Cirrus and Chartered Sign Multi-Year Manufacturing Agreement.

Business Editors/High-Tech Writers

AUSTIN, Texas & SINGAPORE--(BUSINESS WIRE)--Nov. 27, 2001

Agreement Establishes Chartered as a Preferred Mixed-Signal

Supplier for Leading Consumer Entertainment Chip Provider

Cirrus Logic Inc. (Nasdaq:CRUS), a premier supplier of high-performance analog and DSP chip solutions for consumer entertainment electronics, and Chartered Semiconductor Manufacturing (Nasdaq:CHRT and SGX-ST:Chartered) announced they have signed a multi-year manufacturing agreement. The agreement was formally signed by David D. French, president and chief executive officer at Cirrus Logic, and Barry Waite, president and CEO of Chartered, during a special ceremony earlier this month. The agreement establishes Chartered as a preferred mixed-signal provider for Cirrus Logic.

Chartered will supply process solutions to Cirrus Logic ranging from 0.35 micron down to 0.10 micron. These Chartered solutions will be used by Cirrus Logic in providing products to the consumer market.

"We are pleased to have established a long-term relationship with Chartered that provides Cirrus Logic with process solutions from a top-tier foundry," said David D. French, president and CEO at Cirrus Logic. "This relationship gives Cirrus Logic a leading mixed-signal process platform from which all of our divisions can plan, develop, and deliver premier products to our customers today and tomorrow."

"Being selected as a preferred long-term mixed-signal provider to a consumer entertainment leader like Cirrus Logic validates Chartered's strategy of providing both technology and business solutions that serve our partners as they grow," said Barry Waite, president and CEO at Chartered. "This agreement goes beyond capacity - it's about providing complete solutions that address specific needs of our customers."

About Cirrus Logic

Cirrus Logic is the premier supplier of high-performance analog and DSP chip solutions for consumer entertainment electronics that allow people to see, hear, connect, and enjoy digital entertainment. Building on its global market share leadership in audio integrated circuits and its rich mixed-signal patent portfolio, the company targets mainstream audio, video and Internet entertainment applications in the consumer entertainment market. Cirrus Logic operates from headquarters in Austin, Texas and major sites located in Fremont and El Dorado Hills, California and Broomfield, Colorado, as well as offices in Europe, Japan and Asia. More information about Cirrus Logic is available at www.cirrus.com.

About Chartered

Chartered Semiconductor Manufacturing is one of the world's top three silicon foundries. The Company's business model is distinguished by its strategy to build trusted long-term relationships, where manufacturing is part of a larger customer-service focus that includes joint development and implementation of new process technologies supporting novel applications within the broad communications market. Chartered operates five semiconductor fabrication facilities at its Singapore headquarters, with a substantially completed sixth fab that is in the process of being equipped as a 300mm facility.

A Company with both global presence and perspective, Chartered is traded on both the Nasdaq Stock Market in the United States (Nasdaq:CHRT) and on the Singapore Exchange Securities Trading Limited in Singapore (SGX-ST:CHARTERED). The Company reported 2000 revenues of over US$1.1 billion. More than 4,300 Chartered employees are based at 12 locations around the world. Information about Chartered Semiconductor Manufacturing can be found at www.charteredsemi.com.

Chartered Safe Harbor Statement under the provisions of the United States Private Securities Litigation Reform Act of 1995

This news release contains forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements, including without limitation, statements relating to our collaborative efforts with Cirrus Logic and the appropriateness of our business model and strategy, reflect our current views with respect to future events, and are subject to certain risks and uncertainties, which could cause actual results to differ materially from historical results or those anticipated. Among the factors that could cause actual results to differ materially are: the difficulties, interruptions or unforeseen delays in the implementation of our collaborative efforts with Cirrus Logic, or changes in market outlook and demand for Cirrus Logic. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained. In addition to the foregoing factors, a description of certain other risks and uncertainties which could cause actual results to differ materially can be found in the section captioned "Risk Factors" in our Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.