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CHARTERED'S RF CMOS MANUFACTURING PROCESS ACHIEVES FIRST-PASS SUCCESS FOR AMIC TECHNOLOGY'S 2.4 GHz RF TRANSCEIVER

SINGAPORE and MILPITAS, Calif. - September 17, 2001 - Chartered Semiconductor Manufacturing (Nasdaq: CHRT and SGX-ST: Chartered) and AMIC Technology, Inc., a Taiwan-based provider of memory components and application-specific memory design solutions, today announced first silicon for a 2.4 GHz RF transceiver manufactured with Chartered's 0.25-micron RF CMOS process. The high-performance capabilities of Chartered's RF CMOS offerings are targeted by AMIC for advanced communications applications such as wireless local area networks. Chartered, one of the world's top three silicon foundries, is leveraging the proven success of its RF CMOS manufacturing technologies to further strengthen the Company's global market presence.

The outstanding quality and first-pass design success of AMIC's 0.25-micron RF transceiver components are attributed to the highly accurate RF CMOS design kit provided by Chartered, complete with design rules, device modeling and characterization data. The performance of the actual silicon product was very close to simulations performed during design and verification. Based on these positive results, AMIC is currently proceeding with tape out of final product prototypes and expects to ramp up for volume production early in 2002.

"Many of our current and future wireless products rely on a combination of circuits, such as low noise amplifiers, mixers, PLL, and power amplifiers, phase shifters, filters. With the advent of RF CMOS at deep sub-micron technologies, we can now take advantage of mainstream CMOS processes for high- volume, low-cost application products," said David Chang, assistant vice president of the Memory Product Division for AMIC Technology, Inc.

Chang added, "Chartered's 0.25-micron RF CMOS is better than anything we've seen from other foundries. We are very pleased with our 0.25-micron prototype results, and believe that Chartered's RF CMOS greatly extends the application space for silicon-based ICs in the wireless arena, due to the improved speed, power and noise reduction."

RF CMOS Offerings

Chartered's RF CMOS offerings are based on a development strategy that optimizes silicon manufacturing for a broad range of products driven by the convergence of communications, computing and consumer electronics, such as BluetoothTM-based applications and other wireless and RF systems. The RF CMOS module features high-performance transistors and a complete suite of passive components characterized and tuned for RF applications. The suite of passive components includes spiral inductors, Metal Insulator Metal (MIM) capacitors, varactors, and poly-resistors, all of which are integral RF components for system-on-chip implementations.

Chartered's 0.35-micron RF CMOS process has been fully qualified and validated by Oki Electric Industry Company, Ltd. (Oki) in Japan, through the delivery of an RF chip for Oki's Bluetooth™ solution.

Chartered's 0.25-micron RF CMOS process, which has been utilized for the AMIC chip, was jointly developed with Ericsson Microelectronics and features a core voltage of 2.5 volts. The process demonstrates extremely high performance with peak fT of 39 GHz and fmax of 45 GHz. With continuous device scaling, the companies also achieved low device noise through optimized layout with minimal parasitics. A 0.25-micron RF CMOS design kit is now available to all Chartered customers, and it includes RF transistors, passive components and device models jointly developed with Ericsson.

The RF device library and models for Chartered's 0.18-micron RF CMOS process are also available now. In addition, preliminary RF device models for the 0.13-micron RF CMOS process are expected to be available during the fourth quarter of 2001.

Expanding Market for RF CMOS
According to Bruno Guilmart, Chartered's president for Asia Pacific, today's announcement with AMIC Technology follows successful implementations of Chartered's RF CMOS technologies by other global companies, and provides fertile ground for expanding the company's reach into Taiwan and other markets.

"Access to silicon-proven, cost-effective RF CMOS foundry processes is a must for semiconductor product manufacturers targeting wireless and other applications that reflect the growing convergence of computer, communications and consumer products. We fully support AMIC's aggressive pursuit of the market opportunities that RF CMOS offers, and we look forward to bringing the advantages of this low-cost functionality, high-performance technology to other customers," added Guilmart.

The Chartered Express™ 0.25-micron RF CMOS prototyping program has completed a number of manufacturing tape outs for several customers. These tape outs include a high-performance 0.25-micron RF CMOS chip designed by Ericsson Microelectronics as a Bluetooth™ transceiver, which was also verified to be fully functional at first-pass design and first silicon.

The Chartered Express™ RF CMOS 0.18-micron prototyping program has also been launched, with additional trains scheduled for the second half of 2001and beyond. Chartered also has plans to extend its customer prototyping activities for RF CMOS manufacturing processes down to 0.13-micron technologies.

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 in Singapore and has a sixth fab in the process of being developed as a 300mm facility.

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

About AMIC
In 1996 AMIC Technology was established as a memory specialty company after a successful spin-off from the UMC group. AMIC Technology provides its customers with a wide range of memory components and application specific memory design solutions. The Company's memory portfolio is expanding rapidly and already includes SRAM, DRAM, SDRAM, FLASH, OTP and Mask ROM products. With the leading silicon and back-end manufacturers, AMIC Technology provides its customers with very large volume sharing of memory components. By means of AMIC's selective customer marketing approach and professional servicing, AMIC confirms an average delivery cycle of weeks rather then months. AMIC distributes these high quality memory products into a wide spectrum of applications among customers in Europe, Asia and the Americas. More information about AMIC can be found a http://www.amictechnology.com/.

Chartered Safe Harbor Statement under the Provisions of the United States Private Securities Litigation Reform Act of 1995
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 AMIC's production plans utilizing Chartered's RF CMOS design kit; our collaborative efforts development and production plans in connection with the application of our RF CMOS manufacturing process to the various sub-micron technologies mentioned above, reflect our 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. Among the factors that could cause actual results to differ materially are: the difficulties, interruptions or unforeseen delays in the progress and implementation of the above-mentioned collaborative efforts, development and production plans, the introduction of new competing manufacturing technologies, or changes in market outlook and customer demand, specifically in the foundry services and communications segments. 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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