Temasek in $2 Billion Acquisition of STATS ChipPAC

March 1, 2007

Cleary Gottlieb is representing Temasek Holdings and its wholly-owned subsidiary Singapore Technologies Semiconductors, in their acquisition of the remaining 64.4% interest of publicly-traded STATS ChipPAC not owned by STS. The cash offer, valued at up to approximately $2 billion, was announced on March 1.

Temasek is an investment holding company owned by the Singapore government. STATS ChipPAC is a semiconductor test and advanced packaging service provider, headquartered in Singapore and listed on both Nasdaq and the Singapore Stock Exchange.