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FOR IMMEDIATE RELEASE
CORPORATE RELEASE
RESIGNATION OF BOARD MEMBER
LEE JOON CHUNG RESIGNS AS MEMBER OF BOARD OF DIRECTORS AND
EXECUTIVE VICE PRESIDENT OF OPERATIONS
SINGAPORE AND MILPITAS, CALIFORNIA, NOVEMBER 10, 2000 -- ST Assembly Test
Services ("STATS" -- Nasdaq: STTS, SGX: ST Assembly) announces the resignation
of Lee Joon Chung (JC Lee) from his concurrent posts as member of the Board of
Directors and Executive Vice President, Operations, effective from December 6,
2000.
Lee, who has been with the company since 1995, is leaving for personal
reasons.
"JC has made significant contributions to the growth of STATS and we will
all miss him," said Tan Bock Seng, STATS Chairman and CEO, who will assume Lee's
responsibilities in the interim. "We understand his reasons for leaving and wish
him every success in the future."
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, 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 has a
current market capitalization in excess of US$1.5 billion. Further information
is available at www.stats.com.sg or www.statsus.com.
Certain of the statements in this press release are forward-looking
statements, that involve a number of risks and uncertainties which 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; decisions by customers to
discontinue outsourcing of test and assembly services; changes in customer order
patterns; rescheduling or cancellation of customer orders; changes in product
mix; capacity utilization; level of competition; pricing pressures; continued
success in technological innovation; delays in acquiring or installing new
equipment; 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,
2000. The Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events, or otherwise.
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MEDIA CONTACTS:
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Lim Beng See Lisa Lavin
Director, Corporate Communications Manager, Marketing
Tel: 65-7511111, Fax: 65-7555431 Tel: 208-9384557, Fax: 888-3907499
email:[email protected] email:[email protected]
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INVESTOR CONTACTS:
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Drew Davies Elaine Ang
Director, Investor Relations Manager, Investor Relations
Tel: (408)941 3021, Fax: (408)941 3014 Tel: (65)751 1738, Fax: (65)755 1585
email:[email protected] email:[email protected]
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