National Trades Union Congress Honors Chartered with May Day Model Partnership Award 2009

SINGAPORE - May 27, 2009 - Chartered Semiconductor Manufacturing (Nasdaq: CHRT and SGX-ST: CharteredSC), one of the world's top dedicated semiconductor foundries, received the May Day Model Partnership Award 2009 from Singapore's National Trades Union Congress (NTUC). In the institutional category, the award recognizes institutional partnerships between management, union, workers and the government that help companies overcome challenges during the economic downturn through such actions as cutting costs to preserve jobs, managing excess manpower, creating new capabilities, and promoting and sustaining existing tripartite initiatives.

Representatives for Chartered and United Workers of Electronic & Electrical Industries (UWEEI) jointly received the honor at an award ceremony held May16 at D'Marquee, Downtown East, Singapore. Every year, NTUC recognizes the outstanding achievements of individual workers through the May Day Model Workers Award. This year, NTUC also chose to honor organizations for their efforts to assist employees through challenging times in collaboration with the unions and related government agencies.

"Chartered has been working very closely with UWEEI to explore various cost-cutting measures to preserve jobs since the beginning of the downturn in 2008. The company supports the tripartite guidelines on managing excess manpower and actively responded in sending its workers for training through Skills Programme for Upgrading and Resilience (SPUR). In addition, Chartered kept UWEEI informed regularly about its cost-cutting plans, and this allowed both the company and union sufficient time to discuss how best to help affected workers," said Halimah Yacob, Deputy Secretary-General, NTUC and Executive Secretary, UWEEI. "Given its efforts, Chartered is very deserving of the May Day Model Partnership Award."

"Chartered recognizes the value of our workforce, and we are committed to do all that we can to preserve our workforce and be a responsible employer. We are very glad that the NTUC has acknowledged the strong partnerships between Chartered, UWEEI and our employees to support one another during difficult times," said Ng Seng Huwi, vice president, human resources at Chartered. "We are very grateful for the support and counsel from UWEEI to help us manage our workforce amid the downturn. The collaboration is invaluable. It is indeed a great honor to receive the award together with UWEEI."

Since third quarter of 2008, Chartered had implemented a number of cost-reduction measures such as reducing non-payroll related manufacturing and procurement costs, as well as directing resources to work on various productivity and quality improvement projects. Other actions included implementing a temporary salary reduction and hiring freeze, eliminating overtime, releasing contract positions, and mandating block leave clearance. While Chartered did re-size its workforce as a last-resort measure earlier this year, Chartered worked in consultation with the authorities in Singapore, including UWEEI and the Ministry of Manpower (MOM), as part of its good labor relations practice. Chartered tried to assist affected employees through compensation, appropriate national re-skill training such as the SPUR program and career outplacement assistance.

About Chartered

Chartered Semiconductor Manufacturing Ltd. (Nasdaq: CHRT, SGX-ST: CHARTEREDSC), one of the world's top dedicated semiconductor foundries, offers leading-edge technologies down to 40/45 nanometer (nm), enabling today's system-on-chip designs. The company further serves its customers' needs through a collaborative, joint development approach on a technology roadmap that extends to 22nm. Chartered's strategy is based on open and comprehensive design enablement solutions, manufacturing enhancement strategies, and a commitment to flexible sourcing. In Singapore, the company owns or has an interest in six fabrication facilities, including a 300mm fabrication facility and five 200mm fabrication facilities. Information about Chartered can be found at www.charteredsemi.com.

About UWEEI

Formed on 14 July 1981, the United Workers of Electronic and Electrical Industries (UWEEI) was formally registered with the Registrar of Trade Unions to regulate relations between members and their employers for the following purposes:

a) To promote good industrial relations between members and their employers
b) To improve the working conditions of members or to enhance their economic and social status, and
c) To achieve the raising of productivity for the benefit of members, their employers and the economy of Singapore.