TSMC Donate NT$45 Million to Cloud Gate Dance Theatre

Taipei, Taiwan, April 13, 1998 - In a move aimed at boosting local cultural development, Taiwan Semiconductor Manufacturing Company ("TSMC" or the "Company") (NYSE:TSM) donated NT$45 million over the next three years to the Cloud Gate Dance Theatre Fund. Interest from the fund will be used to support the long-term development of the dance troupe.

"We understand clearly that the success of the company very much depends on the well-being of the society and the environment where we are established. It is essential therefore that we give back to society with our means and serve as a model corporate citizen.", said Dr. Morris Chang, TSMC Chairman, at the signing ceremony. The Company has formed TSMC Education and Culture Foundation which concentrates on the promotion of education in technology, cultural activities and the development of community.

Mr. H.M. Lin, Art Director of the Cloud Gate Dance Theatre, said after a quarter-century of study and practice, the theatre is coming of age and standing on it feet, and it deserves a share of society's resources. Lin believes that the donation from TSMC and all other organizations will certainly encourage the Theatre to further develop itself and become the cultural resources of the society.