Leadership Changes at Chartered Semiconductor Manufacturing and ST Assembly Test Services Reflect

Singapore Technologies (ST) announced leadership changes at two of its semiconductor companies. Barry Waite will join ST as the president & CEO of Chartered Semiconductor Manufacturing Ltd (Chartered), effective May 18, 1998. He brings more than 25 years of experience in the semiconductor industry, starting with Texas Instruments in 1970, and later with Motorola from 1982. For the past 7 years, he has served as a Motorola senior vice president in the semiconductor products sector. Waite has held regional and product group general manager positions with responsibilities well exceeding $1 billion in sales, involving several thousand people. Most recently, he was general manager of Europe, Middle East and Africa Region for Motorola's semiconductor products sector.

Tan Bock Seng, who has been president of Chartered since 1993, will move to ST Assembly Test Services Pte Ltd (STATS), as chairman and CEO, effective May 18, 1998. Instrumental in the formation of STATS, Tan has provided the strategic direction for the company to achieve profitability in 1997, less than three years after its start in January 1995. With nearly 30 years of semiconductor experience, he joined the ST Group in 1993 as president & CEO of Chartered. He has led Chartered's highly successful metamorphosis from a single 6-inch wafer fabrication plant to one of the world's largest dedicated foundries.

"These appointments provide Chartered and STATS with the executive vision and experience necessary for the next stages of growth at each company," said Ms Ho Ching, president & CEO of ST. "Barry's industry background and his international experience will be valuable in moving Chartered in its next phase of growth. In parallel, with the rapid ramp-up at STATS, we look to Bock Seng to lead STATS' continued growth, as the market volume for manufacturing outsourcing quickens."