CHARTERED DEVELOPS LOW-POWER PROCESSES WITH STMICROELECTRONICS OPTIMIZED FOR HANDHELD APPLICATIONS

Collaboration leads to delivery of industry's smallest bit-cell size and lowest-leakage performance at 0.18 and 0.13 micron

SINGAPORE - April 19, 2002 -Chartered Semiconductor Manufacturing (Nasdaq: CHRT and SGX-ST: Chartered) today announced it has jointly developed breakthrough low-power processes at 0.18-micron and 0.13-micron technology nodes with STMicroelectronics. These technologies, which are exclusive to ST, initially target handheld, battery-operated applications, such as mobile phones and personal digital assistants; although the processes can also be utilized for other communications, consumer and industrial applications. The joint development is expected to be a multi-year collaboration initially covering the 0.18-micron and 0.13-micron technology nodes.

The first products to use this technology are ST's six-transistor static random access memory (SRAM) chips. The SRAMs feature the industry's smallest bit-cell size and lowest-leakage performance at the 0.18-micron node.

"As electronic products become increasingly pervasive and complex, we're seeing a considerable need for chips with extremely high memory densities and low-power consumption," said Fabio Gualandris, Group Vice President and General Manager, SRAM Division at ST. "By combining ST's design and process expertise with Chartered's capabilities in advanced processes, we are putting in place superior products that fill a tremendous need in the marketplace. We are pleased to work with Chartered as a partner as they provide the right dynamics for supporting ST's aggressive market expansion strategy."

"This combined product offering further validates Chartered's strategy of building long-term relationships with industry leaders to provide world-class solutions. We believe that the end result of our tight collaboration with ST is leading-edge products that are likely to have an immediate impact in the market," said Allan Hughes, president of Chartered, Europe.

About Chartered
Chartered Semiconductor Manufacturing, one of the world's top three silicon foundries, is forging a customized approach to outsourced semiconductor manufacturing by building lasting and collaborative partnerships with its customers. The Company provides flexible and cost-effective manufacturing solutions for customers, enabling the convergence of communications, computing and consumer applications. In Singapore, Chartered operates five fabrication facilities 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 (Nasdaq: CHRT) and on the Singapore Exchange (SGX-ST: CHARTERED). Chartered's 4,000 employees are based at 12 locations around the world. Information about Chartered can be found at www.charteredsemi.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 our strategy of partnering with industry leaders and the impact of our collaboration with STMicroelectronics on the semiconductor market, 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 successful implementation of our collaboration with industry leaders, changes in market outlook and customer demand, particularly at the 0.18-micron technology node and the introduction of competing technologies. 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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