Newbie: memory in ATI Jetway Radeon 9200SE

I recently bought the following graphics card:
ATI Jetway Radeon 9200SE. It gives the figure
"128 MB" for memory. However, when I examine it
(a good picture can be found at the following URL:
http://www.jetway.com.tw/evisn/produ...0se/9200se.htm
), I see very few components on the board other
than the processor, and certainly not any that
look like memory. (I have a RAID card that has
a slot to hold a SIMM, and that is what I am
comparising it with.) I had always assumed that
the figure given for memory in graphics cards was
the amount that was on board the graphics card,
but this makes me wonder whether the graphics card
is simply using the computer's RAM, and the memory
figure merely gives the amount of RAM that the
graphics card can make use of.
Can anyone enlighten me about this?
TIA
Tom