STATS ChipPAC Appoints Chief Strategy Officer

Business Wire, August 23, 2004

SINGAPORE & MILPITAS, Calif. -- STATS ChipPAC Ltd. ("STATS ChipPAC") (Nasdaq:STTS) (SGX: ST Assembly), a leading independent semiconductor test and advanced packaging service provider, today announced the appointment of Scott J. Jewler as Chief Strategy Officer.

Reporting directly to STATS ChipPAC's President and CEO, Jewler will have overall responsibility for product line management as well as market and technology strategy. In his capacity as Chief Strategy Officer, Jewler will help define STATS ChipPAC's business focus and strategic direction in the various geographic and end markets served. He will ensure effective positioning of STATS ChipPAC's products and services to benefit from technology trends, customer engagements and corporate development.

"I am delighted to welcome Scott to STATS ChipPAC," said Tan Lay Koon, STATS ChipPAC's President and CEO. "Scott brings with him many years of outsourced semiconductor assembly and test experience that is very relevant to STATS ChipPAC. He has more than 15 years of experience managing business line P&L and driving operational efficiency in our industry. His past experience in sales, marketing, manufacturing and technology will be invaluable to STATS ChipPAC as we drive towards profitable growth and position ourselves as one of the world's leading and largest test and assembly providers."

"I am happy to be joining STATS ChipPAC at this exciting point in the company's history," said Jewler. "The outsourced assembly and test market is changing rapidly. STATS ChipPAC is well positioned to create increasing value for their customers and shareholders through leading technology, geographic presence, and a culture of high integrity and teamwork."

Jewler joins STATS ChipPAC from Amkor Technology Inc. where he held various senior management positions including Senior Vice President, Assembly Business Unit and Vice President, Laminate Products. Most recently, Jewler served as President of Amkor Technology Taiwan where he held P&L responsibility for Amkor's Taiwan operations including all sales, marketing, manufacturing, business development and manufacturing support activities. Prior to joining Amkor, he was a Senior Process Engineer and Equipment Engineering Manager with Mitsubishi Semiconductor America, Inc.

Jewler graduated with a Bachelor of Science in Mechanical Engineering from Clemson University, Clemson.

About STATS ChipPAC Ltd. (STATS ChipPAC)

STATS ChipPAC Ltd ("STATS ChipPAC" - NNM: STTS and SGX: ST Assembly), is a leading service provider of semiconductor packaging design, assembly, test and distribution solutions. A trusted partner and supplier to leading semiconductor companies worldwide, STATS ChipPAC's value proposition is total solutions of fully integrated, multi-site, end-to-end assembly and testing solutions that bring products to market and volume faster. Our customers are some of the largest wafer foundries, integrated device manufacturers (IDMs), as well as fabless companies in the United States, Europe and Asia. STATS ChipPAC is a leader in mixed signal testing and advanced packaging technology for semiconductors used in diverse end market applications including communications, power, digital consumer and computing. With advanced process technology capabilities and a global manufacturing presence spanning Singapore, Korea, China, Malaysia, Taiwan and the United States, STATS ChipPAC has a reputation for providing dependable, high quality test and packaging solutions. The Company's customer support offices are located in the Netherlands, China, Singapore, Japan, Taiwan, Korea, Malaysia and the United States (California's Silicon Valley, Arizona, Texas, Massachusetts, Florida, Colorado and North Carolina). STATS ChipPAC's facilities include those of its subsidiary, Winstek Semiconductor Corporation in Hsinchu Valley, Taiwan. These facilities offer new product introduction support, pre-production wafer sort, final test, packaging and other high volume preparatory services. Together with the Company's Test Development Center in Singapore, this forms a global network providing dedicated test engineering development and product engineering support for customers from design to volume production. STATS ChipPAC is listed on both Nasdaq National Market and The Singapore Exchange. In addition, STATS ChipPAC is also listed on the Morgan Stanley Capital International (MSCI) Index and the Straits Times Industrial Index. Further information is available at www.statschippac.com

Certain statements in this press release including statements regarding expected future financial results and industry growth are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. Factors that could cause actual results to differ include the ability of STATS and ChipPAC to successfully integrate their operations and employees; general business and economic conditions and the state of the semiconductor industry; demand for end-use applications products such as communications equipment and personal computers; reliance on a small group of principal customers; decisions by customers to discontinue outsourcing of test and assembly services; changes in customer order patterns; rescheduling or canceling of customer orders; changes in product mix; capacity utilization; level of competition; pricing pressures including declines in average selling prices; continued success in technological innovations; delays in acquiring or installing new equipment; shortages in supply of key components; availability of financing; exchange rate fluctuations; litigation and other risks described from time to time in the Company's SEC filings, including its annual report on Form 20-F dated 19 March 2004 and its Registration Statement on Form F-4 (File Number 333-114232). We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Unless otherwise specified, references to "$" are to the lawful currency of the United States of America.