Science-Based Industrial Park, Hsin-Chu, Taiwan, March 4, 1998 - Taiwan Semiconductor Manufacturing Company Ltd. (TSMC or the "Company") (NYSE: TSM) yesterday held a meeting of the Board of Directors and Supervisors. At the meeting the Board of Directors and Supervisors adopted a proposal recommending the distribution of a dividend of NT$4.5 per Common Share. The proposal recommends that such dividend be paid in the form of Common Shares which would result in the distribution of 4.5 Common Shares for each 10 Common Shares owned by each shareholder. The proposal will be discussed and voted on at the regular annual shareholders' meeting scheduled to be held on May 12, 1998. The date for the dividend distribution and the record date will be announced separately after the proposal is approved by shareholders.
Mr. Huang further explained that the proposed NT$4.5 stock dividends comprise the NT$4.4 earnings per share for 1997 and earnings retained from previous years.
Mr. Huang also announced that the Company has decided not to make public financial forecasts in the future, unless required to do so by applicable law. TSMC has been listed on the Taiwan Stock Exchange for more than three years and therefore in accordance with applicable regulations is no longer required to disclose financial forecasts.