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Chartered Semiconductor and
Broadcom Extend
Relationship with New Agreement
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Agreement for next-generation products extends
relationship between fast growing
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fabless company and leading communications foundry
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MILPITAS, CA and SINGAPORE - September 19, 2000 -- Chartered Semiconductor
Manufacturing (NASDAQ:CHRT; SGX-ST:CHARTERED) has announced a multi-year
agreement with Broadcom Corporation (NASDAQ: BRCM). Today's agreement is yet
another milestone in the two companies' ongoing strategic relationship, which
has existed since in 1996.
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The pact calls for Chartered to supply certain of Broadcom's next three
generations of system solutions for broadband communications markets,
including semiconductor products for cable set-top boxes, cable modems,
high-speed office networks, home networking, direct broadcast satellite and
terrestrial digital broadcast, and digital subscriber line applications. This
agreement also assures Broadcom access to the manufacturing capacity needed to
meet increased demand by customers moving to advanced process
technologies.
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"Our relationship with Chartered has been a cornerstone of our
manufacturing strategy," said Vahid Manian, Broadcom's vice president of
manufacturing operations. "With this agreement and the recent location of our
Asian mixed-signal design center in Singapore, this is a major step towards
geographical diversity for our company."
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"In today's dynamic semiconductor market, the issue is not merely the
availability of raw foundry capacity, but whether companies have the strategic
long-term relationships with foundry providers that can deliver the capacity
and process technology they need. This agreement shows that Broadcom clearly
recognizes this emerging industry trend," said James Feldhan, president of
Semico Research.
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Chartered president for the Americas, Mike Rekuc said, "This agreement
demonstrates Broadcom's continued confidence and trust in Chartered as a
strategic foundry partner. We appreciate this recognition and continue to
build our reputation as a primary foundry source for leading fabless
communications companies."
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About Chartered
Chartered Semiconductor Manufacturing is one of
the world's top three silicon foundries. The Company's business model is
distinguished by its strategy to build trusted long-term relationships, where
manufacturing is part of a larger customer-service focus that includes joint
development and implementation of new process technologies supporting novel
applications within the broad communications market. Chartered operates five
semiconductor fabrication facilities at its Singapore headquarters, with a
sixth fab under construction.
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A company with both global presence and perspective, Chartered is traded
on both the Nasdaq Stock Market in the United States (NASDAQ:CHRT) and on the
Singapore Exchange Securities Trading Limited in Singapore (SGX-ST:CHARTERED).
The Company reported 1999 revenues of US$694.3 million. More than 3400
Chartered employees are based at 11 locations around the world.
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Chartered Safe Harbor Statement under the provisions of the United
States Private Securities Litigation Reform Act of 1995
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This news release contains forward-looking statements, as defined in
the safe harbor provisions of the United States Private Securities Litigation
Reform Act of 1995. These forward-looking statements, including statements
about the multi-year term of the agreement, the on-going strategic
relationship with Broadcom, the appropriateness of Chartered's business
strategy, the assurance of manufacturing capacity for advanced process
technologies and the supply of certain of Broadcom's next three generations of
system solutions, reflect Chartered's current views with respect to future
events and are subject to certain risks and uncertainties, which could cause
actual results to differ materially from historical results or those
anticipated. For example, changes in the market outlook, customer demand, and
availability of materials, equipment and manpower could affect the
above-mentioned forward-looking statements. Although Chartered believes the
expectations reflected in such forward-looking statements are based upon
reasonable assumptions, it can give no assurance that its expectations will be
attained. A description of certain of the risks and uncertainties which could
cause actual results to differ materially from those indicated in the
forward-looking statements can be found in the section captioned "Risk
Factors" in Chartered's Annual Report on Form 20-F filed with the U.S.
Securities and Exchange Commission. Chartered undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise.
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