Chartered Semiconductor Manufacturing Announces Pricing
of Global Initial Public Offering

MILPITAS, Calif, and SINGAPORE -- October 28, 1999 -- Chartered Semiconductor Manufacturing priced the initial public offering of 225,000,000 ordinary shares to be sold directly or in the form of American Depository Shares (ADSs). The Company also priced a concurrent initial public offering of 25,000,000 ordinary shares in Singapore. The Company priced the IPO at US$20.00 per ADS and S$3.34 per ordinary share. Each ADS represents ten ordinary shares.

Chartered’s ADSs are expected to begin trading in the United States on the NASDAQ National Market under the temporary symbol “CHRTV” on October 29, 1999, before assuming their permanent symbol of “CHRT” on November 1, 1999 (New York time). Chartered’s ordinary shares are expected to begin conditional trading on the Stock Exchange of Singapore Limited (SES) on November 1, 1999 (Singapore time).

All 250,000,000 shares are being offered and sold by the Company and will constitute new financing. After the closing of the IPO, Chartered will have a total of 1,238,847,853 ordinary shares (including ordinary shares represented by ADSs) outstanding.

Proceeds of the global offering will be used to fund Chartered’s capital expenditure requirements in connection with the expansion of the company’s manufacturing facilities, to make equity contributions to its jointly owned fabs, for working capital and for general corporate purposes.

Headquartered in Singapore, Chartered is one of the world’s leading independent semiconductor foundries. The Company provides wafer fabrication services and technologies to semiconductor suppliers and manufacturers of electronic systems.

The Company’s global offering is managed by Salomon Smith Barney, Credit Suisse First Boston, Hambrecht & Quist, SG Cowen and SoundView Technology Group, and its Singapore offering is managed by Overseas Union Bank Limited and Citicorp Investment Bank (Singapore) Limited.

Copies of the U.S. final prospectus may be obtained from Salomon Smith Barney Inc., 388 Greenwich Street, New York, New York 10013; telephone 212-816-6000; Credit Suisse First Boston Corporation, Prospectus Department, Eleven Madison Avenue, New York, New York 10010, telephone 212-325-2000; Hambrecht & Quist, LLC., One Bush Street, San Francisco, California 94104, telephone 415-439-3000; SG Cowen Securities Corporation, Prospectus Department, Financial Square, New York, New York 10005, telephone 212-495-6000; SoundView Technology Group, Inc., 22 Gatehouse Road, Stamford, CT 06911, telephone 203-462-7200. Copies of the Singapore final prospectus may be obtained from Overseas Union Bank Limited and Citicorp Investment Bank (Singapore) after the Singapore final prospectus has been lodged with the Registrar of Companies and Businesses in Singapore. Overseas Union Bank Limited can be contacted at 1 Raffles Place, OUB Centre, Singapore 048616, telephone 1-800-224-2000. Citicorp Investment Bank (Singapore) Limited can be contacted at 5 Shenton Way, #37-03/04 UIC Building, Singapore 068808, telephone 220-5533.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State or other Jurisdiction in which such offer solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State or Jurisdiction.