HSINCHU, Taiwan, April 28 /Xinhua-PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or "the Company") (Nasdaq: IMOS) announced today that its 70.3% owned subsidiary, ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan") has reached an agreement to sell its ownership interest in FIRST SEMICONDUCTOR TECHNOLOGY, INC. ("FST") back to FST. ChipMOS Taiwan acquired a 67.83% interest in FST on November 1, 2004 in connection with its acquisition of testing and assembly equipment from First International Computer Testing and Assembly, Inc. ("FICTA").

Under the share repurchase agreement, ChipMOS Taiwan will transfer 2.52 million shares of FST to FST in exchange for total consideration of approximately US$2 million, which is equivalent to the book value as of the date ChipMOS Taiwan purchased the shares. The closing of the transaction is expected to occur no later than April 29, 2005. Accordingly, since Jan 1, 2005, results of operations of FST have no longer been consolidated into ChipMOS Taiwan's financial statements.

S.K. Chen, Chief Financial Officer of ChipMOS, said "This is an attractive transaction for ChipMOS and its shareholders, as we will be receiving approximately US$2 million, while retaining the equipment we previously acquired from FICTA."

About ChipMOS TECHNOLOGIES (Bermuda) LTD.:
ChipMOS ( http://www.chipmos.com.tw ) is a leading independent provider of semiconductor testing and assembly services to customers in Taiwan, Japan, and the U.S. With advanced facilities in Hsinchu and Southern Taiwan Science Parks in Taiwan and in Shanghai, ChipMOS and its subsidiaries provide testing and assembly services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries.

About FIRST SEMICONDUCTOR TECHNOLOGY INC.:
First Semiconductor Technology ( http://www.1stsemi.com ) was established in 1998 to serve the semiconductor test needs of Santa Clara Valley. FST offers Agilent 93000/83000 testers rental specifically suited for the development of high speed digital and mixed-signal test solutions. FST provides complete services for test program development, test pattern conversion, load board design and production testing.

Forward-Looking Statements
Certain statements contained in this announcement may be viewed as "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company's most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") and in the Company's other filings with the SEC.

Contact: In Taiwan R.O.C.
Dr. S.K. Chen
ChipMOS TECHNOLOGIES (Bermuda) LTD.
Tel: +886-6-507-7712
Email: s.k._chen@chipmos.com.tw

In the U.S.
David Pasquale
The Ruth Group
Tel: +1-646-536-7006
Email: dpasquale@theruthgroup.com