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STATS AND CHIPPAC AGREE TO MERGE.

AsiaPulse News

| February 10, 2004 | COPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(Full text of this release can be found at www.asianetnews.net)

SINGAPORE, and FREMONT, Calif, Feb. 10 /XFNHK-AsiaNet/ -- ST Assembly Test Services Ltd ("STATS") (Nasdaq: STTS and SGX: ST Assembly) and ChipPAC, Inc. (Nasdaq: CHPC), today announced the signing of a definitive agreement for the companies to merge in a stock-for-stock transaction to create one of the world's premier independent semiconductor assembly and test solutions company.

The combined company expects to have over US$1 billion in revenues in 2004.

It will be the 2nd largest test house and will have leadership in mixed signal testing. It will also have one of the broadest ...

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