Chartered Reports Results for Third Quarter 2005; Fourth Quarter 2005 Revenues Expected to Increase Over 20 Percent Sequentially


About Chartered

Chartered Semiconductor Manufacturing (Nasdaq: CHRT)(SGX-ST:CHARTERED), one of the world's top dedicated semiconductor foundries, offers leading-edge technologies down to 90 nanometer (nm), enabling today's system-on-chip designs. The company further serves the needs of customers through its collaborative, joint development approach on a technology roadmap that extends to 45nm. Chartered's strategy is based on open and comprehensive design enablement solutions, manufacturing enhancement methodologies, and a commitment to flexible sourcing. In Singapore, the company operates a 300mm fabrication facility and four 200mm facilities. Information about Chartered can be found at http://www.charteredsemi.com.

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 outlook for the fourth quarter of 2005; projected revenues and average selling prices (including Chartered's share of SMP), utilization rate, gross profit, net income or profit and earnings per ADS and the expected growth of wafer shipments and revenue (including Chartered's share of SMP); our expectation of revenue contribution from 0.13-micron and below technologies including 90nm; percentage of revenue from (i) 0.13-micron and below technologies and (ii) 90nm as a percentage of our total business base revenues; estimated capacity by fabs for the fourth quarter 2005; our expectation to achieve breakeven point of 75 percent utilization for fourth quarter 2005 reflect our current views with respect to future events and financial performance 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: changes in market outlook and trends, specifically in the foundry services and consumer, computer and communications markets; demands from our major customers, excess inventory and life cycles of specific products; competition from other foundries; unforeseen delays or interruptions in our plans for our fabrication facilities; the performance level of and technology mix in our fabrication facilities; our progress on leading edge products; the successful implementation of our partnership, technology and supply alliances; the timing and rate of the semiconductor market recovery; economic conditions in the United States as well as globally and the growth rate of fabless companies and the outsourcing strategy of integrated device manufacturers. 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 for the year ended December 31, 2004 and the Company's Prospectus Supplement dated July 29, 2005 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.

      CHARTERED SEMICONDUCTOR MANUFACTURING LTD AND SUBSIDIARIES
       UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
     (In thousands of US Dollars, except share and per share data)

                               Determined in accordance with US GAAP

                             Three Months Ended   Nine Months Ended
                                September 30,        September 30,
                               2004      2005      2004       2005
                             --------- --------- --------- ----------
Net revenue                  $257,283  $290,133  $741,523  $ 665,521
Cost of revenue               199,772   253,129   579,462    637,787
                             --------- --------- --------- ----------
Gross profit                   57,511    37,004   162,061     27,734
                             --------- --------- --------- ----------

Operating expenses:
  Research and development     27,703    31,709    89,836     86,700
  Fab start-up costs           11,550         -    23,257     22,697
  Sales and marketing           9,912    11,388    28,812     32,007
  General and administrative    9,109     9,193    25,825     29,079
  Other operating expenses
   (income), net               (4,499)        -     1,028      3,938
                             --------- --------- --------- ----------
       Total operating
        expenses               53,775    52,290   168,758    174,421
                             --------- --------- --------- ----------

Operating income (loss)         3,736   (15,286)   (6,697)  (146,687)
Equity in income (loss) 
 of SMP                        16,057     4,229    37,969     (4,027)
Other income (loss)             2,825    (4,874)   27,532        579
Interest expense, net          (3,606)  (14,062)  (17,339)   (25,089)
Foreign exchange gain
 (loss), net                     (273)      487        22        685
                             --------- --------- --------- ----------
Income (loss) before 
 income taxes                  18,739   (29,506)   41,487   (174,539)
Income tax expense             (2,512)   (5,007)   (8,088)   (11,593)
                             --------- --------- --------- ----------
Net income (loss)            $ 16,227  $(34,513) $ 33,399  $(186,132)
                             ========= ========= ========= ==========

Net earnings (loss) per
 share and ADS

Basic and diluted net
 earnings (loss) per share   $   0.01  $    (0.01)  $      0.01    $      (0.07)
                                                          =========  =========  =========  ==========
Basic  and  diluted  net
  earnings  (loss)  per  ADS          $      0.06    $    (0.14)  $      0.13    $      (0.74)
                                                          =========  =========  =========  ==========
Number  of  shares  (in
  millions)  used  in  computing:
    Basic  net  earnings  (loss)
      per  share                                    2,509.0      2,511.9      2,508.1        2,510.9
    Effect  of  dilutive  options            7.2                  -            10.3                    -
                                                          ---------  ---------  ---------  ----------
    Diluted  net  earnings
      (loss)  per  share                      2,516.2      2,511.9      2,518.4        2,510.9
                                                          =========  =========  =========  ==========
Number  of  ADS  (in  millions)
  used  in  computing:
    Basic  net  earnings  (loss)
      per  ADS                                            250.9          251.2          250.8            251.1
    Effect  of  dilutive  options            0.7                  -              1.0                    -
                                                          ---------  ---------  ---------  ----------
    Diluted  net  earnings
      (loss)  per  ADS                              251.6          251.2          251.8            251.1
                                                          =========  =========  =========  ==========


            CHARTERED  SEMICONDUCTOR  MANUFACTURING  LTD  AND  SUBSIDIARIES
                                  CONDENSED  CONSOLIDATED  BALANCE  SHEETS
                                          (In  thousands  of  US  Dollars)

                                                                  Determined  in  accordance  with  US  GAAP

                                                                                                    As  of
                                                                  -------------------------------------
                                                                              December  31,            September  30,
                                                                                      2004                            2005
                                                                              -------------          -------------
                                                                                                                    (Unaudited)
ASSETS

Cash  and  cash  equivalents                                  $    539,399            $    817,090
Receivables,  net                                                          143,148                  175,464
Inventories                                                                      72,159                  142,034
Other  current  assets                                                    46,761                    34,814
                                                                              --------------        -------------
            Total  current  assets                                      801,467              1,169,402
Investment  in  SMP                                                          93,765                    83,451
Property,  plant  and  equipment,  net                  1,914,515              2,062,808
Technology  licenses,  net                                          121,953                  111,022
Other  non-current  assets                                          158,312                  141,473
            Total  assets                                                $3,090,012            $3,568,156
                                                                              ==============        =============
LIABILITIES  AND  SHAREHOLDERS'  EQUITY

Payables                                                                    $    152,348            $    170,352
Current  installments  of  long-term  debt              352,985                  399,309
Other  current  liabilities                                        118,388                  168,895
                                                                              --------------        -------------
            Total  current  liabilities                            623,721                  738,556
Long-term  debt,  excluding  current
  installments                                                                882,745              1,128,013
Other  non-current  liabilities                                  77,915                  132,517
                                                                              --------------        -------------
            Total  liabilities                                        1,584,381              1,999,086
            Convertible  redeemable  preference
              shares                                                                            -                  248,262

            Shareholders'  equity                                  1,505,631              1,320,808
                                                                              --------------        -------------

            Total  liabilities,  convertible
              redeemable  preference  shares
              and  shareholders'  equity                      $3,090,012            $3,568,156
                                                                              ==============        =============


            CHARTERED  SEMICONDUCTOR  MANUFACTURING  LTD  AND  SUBSIDIARIES
              UNAUDITED  CONDENSED  CONSOLIDATED  STATEMENTS  OF  CASH  FLOWS
                                          (In  thousands  of  US  Dollars)


                                                                  Determined  in  accordance  with  US  GAAP

                                                                                  For  The  Nine    Months  Ended
                                                                                  ----------------------------
                                                                                    September  30,    September  30,
                                                                                            2004                      2005
                                                                                  --------------    -------------
CASH  FLOWS  FROM  OPERATING  ACTIVITIES

Net  income  (loss)                                                        $    33,399        $  (186,132)
Adjustment  to  reconcile  net  income  (loss)
  to  net  cash  provided  by  operating
  activities:
    Equity  in  (income)  loss  of  SMP                              (37,969)                4,027
    Cash  dividends  received  from  SMP                                      -                  6,300
    Depreciation  and  amortization                                327,819              375,236
    Foreign  exchange  loss,  net                                              111                      507
    Gain  on  disposal  of  property,  plant  and
      equipment                                                                        (1,180)                  (264)
    Others                                                                                  5,451                10,040
Changes  in  operating  working  capital:
    Receivables                                                                    (15,806)            (38,464)
    Inventories                                                                    (27,599)            (69,875)
    Other  current  assets                                                    (2,009)                  (569)
    Payables  and  other  current  liabilities              (32,134)              77,730
                                                                                      ------------    -------------
Net  cash  provided  by  operating  activities            250,083              178,536
                                                                                      ------------    -------------

CASH  FLOWS  FROM  INVESTING  ACTIVITIES

Payments  for  property,  plant  and  equipment        (537,034)          (525,010)
Payments  for  technology  licenses                              (35,119)              (6,015)
Payments  for  deposits                                                    (35,000)                        -
Proceeds  from  sale  of  property,  plant  
  and  equipment                                                                    30,254                      319
Receipts  related  to  refund  of  deposits  and
  other  assets                                                                      17,898                45,631
Others                                                                                              -                (2,832)
                                                                                      ------------    -------------
Net  cash  used  in  investing  activities                  (559,001)          (487,907)
                                                                                      ------------    -------------

CASH  FLOWS  FROM  FINANCING  ACTIVITIES

Debt
    Borrowings                                                                      318,000          1,130,068
    Repayments                                                                    (287,312)          (910,172)
Receipts  of  customer  deposits                                            450              120,920
Refund  of  customer  deposits                                                    -                (3,267)
Issuance  of  ordinary  shares                                            1,887                  1,946
Issuance  of  convertible  redeemable
  preference  shares                                                                      -              248,069
Others                                                                                      1,800                          -
                                                                                      ------------    -------------
Net  cash  provided  by  financing  activities              34,825              587,564
                                                                                      ------------    -------------
Net  increase  (decrease)  in  cash  and  cash
  equivalents                                                                    (274,093)            278,193
Effect  of  exchange  rate  changes  on  cash  and
  cash  equivalents                                                                  (111)                  (502)
Cash  and  cash  equivalents  at  the  beginning
  of  the  period                                                                  905,472              539,399
                                                                                      ------------    -------------
Cash  and  cash  equivalents  at  the  end  of  
  the  period                                                                    $  631,268        $    817,090
                                                                                      ============    =============

 


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