A-Power Energy Generation Systems, Ltd., Announces That Two Independent Directors Have Resigned

A-Power Energy Generation Systems, Ltd. APWR today announced that two independent directors on its board of directors have resigned, effective June 27, 2011. The board of directors has accepted their resignations. Mr. Remo Richli has resigned as a director of A-Power and as chair of the board's audit committee. Mr. Richli stated that his resignation was based on his understanding of events that occurred over the past few weeks, including the resignation of the Company's independent auditor. He also stated that he did not agree with the course of action that the Company has proposed to take in response to recent events. Mr. Dilip R. Limaye has regretfully resigned as a director of A-Power and as chair of the board's compensation committee. He stated that his decision to resign was prompted by the events of the last several weeks about which he communicated his concerns and views on actions that should be taken. Mr. Jinxiang Lu, A-Power's Chairman and Chief Executive Officer, said, "Regretfully, we have accepted the resignations of Mr. Richli and Mr. Limaye and understand their concerns and reservations. We thank them for their contributions to the board and wish them well as they continue their careers." A-Power has started its search to replace these two independent directors.