Producing a chip with 40 pins

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A microprocessor has 20 address lines and 16 data lines, 7 control lines, 3 power supply lines, 2 serial lines and 2 lines for the crystal oscillator. Company wants to keep the form of microprocessor as very simple.
Is it possible to produce the chip with only 40 pins?
 

If you share/multiplex the 20 address pins and the 16 data pins, using another pin for ALE address latch enable it is possible.
 
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