Analog Devices Awards STATS Top Supplier for 2001; STATS Recognized for Assembly and Test Excellence.

Business Editors/High-Tech Writers

SINGAPORE & MILPITAS, Calif.--(BUSINESS WIRE)--Feb. 20, 2002

ST Assembly Test Services Ltd. ("STATS") (Nasdaq:STTS) and (SGX:ST Assembly), a leading independent semiconductor test and advanced packaging service provider, today announced that it has been named "Assembly And Test Supplier of the Year for 2001" by Analog Devices, Inc.

The ADI Supplier Awards are based on a stringent supplier rating program that focuses on key performance metrics such as cycle time, on-time delivery, yield, quality and customer service. STATS was recognized for its leadership in the assembly and test category.

A driving force behind STATS' achievement of the ADI Supplier Award is an operational excellence initiative that was implemented throughout STATS in 2001. With a focus on high performance and continuous improvement, STATS has achieved measurable success in areas such as cycle time reduction, increased first pass yield, and on-time delivery.

"We are thrilled to receive this prestigious award for excellence from a world class company like ADI. This award recognizes our ability to deliver to ADI's stringent standards. Through the years we have built a strong relationship with ADI and this award is a testimony of our collaborative efforts," said Harry Davoody, STATS President and Chief Executive Officer. "We are honored to be recognized for our contributions to ADI's continued success."

ADI has grown to be one of STATS' top ten global customers. STATS supports multiple manufacturing locations worldwide for ADI and handles a broad range of products. As the strategic partnership has evolved over time, STATS' investments in capacity and capability have given ADI the confidence to bring STATS early into their technology roadmap and to make the test and assembly specialist an integral part of their supply chain.

"The ADI Supplier Awards recognize those companies which have demonstrated outstanding service and a commitment to provide a decisive competitive edge for ADI and our customers," said John Hassett, Vice President of Assembly and Test, ADI.

"We consider STATS a critical member of our team who have continuously demonstrated to us that they share our priorities for quality, delivery, and new technology development. We congratulate STATS on attaining the high performance standards leading to this award."

About Analog Devices

Analog Devices, Inc. (NYSE:ADI) is a leading manufacturer of precision high-performance integrated circuits used in analog and digital signal processing applications. The company is headquartered in Norwood, Massachusetts and employs approximately 9,000 people worldwide. It has manufacturing facilities in Massachusetts, California, North Carolina, Ireland, the Philippines, Taiwan and the United Kingdom. Analog Devices' stock is listed on the New York Stock Exchange and the company is included in the S&P 500 Index. Further information is available at www.analog.com.

About ST Assembly Test Services Ltd. (STATS)

ST Assembly Test Services ("STATS" - NNM: STTS and SGX: ST Assembly), is a leading semiconductor test and assembly service provider to fabless companies, integrated device manufacturers and wafer foundries. With its principal operations in Singapore and global operations in the United States, United Kingdom, Germany, Japan and Taiwan, STATS offers full back-end turnkey solutions to customers worldwide. STATS' expertise is in testing mixed-signal semiconductors, which are extensively used in fast growing communications applications such as data networking, broadband and mobile communications. STATS also offers advanced assembly services and has developed a wide array of traditional and advanced leadframe and laminate based products, including various ball grid array packages to serve some of the world's technological leaders. STATS was listed on the Nasdaq National Market and The Singapore Exchange in January 2000 and is in the Morgan Stanley Capital International (MSCI) Index and the Straits Times Industrial Index. Further information is available at www.stts.com.

Certain of the statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. Factors that could cause actual results to differ include general business and economic conditions and the state of the semiconductor industry; demand for end-use applications products such as communications equipment and personal computers; reliance on a small group of principal customers; decisions by customers to discontinue outsourcing of test and assembly services; changes in customer order patterns; rescheduling or canceling of customer orders; changes in product mix; capacity utilization; level of competition; pricing pressures including declines in average selling prices; continued success in technological innovations; delays in acquiring or installing new equipment; shortages in supply of key components; availability of financing; exchange rate fluctuations; litigation and other risks described from time to time in the Company's SEC filings, including its annual report on Form 20-F dated March 30, 2001. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.