STATS ChipPAC CEO Named Asia Innovator of the Year at the CNBC Asia Business Leaders Awards

STATS ChipPAC Ltd. ("STATS ChipPAC" or the "Company") (SGX-ST: STATSChP) (SES: S24), a leading semiconductor test and advanced packaging service provider, today announced Mr. Tan Lay Koon, President and Chief Executive Officer of STATS ChipPAC, has been named Asia Innovator of the Year at the 7th CNBC Asia Business Leaders Awards (ABLA).

Hosted by CNBC Asia Pacific, the Asia Business Leaders Awards acknowledge exceptional CEOs worldwide. The awards are held annually in the respective regions of the United States, Europe and Asia. Award recipients are business leaders who have demonstrated strength, innovation, ingenuity, knowledge and foresight in leading their company. The Asia Innovator of the Year Award was established to recognize business leaders and their companies who demonstrate a strong commitment to innovation.

"It is an honor to receive the prestigious Asia Innovator of the Year Award from CNBC. This award is really a tribute to all STATS ChipPAC employees worldwide, whose excellence, dedication and focus on innovation put STATS ChipPAC in a position to offer leading technologies and services to our customers," said Tan Lay Koon, President and Chief Executive Officer, STATS ChipPAC.

STATS ChipPAC is committed to pursuing sustainable innovations. Since 2005, the Company's patent portfolio has more than doubled and a significant number of these patents were achieved for product innovation in advanced three dimensional (3D) packaging technologies. During the last two consecutive years, STATS ChipPAC was also recognized for innovation by winning the Advanced Packaging Award for 3D technology. The Advanced Packaging Awards are an annual industry event that celebrates excellence in semiconductor innovation. STATS ChipPAC encourages and rewards employees for their innovative ideas in technology, quality, teamwork, communication, cost efficiency and customer satisfaction.

Tan continued, "We are proud of the tremendous success we have achieved and are confident that our culture of innovation will enable STATS ChipPAC to remain at the technology forefront of the packaging and test industry."

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.