SINGAPORE -- May 4, 2000 -- Chartered Semiconductor Manufacturing and the selling shareholders priced the previously announced global offering of ordinary shares to be sold directly or in the form of American Depositary Shares (ADSs) at US$65.00 per ADS and S$11.20 per ordinary share. Each ADS represents 10 ordinary shares.

The number of ordinary shares (including ordinary shares represented by ADSs) to be sold in the follow-on global offering has been reduced from 175,000,000 as previously announced to 135,100,000. 78,000,000 shares are being offered and sold by the Company and will constitute new financing. The selling shareholders are offering 57,100,000 ordinary shares. After the closing of the global offering, the Company will have a total of 1,358,760,547 ordinary shares (including ordinary shares represented by ADSs) outstanding (based off the number of shares outstanding as of 31 March 2000).

Proceeds from the sale of the ordinary shares (including ordinary shares represented by ADSs) offered by the Company in the follow-on global offering will be used to fund a portion of the Company’s capital expenditure requirements for 2001, principally in connection with the construction and equipping of Fab 7 and for general corporate purposes. The Company will not receive any of the proceeds from the sale of ordinary shares (including ordinary shares represented by ADSs) by the selling shareholders.

The global offering is managed by Salomon Smith Barney, Credit Suisse First Boston, Chase H&Q, SG Cowen, Wit SoundView, Overseas Union Bank Limited, and Vickers Ballas & Co. Pte Ltd.

Copies of the U.S. 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; Chase Securities Inc., One Bush Street, San Francisco, California 94104, telephone 415-439-3300; SG Cowen Securities Corporation, Two International Place, Boston, Massachusetts 02110, telephone 617-946-3700; and Wit SoundView Corporation, 22 Gatehouse Road, Stamford, CT 06911, telephone 203-462-7200. Overseas Union Bank Limited can be contacted at 1 Raffles Place, OUB Centre, Singapore 048616, telephone 1-800-224-2000.

About Chartered
Chartered Semiconductor Manufacturing Ltd (Nasdaq: CHRT and SGX-ST: CHARTERED) is one of the world’s leading independent foundries providing wafer fabrication services. Guided by the tenets of trust, service, partnership, advanced technology and stability, the Company aims to provide world-class semiconductor foundry services that enable customers to create and deliver market-leading system-level solutions. Chartered operates five fabrication facilities that serve high-growth, technologically advanced applications such as communications and networking. Headquartered in Singapore, Chartered employs approximately 3400 people at its 11 locations in North America, Asia and Europe. The Company reported 1999 net revenues of US $694.3 million.

No Offering
This news 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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction. The Company’s securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of the Company’s securities to be made in the United States will be made by means of a prospectus that may be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements.