Wholly-Owned Subsidiary of ATIC Issues Notice of Effective Date, Settlement Date & Preference Share Offer Price for Chartered...

Chartered Semiconductor Manufacturing Ltd.(Nasdaq:CHRT)(SGX-ST:CHARTEREDSC):

VOLUNTARY CONDITIONAL CASH OFFER

ATIC International Investment Company LLC(Company Registration No. 1170717)(Incorporated in Abu Dhabi)

to acquire all the convertible redeemable preference shares in issue of

Chartered Semiconductor Manufacturing Ltd.(Company Registration No. 198703584K)(Incorporated in Singapore)

1. INTRODUCTION

ATIC International Investment Company LLC (the "Acquiror") refers to:

(i) the offer letter (the "CRPS Offer Letter") dated 12 October 2009 issued by the Acquiror to the holders (the "Preference Share Holders") of the convertible redeemable preference shares (the "CRPS") in the capital of Chartered Semiconductor Manufacturing Ltd. (the "Company") in relation to the voluntary conditional cash offer (the "Preference Share Offer") to acquire all the CRPS held by the Preference Share Holders on the terms set out in the CRPS Offer Letter;

(ii) the announcement dated 9 December 2009 in relation to the issue of the notice dated 9 December 2009 by the Acquiror to the Preference Share Holders on the expected Effective Date, expected Settlement Date, expected Preference Share Offer Price and expected close of the Preference Share Offer; and

(iii) the announcement dated 16 December 2009 in relation to the issue of the notice dated 16 December 2009 by the Acquiror to the Preference Share Holders on the extension of the Offer Period to 15 January 2010.

Unless otherwise defined, terms used in this Announcement shall have the same meanings as defined in the CRPS Offer Letter.

2. NOTICE OF EFFECTIVE DATE, SETTLEMENT DATE AND PREFERENCE SHARE OFFER PRICE

It is stated in the CRPS Offer Letter that the Acquiror will give notice of the Effective Date, the Settlement Date and the Preference Share Offer Price as soon as possible once the Effective Date has been determined. As stated in the CRPS Offer Letter, the Preference Share Offer is conditional on the Scheme become effective. The Scheme is conditional on the Scheme Conditions being satisfied (or waived, where applicable). The Company has on 18 December 2009 announced that it has lodged a copy of the order of the Court approving the Scheme under Section 210 of the Companies Act (the "Court Order") with the Accounting and Corporate Regulatory Authority of Singapore (the "ACRA"). With the lodgement of the Court Order with the ACRA, the last of the Scheme Conditions has been satisfied and accordingly, the Scheme has on 18 December 2009 become effective. Accordingly, the Acquiror wishes to announce that it has today sent a letter to the Preference Share Holders notifying them of inter alia:

(i) the Effective Date;

(ii) the Settlement Date; and

(iii) the Preference Share Offer Price,

(the "Letter").

A copy of the Letter is attached as an appendix to this Announcement.

3. PREFERENCE SHARE OFFER DECLARED UNCONDITIONAL IN ALL RESPECTS

With the Scheme becoming effective on 18 December 2009, the Acquiror wishes to announce that the Preference Share Offer has become and is hereby declared unconditional in all respects on the date of this Announcement.

The Preference Share Offer is not conditional upon a minimum number of acceptances of the Preference Share Offer being received.

4. PROCEDURES FOR ACCEPTANCE

Preference Share Holders who wish to accept the Preference Share Offer but have not done so should refer to the CRPS Offer Letter and follow the procedures set out therein.

Preference Share Holders should note that the Company does not currently have funds legally available to make payment on any CRPS required at the option of the Preference Share Holders to be redeemed by the Company pursuant to the occurrence of a Fundamental Change (as defined in the Articles of Association of the Company) on the Effective Date ("Fundamental Change Redemption"); accordingly, Preference Share Holders should give due consideration to accepting the Preference Share Offer made by the Acquiror to acquire all the CRPS in issue from the Preference Share Holders on the terms and conditions set out in the CRPS Offer Letter. As mentioned in paragraph 1.9 of the CRPS Offer Letter, the Early Redemption Price for the Fundamental Change Redemption can only be paid out of (i) distributable profits (which the Company does not currently have), (ii) capital, which would require the directors of the Company to sign a solvency statement (which they are not obliged to do), or (iii) proceeds from a fresh issue of Company Shares.

5. RESPONSIBILITY STATEMENT

The directors of the Acquiror and ATIC (including any director who may have delegated detailed supervision of this Announcement) have taken all reasonable care to ensure that the facts stated and the opinions expressed in this Announcement (other than those relating to the Company and its subsidiaries) are fair and accurate and that, where appropriate, no material facts have been omitted from this Announcement, the omission of which would make any statement in this Announcement misleading, and they jointly and severally accept responsibility accordingly. Where any information has been supplied by the Company or has been extracted or reproduced from published or otherwise publicly available sources, the sole responsibility of the directors of the Acquiror and ATIC for such information has been to ensure through reasonable enquiries, that such information has been accurately extracted from such sources or, as the case may be, accurately reflected or reproduced in this Announcement. The directors of the Acquiror and ATIC do not accept any responsibility for any information relating to or opinions expressed by the Company.

BY ORDER OF THE BOARD

Samak AzarDirector18 December 2009

Any enquiries relating to the settlement procedures for the Preference Share Offer should be directed to:

Ross E. MareeThe Bank of New York MellonEmail: ross.maree@bnymellon.comTelephone: +65 6432 0416 (during office hours)

Carol AuThe Bank of New York MellonEmail: carol.au@bnymellon.comTelephone: +65 6432 0252 (during office hours)

APPENDIX

ATIC International Investment Company LLC(Incorporated in Abu Dhabi)(Commercial Registration Number. 1170717)Mamoura Building AMuroor RoadAbu Dhabi, United Arab Emirates

18 December 2009

To: The Holders of Convertible Redeemable Preference Shares of Chartered Semiconductor Manufacturing Ltd.

Dear Sir/Madam

1. Introduction

ATIC International Investment Company LLC (the "Acquiror") refers to:

(iii) the offer letter (the "CRPS Offer Letter") dated 12 October 2009 issued by the Acquiror to the holders (the "Preference Share Holders") of the convertible redeemable preference shares (the "CRPS") in the capital of Chartered Semiconductor Manufacturing Ltd. (the "Company") in relation to the voluntary conditional cash offer (the "Preference Share Offer") to acquire all the CRPS held by the Preference Share Holders on the terms set out in the CRPS Offer Letter;

(iv) the notice dated 9 December 2009 issued by the Acquiror to the Preference Share Holders in relation to the expected Effective Date, expected Settlement Date, expected Preference Share Offer Price and expected close of the Preference Share Offer; and

(v) the notice dated 16 December 2009 issued by the Acquiror to the Preference Share Holders in relation to the extension of the Offer Period to 15 January 2010.

Unless otherwise defined, terms used in this Letter shall have the same meanings as defined in the CRPS Offer Letter.

2. Notice of Effective Date, Settlement Date and Preference Share Offer Price and Preference Share Offer Declared Unconditional in all respects

It is stated in the CRPS Offer Letter that the Acquiror will give notice of the Effective Date, the Settlement Date and the Preference Share Offer Price as soon as possible once the Effective Date has been determined. As stated in the CRPS Offer Letter, the Preference Share Offer is conditional upon the Scheme becoming effective. The Scheme is conditional on the Scheme Conditions being satisfied (or waived, where applicable). The Company has on 18 December 2009 announced that it has lodged a copy of the order of the Court approving the Scheme under Section 210 of the Companies Act (the "Court Order") with the Accounting and Corporate Regulatory Authority of Singapore (the "ACRA"). With the lodgement of the Court Order with the ACRA, the last of the Scheme Conditions has been satisfied and accordingly, the Scheme has on 18 December 2009 become effective. Accordingly, the Acquiror hereby notifies you that:

(a) the Preference Share Offer has become and is hereby declared unconditional in all respects on the date of this letter. The Preference Share Offer is not conditional upon a minimum number of acceptances of the Preference Share Offer being received;

(b) the Effective Date of the Scheme is 18 December 2009;

(c) the Settlement Date in respect of valid acceptances of the Preference Share Offer which are complete in all respects and in accordance with the instructions given in the CRPS Offer Letter or as otherwise waived by the Acquiror and which are received on or before the expiration of the Offer Period shall be:

(i) 28 December 2009, in respect of acceptances received on or before the Effective Date; or

(ii) not later than ten (10) days after the date of receipt by the Acquiror, in respect of acceptances received after the Effective Date; and

(d) the Preference Share Offer Price which is an amount in United States Dollars equal to the Early Redemption Price determined by reference to the Effective Date shall be US$9,777.82, provided that if any dividend or distribution with respect to the CRPS is declared on or after the Announcement Date, and such dividend or distribution is paid or made to Preference Share Holders of record as at any date prior to the Effective Date, the Preference Share Offer Price shall be reduced by the amount of such dividend or distribution. The Preference Share Offer Price will remain the same regardless of whether acceptances are tendered on or prior to the Effective Date or thereafter.

3. Close of the Preference Share Offer

As notified to you on 16 December 2009, the Preference Share Offer will close at 5.30 p.m. (Singapore time) on 15 January 2010, or such later date(s) as may be announced from time to time by and on behalf of the Acquiror by press release or other public announcement on or before 15 January 2010 and unless extended, the Preference Share Offer will no longer be open for acceptance after 5.30 p.m. (Singapore time) on 15 January 2010 and any acceptances received thereafter will be rejected.

4. Procedures for Acceptance

Preference Share Holders who wish to accept the Preference Share Offer but have not done so should refer to the CRPS Offer Letter and follow the procedures set out therein.

5. Responsibility Statement

The directors of the Acquiror and ATIC (including any director who may have delegated detailed supervision of this Letter) have taken all reasonable care to ensure that the facts stated and the opinions expressed in this Letter (other than those relating to the Company and its subsidiaries) are fair and accurate and that, where appropriate, no material facts have been omitted from this Letter, the omission of which would make any statement in this Letter misleading, and they jointly and severally accept responsibility accordingly. Where any information has been supplied by the Company or has been extracted or reproduced from published or otherwise publicly available sources, the sole responsibility of the directors of the Acquiror and ATIC for such information has been to ensure through reasonable enquiries, that such information has been accurately extracted from such sources or, as the case may be, accurately reflected or reproduced in this Letter. The directors of the Acquiror and ATIC do not accept any responsibility for any information relating to or opinions expressed by the Company.

Yours faithfully,

ATIC International Investment Company LLC

Chartered Semiconductor Manufacturing Ltd. (MM) (NASDAQ:CHRT)
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