Chartered Reports Results for Second Quarter 2007


All currency figures stated in this report are in US dollars.

The financial statement amounts in this report are determined in accordance with US GAAP.

In order to provide investors additional information regarding the Company's financial results as determined in accordance with US GAAP, in this report Chartered also provides information on its total business base revenues, which include the Company's share of Silicon Manufacturing Partners ("Revenues including Chartered's share of SMP"). Silicon Manufacturing Partners (SMP or Fab 5) is a minority-owned joint-venture company and under US GAAP reporting, SMP revenues are not consolidated into Chartered's revenues ("Revenues"). References to revenues including Chartered's share of SMP in this report are therefore not in accordance with US GAAP. To ensure clarity, in Appendix A of this report we have included a reconciliation table which provides comparable data based on revenues determined in accordance with US GAAP, which do not include the Company's share of SMP.
      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   Six Months Ended
                                    June 30,            June 30,
                                 2006      2007      2006      2007
                               --------- --------- --------- ---------

Net revenue                    $364,829  $324,292  $720,060  $648,088
Cost of revenue                 276,363   264,403   538,816   516,463
                               --------- --------- --------- ---------
Gross profit                     88,466    59,889   181,244   131,625
                               --------- --------- --------- ---------

Other revenue                     5,266     5,590    10,287    11,212

Operating expenses:
  Research and development       37,867    38,511    72,746    76,081
  Sales and marketing            11,933    13,357    25,504    27,602
  General and administrative      9,758     9,680    19,436    19,596
  Other operating expense, net    8,395     2,388     7,721     7,170
                               --------- --------- --------- ---------
       Total operating
        expenses                 67,953    63,936   125,407   130,449
                               --------- --------- --------- ---------

Equity in income of associated
 companies, net                   7,947    10,110    18,117    16,207
Other income (loss), net         (5,274)      810   (12,613)     (241)
Interest expense, net           (10,410)   (8,695)  (25,109)  (16,765)
                               --------- --------- --------- ---------
Income before income taxes       18,042     3,768    46,519    11,589
Income tax expense                5,145    28,477    11,647    30,014
                               --------- --------- --------- ---------
Net income (loss)                12,897   (24,709)   34,872   (18,425)
                               --------- --------- --------- ---------

Less: Accretion to redemption
 value of convertible
 redeemable preference shares     2,358     2,404     4,782     4,785
                               --------- --------- --------- ---------
Net income (loss) available to
 ordinary shareholders         $ 10,539  $(27,113) $ 30,090  $(23,210)
                               ========= ========= ========= =========

Net earnings (loss) per ordinary share and ADS

Basic net earnings (loss) per
 ordinary share                $   0.00  $  (0.01) $   0.01  $  (0.01)
Diluted net earnings (loss)
 per ordinary share            $   0.00  $  (0.01) $   0.01  $  (0.01)

Basic net earnings (loss) per
 ADS                           $   0.04  $  (0.11) $   0.12  $  (0.09)
Diluted net earnings (loss)
 per ADS                       $   0.04  $  (0.11) $   0.12  $  (0.09)

Number of ordinary shares (in millions) used in computing:
  Basic net earnings (loss)
   per ordinary share           2,527.2   2,538.2   2,520.5   2,537.5
  Effect of dilutive
   securities                       8.5         -       7.5         -
                               --------- --------- --------- ---------
  Diluted net earnings (loss)
   per ordinary share                 2,535.7      2,538.2      2,528.0      2,537.5
                                                              =========  =========  =========  =========

Number  of  ADS  (in  millions)  used  in  computing:
    Basic  net  earnings  (loss)
      per  ADS                                                252.7          253.8          252.1          253.8
    Effect  of  dilutive
      securities                                              0.9                  -              0.7                  -
                                                              ---------  ---------  ---------  ---------
    Diluted  net  earnings  (loss)
      per  ADS                                                253.6          253.8          252.8          253.8
                                                              =========  =========  =========  =========
 


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