has sales offices worldwide and is a market share leader in key global solar markets. 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, and includes the satisfaction of conditions to the $100 million investment, Nitol’s ability to complete the development of its polysilicon plant, the ability of Nitol to deliver polysilicon supply under the amended supply agreement, the ability to achieve grid parity, and future compliance with environmental laws. 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:

Nitol Solar Limited:

Pavel Krupnov
T. +44 78 94 56 63 57

Larisa Kazantseva
T. +44 78 94 56 63 52

Suntech Contacts:

In China:

Rory Macpherson

Tel: +86-510-8531-8922

In the United States:

Sanjay M. Hurry

Tel: +1-212-481-2050

13.03.2008

Nitol Solar and Suntech Announce Strategic Investment. Second Phase of Strategic Cooperation Between the Two Companies

13.03.2008

Nitol Solar and Suntech Announce Strategic Investment. Second Phase of Strategic Cooperation Between the Two Companies

March 13, 2008— Nitol Solar, an independent polysilicon producer, and Suntech Power Holdings Co., Ltd. (NYSE: STP), one of the world’s leading manufacturers of photovoltaic (PV) cells and modules, today announced that they have signed an agreement under which Suntech will acquire newly issued ordinary shares comprising a minority interest in Nitol Solar Ltd. for a total consideration of up to $100 million, subject to the satisfaction of certain conditions.

Nitol Solar is an independent polysilicon producer which already has a diversified customer base and current supply contracts with an aggregate value of $1.5 billion through 2015. Suntech entered into a multi-year first phase supply agreement with Nitol Solar in August 2007 for the supply of committed monthly volumes of polysilicon to Suntech from 2009 to 2015.

Nitol Solar has over 70 years experience in the chemical industry and is in the process of building a plant with a target production capacity of 3,700 metric tons of polysilicon in 2009, based in Siberia, Russia. The Group already produces commercial quantities of trichlorosilane gas, which is a key material used in the production of polysilicon. The investment will enable Nitol Solar to continue development of the plant, which is expected to be completed in 2009.

Dr. Zhengrong Shi, Suntech’s Chairman and CEO, said: “Whilst there are many entrants in the polysilicon industry, we feel Nitol Solar is particularly well positioned due to its long heritage of chemical production. We are delighted to be strengthening our relationship with Nitol Solar at this important point in their development.”

Dr. Shi continued: “Our strong financial base puts Suntech in an excellent position to build strategic partnerships to secure increasing quantities of high-quality polysilicon at prices that we believe will accelerate our progress towards achieving grid parity. These partnerships will also enable us to advance other initiatives to rapidly reduce the cost of solar including the implementation of our high efficiency technology into commercial production, capacity expansion and improvements in our operating efficiency.”

Dmitry Kotenko, Chief Executive Officer of Nitol Solar said: “We are very pleased that Suntech has come on board as a minority shareholder. They are a high quality partner and well respected in the solar energy field. As we move towards completing the new polysilicon production facility, Nitol Solar is further set to enjoy a strong, independent future as a leading supplier to the solar industry.”

Commenting on Suntech’s corporate philosophy, Dr. Shi said: “One of the key principles of Suntech’s corporate philosophy is a commitment to environmentally responsible manufacturing and compliance with environmental laws. We believe Nitol Solar has a similar commitment both in their current operations and development plans. With this mutual commitment and a common goal of producing grid parity solar products, we look forward to a healthy, long term partnership with Nitol Solar.”

Dmitry Kotenko, Chief Executive Officer of Nitol Solar said: “Our new polysilicon production facility will utilize advanced polysilicon production equipment and the mature Siemens production and recycling process to ensure the clean and safe manufacture of purified polysilicon. We look forward to playing an important role in the manufacturing of clean, renewable solar products.”

About Nitol

Nitol Solar is an international Group manufacturing key chemical components for the global Solar Energy industry from an established chemical chlorine and silicon gas facility in the Irtutsk Region, Russia. Nitol Solar’s current and envisaged product groups encompass a number of steps in the photovoltaic value chain from trichlorosilane gas through polycrystalline wafers utilized in solar cells. Nitol Solar’s aim is to become a global leader in the efficient supply of products for the fast growing solar energy industry. For more detailed information please visit Nitol Solar’s website at http://www.nitolsolar.com

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 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, North America, Japan and China. 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, and includes the satisfaction of conditions to the $100 million investment, Nitol’s ability to complete the development of its polysilicon plant, the ability of Nitol to deliver polysilicon supply under its supply agreements, the ability to achieve grid parity, and future compliance with environmental laws. 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:

Nitol Solar Companies Group:

Pavel Krupnov
T. +44 78 94 56 63 57

Larisa Kazantseva
T. +44 78 94 56 63 52

Suntech Contacts:
In China:
Rory Macpherson
Investor Relations Manager
Suntech Power Holdings Co., Ltd.
Tel: +86-510-8531-8922
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

roduction 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 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, North America, Japan and China. 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, and includes the satisfaction of conditions to the $100 million investment, Nitol’s ability to complete the development of its polysilicon plant, the ability of Nitol to deliver polysilicon supply under its supply agreements, the ability to achieve grid parity, and future compliance with environmental laws. 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:

Nitol Solar Companies Group:

Pavel Krupnov
T. +44 78 94 56 63 57

23.01.2008

Nitol Solar Limited announces first polysilicon production

This announcement is an advertisement and not a prospectus. Investors should not subscribe for or purchase any transferable securities referred to in this announcement except on the basis of information in the prospectus to be published by Nitol Solar Limited (“Nitol Solar” or the “Company”) in due course in connection with the admission of its ordinary shares to the Official List of the Financial Services Authority and to trading on London Stock Exchange plc's main market for listed securities. Copies of the prospectus will, following publication, be available from the Company's registered office at PO Box 437, 13 Castle Street, Saint Helier, Jersey, Channel Islands JE4 0ZE. This announcement is not an offer to sell, or a solicitation of an offer to acquire, securities in the United States or in any other jurisdiction.

Nitol Solar Limited (“Nitol Solar” or the "Company"), the vertically integrated chemical and silicon gas company based in Russia’s Irkutsk region, today announces production of the first polysilicon at its new manufacturing plant in Usolye-Sibirskoye, Irkutsk region, Russia. The successful start-up of the CVD reactor commenced on schedule following an 18 month construction programme.

Commenting on the announcement, Dmitry Kotenko, Chief Executive Officer, said:

“The successful launch of the first reactor and production of the first polysilicon according to our timeline is a convincing demonstration of our capacity to implement our plans.”

Nitol Solar Companies Group:

Pavel Krupnov
T. +44 78 94 56 63 57

Larisa Kazantseva
T. +44 78 94 56 63 52

Notes to editors:
Nitol Solar is an international group manufacturing key chemical components for the global solar energy industry from an established chemical chlorine and silicon gas facility in Irkutsk Region, Russia.
Nitol Solar's current and envisaged product groups encompass a number of steps in the photo-voltaic value chain from trichlorosilane gas through polycrystalline silicon to the finished mono and multicrystalline wafers utilised in solar cells.
Nitol Solar's aim is to become a global leader in the efficient production of polysilicon products for the fast-growing solar energy industry. Nitol’s production facility, ‘Usoliekhimprom’, is located in Usolie-Sibirskoe, Irkutsk. It is compliant with international quality and safety standards and ranks among the most environmentally transparent facilities in Russia.
For further information please visit Nitol Solar’s website at http://www.nitolsolar.com

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, THE RUSSIAN FEDERATION OR JAPAN

Forward Looking Statements
This announcement contains “forward-looking” statements. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Company’s control and all of which are based on the Directors’ current beliefs and expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “will”, “could”, “should”, “shall”, “risk”, “intends”, “estimates”, “aims”, “plans”, “predicts”, “continues”, “assumes”, “positioned” or “anticipates” or the negative thereof, other variations thereon or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the Directors or the Company concerning, amongst other things, the results of operations, financial condition, liquidity, prospects, growth and strategies of the Company and the industry in which it operates.

These forward-looking statements and other statements contained in this announcement regarding matters that are not historical facts involve predictions. No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing the Company. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed or implied in such forward-looking statements. The forward-looking statements contained in this announcement speak only as of the date of this document. The Company and its financial advisers expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this document to reflect any change in its expectations or any change in events, conditions or circumstances on which such statements are based unless required to do so by applicable law, the Prospectus Rules, the Listing Rules or the Disclosure and Transparency Rules of the Financial Services Authority.

This announcement does not constitute a recommendation concerning the Global Offering. The price and value of securities can go down as well as up. Past performance is not a guide to future performance. Information in this announcement or any of the documents relating to the Global Offering cannot be relied upon as a guide to future performance. Potential investors should consult a professional advisor as to the suitability of the Global Offering for the individual concerned.

If you are in any doubt about the contents of this document, you should consult a person authorised for the purposes of the Financial Services and Markets Act 2000 who specialises in advising on the acquisition of shares and other securities, if you are resident in the United Kingdom or, if not, from another appropriately authorised independent financial adviser. The value of securities may go up or down. Past performance is not a guide to future performance.

In any EEA Member State that has implemented Directive 2003/71/EC (together with any applicable implementing measures in that Member State, the "Prospectus Directive"), this communication is only addressed to and directed at qualified investors in that Member State within the meaning of the Prospectus Directive.

This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). The Ordinary Shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Ordinary Shares will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

Stabilisation/FSA

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, THE RUSSIAN FEDERATION OR JAPAN.

THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION OR DISTRIBUTION INTO THE UNITED STATES, CANADA, AUSTRALIA, THE RUSSIAN FEDERATION OR JAPAN. THE MATERIAL SET FORTH HEREIN IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED, AND SHOULD NOT BE CONSTRUED, AS AN OFFER OF SECURITIES FOR SALE INTO THE UNITED STATES OR ANY OTHER JURISDICTION. THE SECURITIES OF THE COMPANY DESCRIBED HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (“THE SECURITIES ACT”), OR THE LAWS OF ANY STATE, AND MANY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES, EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION THAT IS NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE LAWS. THERE WILL BE NO PUBLIC OFFERING OF SECURITIES IN THE UNITED STATES.

04.01.2008

Nitol Solar and Evergreen Solar sign polysilicon supply agreement

Moscow, Russia, 4 January 2007 - Nitol Solar Ltd. (the “Company”), an international supplier to the global photovoltaic (“PV”) industry, announced today it has signed an agreement to supply solar grade polysilicon to Evergreen Solar, Inc (“Evergreen”), a US based global technology leader and innovator in the solar industry.

Under the terms of the agreement, the Company will supply Evergreen with solar grade raw polysilicon during a six year period, commencing in 2009. This agreement will enable Evergreen to produce approximately 400 MW over the term of the contract. The agreement provides for the delivery of specified volumes of polysilicon each year at fixed prices.

Commenting on the agreement, Nitol Solar’s Chief Executive Officer, Dmitry Kotenko, said,
“We are very pleased to be appointed suppliers to Evergreen and we look forward to sharing a long and mutually beneficial relationship. This agreement is a further endorsement of Nitol Solar’s capability as we continue to work towards becoming a global leader in the efficient supply of products for the fast-growing solar energy industry.”

Richard G. Chleboski, Vice President Worldwide Expansion of Evergreen Solar said,
“With Nitol’s years of experience as a chemical manufacturer, we view our long-term supply agreement as a valuable source of polysilicon to further accelerate our planned capacity expansion. We believe we are the clear leader in the efficient use of polysilicon and are excited that Nitol recognizes the value of our string ribbon technology to become a long-term partner.”

For more information go to the Company’s website, www.nitolsolar.com or contact

Nitol Solar Companies Group:

Pavel Krupnov
T. +44 78 94 56 63 57

Larisa Kazantseva
T. +44 78 94 56 63 52

About Nitol Solar
Nitol Solar is an international group manufacturing key chemical components for the global Solar Energy industry from an established chemical chlorine and silicon gas facility in Irkutsk Region, Russia.
Nitol Solar's current and envisaged product groups encompass a number of steps in the photo-voltaic value chain from trichlorosilane gas through polycrystalline silicon to the finished mono and multicrystalline wafers utilized in solar cells.
Nitol Solar's aim is to become a global leader in the efficient supply of products for the fast-growing solar energy industry. Nitol’s production facility, ‘Usoliekhimprom’, is located in Usolie-Sibirskoe, Irkutsk region. It is compliant with international quality and safety standards and ranks among the most environmentally transparent facilities in Russia.
For more detailed information please visit Nitol Solar’s website at http://www.nitolsolar.com

About Evergreen Solar, Inc.
Evergreen Solar, Inc. develops, manufactures and markets solar power products using proprietary, low-cost manufacturing technologies. The Company's patented crystalline silicon technology, known as String Ribbon, uses significantly less silicon than conventional approaches. Evergreen Solar's products provide reliable and environmentally clean electric power for residential and commercial applications globally. For more information about the Company, please visit www.evergreensolar.com. Evergreen Solar(R) is a registered trademark and String Ribbon(TM) is a trademark of Evergreen Solar, Inc.

THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION OR DISTRIBUTION INTO THE UNITED STATES, CANADA, AUSTRALIA, THE RUSSIAN FEDERATION OR JAPAN. THE MATERIAL SET FORTH HEREIN IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED, AND SHOULD NOT BE CONSTRUED, AS AN OFFER OF SECURITIES FOR SALE INTO THE UNITED STATES OR ANY OTHER JURISDICTION. THE SECURITIES OF THE COMPANY DESCRIBED HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE LAWS OF ANY STATE, AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES, EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE LAWS. THERE WILL BE NO PUBLIC OFFERING OF SECURITIES IN THE UNITED STATES.

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