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Trina Solar Completed Computation of Fair Value of Foreign Exchange Derivative

June 26, 2008

CHANGZHOU, China, June 26 /Xinhua-PRNewswire-FirstCall/ — Trina Solar Limited (“Trina Solar” or the “Company”), a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, founded in 1997, today announced that, in connection with the preparation of its financial statements for the year ended December 31, 2007, the Company has completed the computation of the fair value of a foreign exchange derivative embedded in a material long-term silicon supply contract. This contract provides that the purchase price of the silicon to be acquired shall be denominated in U.S. dollars, which was not the functional currency of either of the contracting parties at the time the contract was entered into. The impact of the foreign exchange derivative was recorded as “gain (loss) on change in fair value of derivative,” a non-cash and non-operating item in the Company’s consolidated statement of operations.

The following is a summary of the Company’s unaudited consolidated statement of operations data for the three months ended March 31, June 30, September 30 and December 31, 2007 and March 31, 2008 and a summary of the Company’s unaudited consolidated balance sheet data as of March 31, June 30, September 30 and December 31, 2007 and March 31, 2008. Such financial information is different from the financial information previously furnished to the Securities and Exchange Commission on Form 6-Ks due to adjustments made in connection with the embedded foreign exchange derivative computation. The Company has prepared the unaudited consolidated financial information on the same basis as its audited consolidated financial statements and in accordance with United States generally accepted accounting principles. Results for the quarterly financial information may not be indicative of the Company’s full year results for 2008 or for future quarterly periods.

For the assumptions and details of the computation relating to the embedded foreign exchange derivative, see “Item 5. Operating and Financial Review and Prospects – Critical Accounting Policies” included in the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2007. The Company’s annual report was filed with the Securities and Exchange Commission on June 26, 2008. See “Item 5. Operating and Financial Review and Prospects” included in the Company’s annual report on Form 20-F for trends and other factors that may influence its results of operations.

                                        For the Three Months Ended                                   March    June     Sept.    Dec.    March                                   31,      30,      30,      31,      31,                                  2007     2007     2007     2007     2008                                                 (in thousands)    Net revenues                 $42,548  $75,305  $82,573 $101,394 $120,671   Cost of revenues              33,040   61,090   65,980   73,796   89,595   Gross profit                   9,508   14,215   16,593   27,598   31,076   Selling expenses               1,593    2,335    3,230    3,860    2,958   General and    administrative expenses       2,671    3,354    5,820    6,533    7,165   Research and development    expenses                        776      439      612      978      749   Total operating expenses       5,040    6,128    9,662   11,371   10,872   Income from continuing    operations                    4,468    8,087    6,931   16,227   20,204   Foreign exchange loss             --       --       --   (1,440)  (4,001)    Interest expenses             (1,202)  (1,632)  (2,081)  (2,636)  (3,473)   Interest income                  392      563    1,494    2,362    1,240   Gain (loss) on change in    fair value of derivative     (1,692)     170      534    1,842       --   Other expenses                  (110)     138      738      502      (25)   Income from continuing    operations before income    taxes                         1,856    7,326    7,616   16,857   13,945   Income tax (expenses)    benefit                       1,158       55      (15)     509   (1,072)   Net income from    continuing operations         3,014    7,381    7,601   17,366   12,873   Gain (loss) from    discontinued operations          67      (20)     170      162       --   Income tax benefit    (expense)                       (18)       7       --       --       --   Net income (loss) from    discontinued operations          49      (13)     170      162       --   Net income attributable    to ordinary shareholders     $3,063   $7,368   $7,771  $17,528  $12,873                                                      As of                               March      June      Sept.     Dec.     March                               31,        30,       30,       31,       31,                              2007       2007      2007      2007      2008                                               (in thousands)    ASSETS   Current assets:    Cash and cash     equivalents           $28,582   $173,494   $92,892   $59,696   $38,210    Restricted cash          6,488     11,249    93,519   103,375   126,027    Inventories             51,740     65,686    51,172    58,548    73,173    Accounts receivable,     net of allowance for     doubtful accounts      42,039     67,856    52,646    72,323    80,484    Other receivable,     net of allowance for     doubtful accounts       3,895      2,573     3,320     3,063     3,978    Advances to suppliers   61,969     37,134    35,713    42,953    63,848    Amounts due from     related parties            --         --        --       614        43    Value-added tax     recoverable             1,218      1,020     1,509     1,417     4,585    Deferred tax assets         85         34       113       380       327    Current assets of     discontinued operations   266        280       230        33        --   Total current assets    196,282    359,326   331,114   342,402   390,675   Property, plant and    equipment, net          65,415     92,725   140,592   197,124   245,431   Intangible assets, net    2,383      2,408     5,114     5,462     5,593   Foreign currency embedded    derivative                  --         --        --       854       854   Advances to suppliers -    long-term                   --     22,795    24,424    53,737    64,449   Deferred tax assets         452        650       761     1,095     1,439   TOTAL ASSETS           $264,532   $477,904  $502,005  $600,674  $708,441     LIABILITIES AND    SHAREHOLDERS' EQUITY   Current liabilities:    Short-term     borrowings, including     current portion of     long-term bank     borrowings              68,915   109,515   122,861   163,563   245,422    Accounts payable         11,320    20,526    22,555    42,691    46,485    Accrued expenses          4,449     3,545     6,245    10,255     9,308    Advances from     customers                  722       384       957     2,371     2,036    Income tax payable          135        84        84     1,406     2,647    Current liabilities     of discontinued     operations                 382       389       364       199        --   Total current    liabilities              85,923   134,443   153,066   220,485   305,898   Long-term bank    borrowings                5,172     5,252        --     8,214    14,247   Accrued warranty costs     1,808     2,602     3,422     4,486     5,858   Long-term payables            --        --        --        --       712   Foreign currency embedded    derivative                1,692     1,522       988        --        --   Total liabilities         94,595   143,819   157,476   233,185   326,715    Shareholders' equity   Ordinary shares ($0.00001    par value)                   22        22        22        26        26   Additional paid-in    capital                 148,760   304,124   304,519   304,878   306,162   Retained earnings         18,685    26,053    33,824    51,352    64,225   Accumulated other    comprehensive income      2,470     3,886     6,164    11,233    11,313   Total shareholders'    equity                  169,937   334,085   344,529   367,489   381,726   TOTAL LIABILITIES AND    SHAREHOLDERS' EQUITY   $264,532  $477,904  $502,005  $600,674  $708,441     About Trina Solar Limited  

Trina Solar Limited , through its wholly-owned subsidiary Changzhou Trina Solar Energy Co. Ltd, 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 currently 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. This integrated value chain helps to ensure that high quality products can be delivered to its end customers around the globe, including a number of European countries, such as Germany, Spain and Italy. Trina Solar’s solar modules provide reliable and environmentally-friendly electric power for residential, commercial, industrial and other applications worldwide. For further information, please visit Trina Solar’s website at http://www.trinasolar.com/ .

   For more information, please contact:    Trina Solar Limited    Sean Shao, CFO    Phone: +86-519-8548-2008 (Changzhou)     Thomas Young, Director of Investor Relations    Phone: +86-519-8548-2008 (Changzhou)    Email: ir@trinasolar.com    CCG Elite Investor Relations    Crocker Coulson, President    Phone: +1-646-213-1915    Email: crocker.coulson@ccgir.com     Ed Job, CFA    Phone: +1-646-213-1914    Email: ed.job@ccgir.com  

Trina Solar Limited

CONTACT: At Trina Solar Limited, Sean Shao, CFO, +86-519-8548-2008 orThomas Young, Director of Investor Relations, +86-519-8548-2008 andir@trinasolar.com; or At CCG Elite Investor Relations, Crocker Coulson,President, +1-646-213-1915 or crocker.coulson@ccgir.com and Ed Job, CFA, +1-646-213-1914 or ed.job@ccgir.com, both for Trina Solar

Web Site: http://www.trinasolar.com/




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