SMIC Revises Up Second Quarter 2009 Quarter-on-Quarter Revenue Guidance

SHANGHAI, June 29 /PRNewswire-Asia/ -- Semiconductor Manufacturing
International Corporation ("SMIC" or the "Company") (NYSE: SMI; SEHK: 981),
one of the leading semiconductor foundries in the world, announces today an
upward revision of Q2 revenue guidance for the three months ended June 30,
2009, which was originally released by the Company in its results for the
three months ended March 31, 2009 on April 29, 2009 (the "Original Revenue
Guidance").
"Since the release of our Q2 revenue guidance, we have seen strong growth
in our customer orders, exceeding our earlier expectation, due to the robust
demand in the China market. Therefore, we are now revising up our Q2 revenue
guidance to a quarter-on-quarter increase of 76% to 78%, from the original
guidance of an increase of 58% to 62%," said Morning Wu, Acting Chief
Financial Officer and Chief Accounting Officer.
There is evidence that the economy is stabilizing but it is far from
recovery. It is unclear whether the strong growth in our customer orders seen
by the Company for Q2 comes from rushed orders by customers to replenish
inventory or is an indication of the beginning of a sustainable recovery of
the economy in general. The Company cannot at the moment give, and is not
giving, any guidance on Q3 or onwards revenues.
About SMIC
Semiconductor Manufacturing International Corporation ("SMIC"; NYSE: SMI;
SEHK: 981) is one of the leading semiconductor foundries in the world and the
largest and most advanced foundry in Mainland China, providing integrated
circuit (IC) foundry and technology services at 0.35um to 45nm. Headquartered
in Shanghai, China, SMIC has a 300mm wafer fabrication facility (fab) and
three 200mm wafer fabs in its Shanghai mega-fab, two 300mm wafer fabs in its
Beijing mega-fab, a 200mm wafer fab in Tianjin, a 200mm fab under construction
in Shenzhen, and an in-house assembly and testing facility in Chengdu. SMIC
also has customer service and marketing offices in the U.S., Europe, and
Japan,
and a representative office in Hong Kong. In addition, SMIC manages and
operates a 200mm wafer fab in Chengdu owned by Cension Semiconductor
Manufacturing Corporation and a 300mm wafer fab in Wuhan owned by Wuhan Xinxin
Semiconductor Manufacturing Corporation. For more information, please visit
http://www.smics.com .
Safe Harbor Statements
(Under the Private Securities Litigation Reform Act of 1995)
This press release contains, in addition to historical information,
"forward-looking statements" within the meaning of the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of 1995. These
forward-looking statements, including statements concerning expected increase
in our second quarter 2009 revenue from the Original Revenue Guidance,
anticipated strong growth in our customer orders and our expectations
regarding robust demand in the China market are based on SMIC's current
assumptions, expectations and projections about future events. SMIC uses words
like "believe", "anticipate", "intend", "estimate", "expect", "project" and
similar expressions to identify forward-looking statements, although not all
forward-looking statements contain these words. These forward-looking
statements are necessarily estimates reflecting the best judgment of SMIC's
senior management and involve significant risks, both known and unknown,
uncertainties and other factors that may cause SMIC's actual performance,
financial condition or results of operations to be materially different from
those suggested by the forward-looking statements including, among others,
risks associated with cyclicality and market conditions in the semiconductor
industry, the downturn in the global economy and the impact on China's
economy,
intense competition, timely wafer acceptance by SMIC's customers, SMIC's
ability to capture growth opportunities in China, SMIC's ability to strengthen
its products portfolio, supply and demand for semiconductor foundry services,
industry overcapacity, shortages in equipment, components and raw materials,
orders or judgments from pending litigation, availability of manufacturing
capacity and financial stability in end markets.
Investors should consider the information contained in SMIC's filings with
the U.S. Securities and Exchange Commission (SEC), including its annual report
on 20-F filed with the SEC on June 22, 2009, especially in the "Risk Factors"
and "Management's Discussion and Analysis of Financial Condition and Results
of Operations" sections, and such other documents that SMIC may file with the
SEC or SEHK from time to time, including on Form 6-K. Other unknown or
unpredictable factors also could have material adverse effects on SMIC's
future results, performance or achievements. In light of these risks,
uncertainties, assumptions and factors, the forward-looking events discussed
in this announcement may not occur. You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
stated, or if no date is stated, as of the date of this announcement. Except
as required by applicable laws or regulations (including the Listing Rules) or
as otherwise considered by SMIC to be appropriate, SMIC undertakes no
obligation and does not intend to update any forward-looking statement,
whether as a result of new information, future events or otherwise.
Media contacts:

Edith Kwan (Shanghai)
Investor Relations
Tel: +86-21-3861-0000 x18951
Email: Edith_Kwan@smics.com

Meifung Hoo (Hong Kong)
Tel: +852-2537-8480
Email: Meifung_Hoo@smics.com

SOURCE Semiconductor Manufacturing International Corporation

Edith Kwan, Investor Relations at +86-21-3861-0000 x18951 or
Edith_Kwan@smics.com; Or Meifung Hoo at +852-2537-8480 or
Meifung_Hoo@smics.com