SOURCE: STATS ChipPAC

STATS ChipPAC

March 04, 2009 16:00 ET

STATS ChipPAC Receives Intel's Prestigious Supplier Continuous Quality Improvement Award

SINGAPORE--03/05/2009, UNITED STATES--(Marketwire - March 4, 2009) - STATS ChipPAC Ltd. has received Intel Corporation's prestigious Supplier Continuous Quality Improvement (SCQI) award recognizing world-class, outstanding performance in 2008. This award is Intel's highest honor for its suppliers, acknowledging extraordinary commitment to quality and exceptional performance for providing full turnkey packaging and test services deemed essential to Intel's success. STATS ChipPAC is among an elite group of 14 suppliers to receive the SCQI award for 2008.

"STATS ChipPAC is extremely honored to receive Intel's prestigious SCQI award. This is the second time we have achieved the SCQI award and our third consecutive quality award since adopting Intel's Quality Operating System Plus (QOS+) in 2006. We are proud of the performance results we have achieved and remain dedicated to supporting Intel with best-in-class packaging and test services," said Tan Lay Koon, President and Chief Executive Officer, STATS ChipPAC.

"Our sincere congratulations to STATS ChipPAC for their accomplishments this year. We are pleased to recognize their outstanding contributions and strong commitment to quality, cost reductions, delivery, customer support and alignment to Intel's technology roadmap," said Craig Brown, Vice President, Technology and Manufacturing Group and Director of Materials, Intel Corporation.

The SCQI award is part of Intel's Supplier Continuous Quality Improvement program, which encourages Intel's key suppliers to strive for excellence and continuous improvement. To qualify for SCQI status, suppliers must score at least 95 percent on a report card that assesses performance and ability to meet cost, quality, availability, delivery, technology and responsiveness goals. Suppliers must also manage and deliver on a challenging improvement plan and a quality/business systems assessment. Furthermore, this year's awardees had to demonstrate basic compliance to the Electronic Industry Code of Conduct and Intel's Green Sustainability Program. Additional information about the SCQI program is available at http://supplier.intel.com/quality/scqi.htm.

Celebrations will be held in Tokyo, Japan and Santa Clara, California during the month of March 2009 to honor the SCQI award winners. In addition, there will be an online advertisement launch and acknowledgement on Intel's website.

Forward-Looking Statements

Certain statements in this release are forward-looking statements that involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this release. Factors that could cause actual results to differ include, but are not limited to, general business and economic conditions and the state of the semiconductor industry; level of competition; demand for end-use applications products such as communications equipment and personal computers; decisions by customers to discontinue outsourcing of test and packaging services; our reliance on a small group of principal customers; our continued success in technological innovations; pricing pressures, including declines in average selling prices; availability of financing; prevailing market conditions; our ability to meet the applicable requirements for the termination of registration under the Exchange Act; our ability to meet specific conditions imposed for the continued listing or delisting of our ordinary shares on the Singapore Exchange Securities Trading Limited (SGX-ST); our substantial level of indebtedness; potential impairment charges; delays in acquiring or installing new equipment; adverse tax and other financial consequences if the South Korean taxing authorities do not agree with our interpretation of the applicable tax laws; our ability to develop and protect our intellectual property; rescheduling or canceling of customer orders; changes in our product mix; intellectual property rights disputes and litigation; our capacity utilization; limitations imposed by our financing arrangements which may limit our ability to maintain and grow our business; changes in customer order patterns; shortages in supply of key components; disruption of our operations; loss of key management or other personnel; defects or malfunctions in our testing equipment or packages; changes in environmental laws and regulations; exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; majority ownership by Temasek Holdings (Private) Limited "Temasek" that may result in conflicting interests with Temasek and our affiliates; unsuccessful acquisitions and investments in other companies and businesses; labor union problems in South Korea; uncertainties of conducting business in China and other countries in Asia; natural calamities and disasters, including outbreaks of epidemics and communicable diseases; and other risks described from time to time in the Company's SEC filings, including its annual report on Form 20-F dated March 7, 2008. You should not unduly rely on such statements. We do not intend, and do not assume any obligation, to update any forward-looking statements to reflect subsequent events or circumstances.

About STATS ChipPAC Ltd.

STATS ChipPAC Ltd. 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 SGX-ST. Further information is available at www.statschippac.com. Information contained in this website does not constitute a part of this release.

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Contact Information

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