Contact Information: Investor Relations Contact: Tham Kah Locke Vice President of Corporate Finance Tel: (65) 6824 7788 Fax: (65) 6720 7826 email: Media Contact: Lisa Lavin Deputy Director of Corporate Communications Tel: (208) 939 3104 Fax: (208) 939 4817 email:
STATS ChipPAC Announces Exercise of Conversion Right by Holder of Its 2.5% Convertible Subordinated Notes Due 2008
| Source: STATS ChipPAC
UNITED STATES--(Marketwire - May 21, 2008) - SINGAPORE -- 05/22/2008 -- STATS ChipPAC Ltd.
("STATS ChipPAC" or the "Company") (SGX-ST: STATSChP), a leading
semiconductor test and advanced packaging service provider, today announced
that Singapore Technologies Semiconductors Pte Ltd ("STSPL"), the holder of
all of the Company's outstanding $134.5 million principal amount of 2.5%
convertible subordinated notes due 2008 (the "2.5% Convertible Notes"), has
exercised its right to convert all the 2.5% Convertible Notes into 145.1
million ordinary shares of the Company. The Company expects to issue and
deliver to STSPL the ordinary shares issuable upon conversion of the 2.5%
Convertible Notes on or about May 28, 2008.
About STATS ChipPAC Ltd.
STATS ChipPAC Ltd. ("STATS ChipPAC" or the "Company") (SGX-ST: STATSChP) is
a leading service provider of semiconductor packaging design, assembly,
test and distribution solutions in diverse end market applications
including communications, digital consumer and computing. With global
headquarters in Singapore, STATS ChipPAC has design, research and
development, manufacturing or customer support offices in 10 different
countries. STATS ChipPAC is listed on the Singapore Exchange Securities
Trading Limited ("SGX-ST"). Further information is available at
www.statschippac.com. Information contained in this website does not
constitute a part of this release.