STR Holdings: Dutch Auction Tender Offer

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EAST WINDSOR, Conn. - STR Holdings, Inc. (NYSE:STRI) announced that it has increased the minimum tender price in its modified "Dutch auction" tender offer (the "Offer") to purchase up to $30,000,000 of shares of its common stock. As a result of comments from the Securities and Exchange Commission, the Company has narrowed the price range of the tender offer to between $1.35 and $1.54 per share. Tendering stockholders may continue to use the Letter of Transmittal which was previously circulated. While that Letter of Transmittal indicates that the Company is offering to pay $1.00 to $1.54 per share, stockholders using that Letter of Transmittal will nevertheless be subject to the increased minimum of $1.35 per share. Any shares previously tendered at a price below $1.35 per share shall be deemed to have been tendered at $1.35 per share.

The Company has also extended the expiration date for the tender offer to 11:59 p.m., New York City time, on March 3, 2014. Tenders of shares must be made prior to the expiration of the tender offer and may be withdrawn at any time prior to the expiration of the tender offer, in each case in accordance with the procedures described in the Offer to Purchase, the Letter of Transmittal and other documents related to the tender offer that have been distributed to stockholders.

The terms of the tender offer are set forth in the Company's Amended Offer to Purchase, dated February 18, 2014 and the related Letter of Transmittal.

Cowen and Company, LLC serves as dealer manager for the tender offer. Georgeson Inc. serves as information agent for the tender offer, and Broadridge Financial Solutions, Inc. serves as depositary for the tender offer. For more information about the tender offer, please contact Georgeson Inc. toll-free at +1 888-877-5373.

While the Company's Board of Directors authorized the tender offer, it has not made and will not be making any recommendation to the Company's stockholders as to whether to tender or refrain from tendering their shares or as to the price or prices at which stockholders may choose to tender their shares. Stockholders must make their own decision as to whether to tender their shares and, if so, how many shares to tender and the price or prices at which to tender them. Stockholders are urged to discuss their decision with their tax advisors, financial advisors and/or brokers.

The discussion of the tender offer contained in this press release is for informational purposes only, and this press release is neither an offer to purchase nor a solicitation of an offer to sell shares. The offer to purchase and the solicitation of the shares will be made only pursuant to the Offer to Purchase, the Letter of Transmittal, and other related materials, which the Company will distribute to stockholders, at no expense to stockholders. Stockholders should read those materials and the documents incorporated therein by reference carefully when they become available because they will contain important information, including the various terms and conditions of the tender offer. The Company will file a Tender Offer Statement on Schedule TO with the U.S. Securities and Exchange Commission (the "SEC"). The Tender Offer Statement, including the Offer to Purchase, the Letter of Transmittal, and other related materials, will also be available to stockholders at no charge on the SEC's website at or from the information agent for the tender offer, Georgeson, Inc. Stockholders are urged to read those materials carefully prior to making any decisions with respect to the tender offer.

About STR

STR Holdings, Inc. is a provider of encapsulants to the photovoltaic module industry. Further information about STR Holdings, Inc. can be obtained via the Company's website at

CONTACT: Joseph C. Radziewicz
         Vice President and Chief Financial Officer
         STR Holdings, Inc.
         (860) 763-7014, x7437
         [email protected]
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