We have developed new anisotropic conductive adhesive films (ACFs) for flip-chip interconnection onto organic substrates such as printed wiring boards (PWBs). In order to reduce thermal and mechanical stress and strain induced by CTE (coefficient of thermal expansion) mismatches between a chip and a organic substrate, the elastic modulus of the adhesive resin of ACF was towered. in addition, the adhesion strength of ACF was enhanced by optimizing the formulation of the adhesive resin. As a result of it, the modified ACF in flip-chip interconnection made between gold bumps of a chip and Ni/Au coated pads on a FR-4 PWB shows stable contact resistance lower than 10 mn even after exposed to various environmental tests such as a thermal cycling test (-55 degrees C/+125 degrees C, 1000 cycle) and a pressure cooker test (121 degrees C, 2 atm., 168h) following an IR reflow treatment (twice). In addition, the excellent connection reliability was confirmed by in-situ measurement of contact resistance on a thermal cycling test(-55 degrees C/+125 degrees C, 1,000 cycle) and a high temperature humidity test(85 degrees C/85%RH, 1,000h) following an IR reflow treatment (twice).