Optical modulators for optical interconnects require a small size, small voltage, high speed and wide working spectrum. For this purpose, we developed Si slow-light Mach-Zehnder modulators via a 180 nm complementary metal-oxide-semiconductor process. We employed 200 µm lattice-shifted photonic crystal waveguides with interleaved p-n junctions as phase shifters. The group index spectrum of slow light was almost flat at n g « 20 but exhibited˘10% fluctuation over a wavelength bandwidth of 20 nm. The cutoff frequency measured in this bandwidth ranged from 15 to 20 GHz; thus, clear open eyes were observed in the 25 Gbps modulation. However, the fluctuation in n g was reflected in the extinction ratio and bit-error rate. For a stable error-free operation, a 1 dB margin is necessary in the extinction ratio. In addition, we constructed a device with varied values of n g and confirmed that the extinction ratio at this speed was enhanced by larger n g up to 60. However, this larger n g reduced the cutoff frequency because of increased phase mismatch between slow light and radio frequency signals. Therefore, n g available for 25 Gbps modulation is limited to up to 40 for the current device design.