shanghai  [2004-03-15]

(March 15, 2004 - Hong Kong) Semiconductor Manufacturing International Corporation ("SMIC" or "the Company"), one of the leading semiconductor foundries in the world, announced today that the issue price for its initial public offering has been fixed at HK$2.69 per ordinary share.

Further information regarding the clawback and allotment results will be announced on Wednesday, March 17, 2004. Dealing in the American Depositary Shares ("ADSs") on the New York Stock Exchange ("NYSE") is expected to commence on Wednesday, March 17, 2004. Dealing in the ordinary shares on The Stock Exchange of Hong Kong ("SEHK") is expected to commence on Thursday, March 18, 2004.

Credit Suisse First Boston is the global coordinator of the share offer. Credit Suisse First Boston (Hong Kong) Limited and Deutsche Bank AG, Hong Kong Branch are the joint bookrunners.

About SMIC
SMIC is one of the leading semiconductor foundries in the world. As a foundry, SMIC fabricates semiconductors for customers based on their own or third parties’ integrated circuit designs. SMIC was founded in April 2000 and currently offers a wide range of leading edge integrated wafer manufacturing services, including copper interconnects capabilities, to its global customer base. SMIC operates 8-inch wafer fabrication facilities in the Zhangjiang High-Tech Park in Shanghai, China and, as a result of a recent acquisition, an 8-inch wafer fab in Tianjin, China. In addition, SMIC is currently constructing 12-inch wafer fabrication facilities in Beijing, China