Taiwan Semiconductor Manufacturing Company LimitedStock Dividend Details for NYSE-listed ADSs

Science-Based Industrial Park, Hsinchu, Taiwan, May 2, 2000 - Taiwan Semiconductor Manufacturing Company Ltd. (“TSMC” or the “Company”) (TAIEX:2330, NYSE: TSM) announced details in respect of its previously-announced 28% stock dividend that relate to its NYSE-listed American Depositary Shares (“ADSs”).

The record date for ADSs entitled to participate in this stock dividend will be May 17, 2000. The ADS ex-dividend date will be May 15, 2000. The local distribution date with respect to the upcoming stock dividend is expected to be on or about mid-July. The actual distribution date is subject to ROC regulatory approvals.

The ex-dividend date and record date for TSMC common shares listed and traded on the Taiwan Stock Exchange will be May 15 and May 21, respectively, and the Company’s share transfer books will be closed for transfers from May 17 through May 21, 2000.

No fractional ADSs will be issued in connection with this stock dividend. Any fractional ADS shares or shares in lots of less than five common shares (which is the number of shares represented by each ADS) that otherwise would be issuable in respect of shares represented by each ADSs in connection with this stock dividend will be disregarded and not issued. Similarly, no fractional shares will be issued in respect of TSMC shares listed and traded on the Taiwan Stock Exchange in connection with this stock dividend. However, holders of TSMC shares listed and traded on the Taiwan Stock Exchange may, in private transactions, aggregate their entitlements to fractional shares in order to have additional whole shares issued in connection with this stock dividend.

Any questions regarding this upcoming stock dividend may be directed to Public Relations (Tel: 886-3-5675020) or Investors Relations (Tel: 886-3-5672664 or 5672968).