Dr. Fang Churng Tseng, Former Senior Vice-President of TSMC, Takes over the President of Vanguard International Semiconductor Co.

Hsinchu, Taiwan, May 9, 1996 -- Taiwan Semiconductor Manufacturing Company Ltd. (TSMC) announced today that, effective from today, Dr. Fang Churng Tseng, former senior vice-president of TSMC, takes over the president of Vanguard International Semiconductor Corporation (VIS), of which TSMC owns 23.5% shares.

"Ever since TSMC was founded, Dr. Tseng has been in charge of operations. His responsibilities included process technology development, wafer manufacturing and new fab planning,"said Dr. Morris Chang, Chairman of TSMC, also the Chairman of VIS, "We recognize Dr. Tseng's distinguished contribution to TSMC and we wish to use his expertise to lead VIS's future growth ."

TSMC R&D VP, South-Site VP and North Site Senior Director, who used to report to Dr. Tseng, are now directly reporting to TSMC president, Mr. Donald Brooks.