CHARTERED HONORS TOP SUPPLIERS

Annual event helps foster deeper collaboration and understanding
between leading foundry and its suppliers to better serve customers

SINGAPORE - FEBRUARY 23, 2001 - Chartered Semiconductor Manufacturing (NASDAQ: CHRT and SGX-ST: Chartered), one of the world's top three silicon foundries, today honored several semiconductor manufacturing equipment, materials and services suppliers with awards for excellence in 2000. The ceremony took place during the Company's annual Supplier Day conference designed to foster greater collaboration and continuity between Chartered and its suppliers toward their common goal of delivering superior service and the highest quality products to customers. Representatives from over 100 suppliers attended this year's event, entitled "Managing the Dynamics - Collaboration" which featured a keynote address by Barry Waite, president & CEO of Chartered.

Chartered presented the Gold award for material suppliers to Tokuyama Asia Pacific Pte. Ltd. The Silver and Bronze awards went to Shipley Company, L.L.C. and Merck Singapore Pte. Ltd respectively and the best overall supplier awards for equipment went to LAM Research Singapore Pte. Ltd. and Canon Singapore Pte. Ltd for their support to the 200mm and 150mm facilities respectively. In addition, Varian Semiconductor Equipment Associates Asia, Ltd and Shipley were recognized for demonstrating the most improvement during the past year. Chartered based its evaluations of award recipients on several criteria, including quality, service, innovation, delivery and cost.

"Just as Chartered is committed to developing long-term, collaborative relationships with our customers, we are committed to developing similar relationships with our suppliers. Their dedication to serving Chartered with excellence in turn enables us to meet the technology innovation and manufacturing flexibility requirements of our customers," said John Docherty, senior vice president, manufacturing operations and technology at Chartered. "Today's event provides an opportunity to publicly acknowledge the achievements of the many companies who have helped make Chartered a leading silicon foundry."

Chartered's suppliers continue to play a key role in the company's success. As part of Chartered's forward-looking strategy, the company will continue to invest in technology to meet the long-term needs of its customers. With a plan to double its capacity in the next three years, Chartered's capital equipment spending is targeted to increase by 30 percent in 2001 to $1.2 billion. In addition, Chartered recently announced plans to bring its largest wafer fabrication project, Fab 7, online as the first 300mm facility in Singapore at an estimated cost of $3.5 billion, with pilot production expected in mid-2002.

Docherty added, "With our capacity expansion underway and the plans for Fab 7 ramping, it is imperative that we work closely with suppliers and use venues like our annual conference to communicate openly about our expectations. With our suppliers' support, we expect to push the technology edge and tap into their worldwide resources for the best possible methods of delivering quality and innovation. "

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.

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 2000 revenues of over US$1.1 billion. More than 4,300 Chartered employees are based at 11 locations around the world. Information about Chartered Semiconductor Manufacturing can be found at www.charteredsemi.com

Safe Harbor Statement under the provisions of the United States Private Securities Litigation Reform
This news release contains forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements, including without limitation, statements relating to our plans for Fab 7 and expected pilot production date; our capital expenditures, production capacity plans; and the appropriateness of our business model and strategy. These statements reflect our current views and are subject to certain risks and uncertainties, which could cause actual results to differ materially from historical results or those anticipated. Among the factors that could cause actual results to differ materially are: the successful implementation of our partnership, technology and supply alliances; unforeseen delays or interruptions in our plans for our fabrication facilities, including Fab 7; the performance level of our fabrication facilities; changes in market outlook and trends; economic conditions in the geographical locations where our customers and their markets are located; customer demands; availability of materials, equipment, manpower and timely regulatory approvals, availability of financings and terms thereof; continued success in technological advances. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained. In addition to the foregoing factors, a description of certain other risks and uncertainties which could cause actual results to differ materially can be found in the section captioned "Risk Factors" in our Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events. We undertake 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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