SOLF Solarfun Power Holdings CO., Ltd. ADS, Each Representing Five Ordinary Shares (MM)

Hoku Materials, Inc., a wholly owned subsidiary of Hoku Scientific, Inc. (NASDAQ: HOKU), established to manufacture and sell polysilicon for the solar market, and Solarfun Power Hong Kong Limited, a subsidiary of Solarfun Power Holdings Co., Ltd. (NASDAQ: SOLF), an established vertically integrated manufacturer of silicon ingots and wafers, and photovoltaic (PV) cells and modules in China, today announced that they have amended their polysilicon supply contract to modify the timing of when Solarfun is obligated to pay Hoku $23 million in additional prepayments for polysilicon, while adjusting Hoku's deadlines for commencing shipments to Solarfun. Pricing, volume, and other material terms of the agreement were unchanged.

Solarfun had already paid Hoku $32 million in prepayments through October 2008. Before the amendment, Solarfun was obligated to pay Hoku $18 million by March 31, 2009, and an additional $5 million by March 31, 2010, as a prepayment for polysilicon products. The amendment provides that the $18 million may be paid in installments, including $5 million that was paid on March 30, 2009, $8 million to be paid in July 2009, and $5 million to be paid in increments of $1 million in August and September 2009, and $3 million in October 2009. The $5 million that was payable on March 31, 2010, is now payable in January 2010. In exchange for Hoku's agreement to adjust the prepayment timing, Solarfun has agreed to extend the date when Hoku is obligated to commence shipments of polysilicon from September 2009 until March 2010. Solarfun has the right to terminate the amended supply agreement if Hoku has not commenced shipments by June 30, 2010, and Hoku has the right to terminate the agreement, and retain all prepayments received, if Solarfun fails to pay any of its future prepayments when due.

"Solarfun is an important relationship," said Dustin Shindo, chairman and chief executive officer of Hoku Scientific. "We were willing to renegotiate the timing of their near-term prepayments to ensure our mutual long-term success. We still plan to commence customer shipments in the second half of 2009; however, delays in customer payments can impact our plant construction schedule, and we appreciate their flexibility in moving our required delivery dates."

"We value Hoku's long-term partnership and appreciate their willingness to renegotiate our existing contract to reflect current prevailing market conditions," said Solarfun's chief executive officer, Harold Hoskens.

About Hoku Scientific, Inc.

Hoku Scientific (NASDAQ: HOKU) is a diversified clean energy technologies company with three business units: Hoku Materials, Hoku Solar and Hoku Fuel Cells. Hoku Materials plans to manufacture, market, and sell polysilicon for the solar market from its plant currently under construction in Pocatello, Idaho. Hoku Solar markets, sells, and installs turnkey photovoltaic systems in Hawaii. Hoku Fuel Cells has developed proprietary fuel cell membranes and membrane electrode assemblies for stationary and automotive proton exchange membrane fuel cells. For more information visit www.hokucorp.com.

Hoku�, Hoku Scientific�, Hoku Solar� and Hoku Fuel Cells(TM) are trademarks of Hoku Scientific, Inc., and Hoku Materials(TM) is a trademark of Hoku Materials, Inc.

About Solarfun

Solarfun Power Holdings Co, Ltd. manufactures silicon ingots and wafers, PV cells and modules, and supplies solar system integration services in China. The Company produces both monocrystalline and multicrystalline silicon cells and modules and sells its products both through third-party distributors and directly to system integrators. The Company was founded in 2004 and its products have been certified to TUV and UL safety and quality standards. http://www.solarfun.com.cn

Forward-Looking Statements

This press release contains forward-looking statements that involve many risks and uncertainties. These statements relate to Hoku Materials' ability to successfully derive revenues from the sale of polysilicon to Solarfun; its ability to engineer and construct a production plant for polysilicon; Hoku Materials' relationship with Solarfun; its ability to manufacture polysilicon; the timing of when Hoku Materials would receive $23 million in prepayments from Solarfun; Hoku Materials' ability to commence customer shipments in the second half of 2009; its ability to meet the polysilicon shipment milestones and quality specifications in its agreement with Solarfun by June 30, 2010, if at all; the quality of polysilicon to be manufactured; Hoku Scientific's future financial performance; its business strategies and plans; and objectives of management for future operations. In some cases, you can identify forward-looking statements by terms such as "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions intended to identify forward looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause Hoku Scientific's actual results, performance, time frames or achievements to be materially different from any future results, performance, time frames or achievements expressed or implied by the forward-looking statements. Given these risks, uncertainties and other factors, you should not place undue reliance on these forward-looking statements. In evaluating these statements, you should specifically consider the risks described in Hoku Scientific's filings with the Securities and Exchange Commission. Except as required by law, Hoku Scientific assumes no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

For more information contact: Hoku Scientific, Inc. 1288 Ala Moana Blvd., Honolulu, Hawaii, 96814, USA Tel: +1-808-682-7800 Email: Email Contact www.hokucorp.com CONTACTS for Solarfun Power Holdings Co., Ltd. Paul Combs 86 21-6393-8206 Mobile: 86 138 1612 2768 V.P. Strategic Planning Email Contact or Christensen Kathy Li 480 614 3036 Email Contact or Roger Hu 852 2117 0861 Email Contact