STATS ChipPAC Announces Exercise of Option to Redeem the Outstanding US$3.7 Million Principal Amount of Its Convertible Notes Due 2008


UNITED STATES--(Marketwire - May 6, 2008) - SINGAPORE - 05/06/2008 -- STATS ChipPAC Ltd. ("STATS ChipPAC" or the "Company") (SGX-ST: STATSChP), a leading semiconductor test and advanced packaging service provider, today announced that it has exercised its option to redeem the outstanding US$3.7 million principal amount, representing approximately 3.2% of the original outstanding principal amount, of its zero coupon convertible notes due 2008. The redemption price is equal to US$4.5 million, including accrued interest to the redemption date, which is scheduled on June 6, 2008. The Company intends to fund the redemption with cash on hand. Upon redemption, the Company will promptly deliver the redeemed convertible notes to the trustee under the indenture governing the convertible notes for cancellation.

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). In addition, STATS ChipPAC is included in the Morgan Stanley Capital International (MSCI) Index. Further information is available at www.statschippac.com. Information contained in this website does not constitute a part of this release.

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: