MILPITAS, Calif. and SINGAPORE -- November 2, 1999 -- Chartered Semiconductor Manufacturing has announced that the underwriters of its global public offering have exercised the option to purchase 37,500,000 additional ordinary shares, directly or in the form of American Depository Shares (ADSs) to cover over-allotments of the Company's shares. Chartered initiated a global public offering of 250,000,000 ordinary shares, to be purchased directly or in the form of ADSs, on October 28 (New York time) and October 29 (Singapore time). The closing for the aggregate of 287,500,000 ordinary shares (which includes the 37,500,000 ordinary shares to be issued pursuant to the exercise of the over-allotment option) is expected to take place on November 4, 1999.