Thursday, May 15, 2008

Canadian Solar Appoints New Chief Financial Officer

JIANGSU, China, May 12 /Xinhua-PRNewswire/ -- Canadian Solar Inc. ("the Company," "Canadian Solar," or "we") (Nasdaq: CSIQ) announced today the board of directors has appointed Mr. Arthur Chien, the current Vice-President, Finance and Secretary of the Company to Chief Financial Officer and Director, effective June 7th, 2008. The appointment of Mr.Chien comes in response to Mr. Bing Zhu's decision to resign as a Director and Chief Financial Officer of the Company.

Mr. Zhu said, "It has been my pleasure to serve as the Chief Financial Officer of Canadian Solar over the past three years. While I have decided to move on and pursue other interests, I remain proud of the progress that has been made during my tenure at the Company. Over the last three years, I have contributed to Canadian Solar's growth from a small private company to a publicly listed corporation with targeted sales of $650 to $750 million for 2008. I believe that the Company is well-positioned to continue its strong growth into the future."

Arthur Chien was a director of Canadian Solar from December 2005 until he joined our management team in September 2007. Prior to his work at Canadian Solar, he was the managing director of Beijing Yinke Investment Consulting Co. Ltd., which provides financial consulting services. Mr.Chien was also the Chief Financial Officer of China Grand Enterprises Inc., a diversified investment holding company based in Beijing, China. Additionally, Mr. Chien has worked in finance, investment and management positions in several companies in China, Canada and Belgium including his appointment in 1995 as the assistant financial controller of the steel corddivision of Bekaert Group in Belgium. In 1996, he took the position of Chief Financial Officer of Bekaert China which operated five joint ventures in China. Mr. Chien graduated from the University of Science and Technologyof China with a Bachelor of Science degree in 1982. He also obtained a master's degree in economics from the University of Western Ontario,London, Ontario, Canada in 1989.

Dr. Shawn Qu, Chairman and CEO of Canadian Solar, commented: "We greatly appreciate the contributions Bing made during his tenure at the Company. He has been with us since before we went public in 2006, and played a critical role in establishing and improving Canadian Solar's financial management and internal control systems. We respect his decision and wish him and his family the very best for the future."

"We are also pleased to have Arthur continue as a member of management in this new role as part of our executive team," said Mr. Qu. "Arthur has been with us for more than two years both as board member and as Vice President, Finance. His experience and background in finance, accountingand operational experience will be invaluable as we move forward."

About Canadian Solar Inc. (Nasdaq: CSIQ)

Founded in 2001, Canadian Solar Inc. (CSI) is a vertically integrated manufacturer of solar cell, solar module and custom-designed solar application products serving customers worldwide. CSI is incorporated in Canada and conducts all of its manufacturing operations in China. Backed by years of experience and knowledge in the solar power market and the silicon industry, CSI has become a major global provider of solar power products for a wide range of applications. For more information, please visit .

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