TSMC Revises Upwards Its Guidance for the Fourth Quarter of 2002

Hsin-Chu, Taiwan, November 22, 2002 – Taiwan Semiconductor Manufacturing Company Ltd. (“TSMC” or “the Company”) (TAIEX: 2330, NYSE: TSM) today revised upwards its guidance for the fourth quarter of 2002, among which the wafer shipment and the utilization rate are expected to be higher than those forecasted earlier at TSMC’s third quarter institutional investor conference.

Mr. Harvey Chang, TSMC Spokesman, noted that both TSMC’s wafer shipment and utilization rate show considerable improvement over the guidance forecasted previously, due to the recent pick up in the PC demand and the increased demand for communication products for Christmas season. As a result, TSMC revised upwards its forecast for the fourth quarter of 2002. The revised forecast indicated that the Company’s wafer shipment for the fourth quarter of 2002 would approximately equal to that for the third quarter of 2002. The Company’s utilization rate is expected to be close to 60 percent. In addition, the average selling price (ASP) is expected to remain about the same as that announced earlier at TSMC’s third quarter institutional investor conference.