Taipei, Taiwan, R.O.C. –March 16, 2011 - United Microelectronics Corporation (NYSE: UMC; TWSE: 2303) ("UMC"), at a meeting of the Board of Directors held today, approved the 2010 Business Report and Financial Statements, and set the agenda for the Annual General Meeting. A brief summary of recognition items and discussion items is as follows:

1. The 2010 Business Report and Financial Statements. The Company's revenue for 2010 was NT$120,431 million and net income after tax was NT$23,899 million, with earnings per share of NT$1.91.
2. Shareholder cash dividend of NT$14,034 million, at approximately NT$1.12 per share.
3. Employee cash bonus of NT$2,477 million.
4. Amendments to Articles of Incorporation and Directors and Supervisors Election Procedure

Other major resolutions of today's Board Meeting:

1. To issue unsecured zero coupon euro convertible bond not exceeding US$500 million.
2. To acquire up to 30% equities of the holding company of He Jian Technology
   • To continue searching for further integration, the Board of Directors proposed an offer to the shareholders of He Jian Technology to surrender their holdings.
   • Based on 0.65x of latest book value, Series A-1 holders will be offered around US$0.261931 per share, Series B and B-1 holders will be offered around US$0.576248 per share. The total acquisition amount will be around US$87 million, if assuming equal amount of shareholders from each series taking this offer.
3. The 2011 Annual General Meeting will be held at 9:00 AM on Wednesday, June 15, 2011 at the UMC Recreation Center in Hsinchu Science Park.

UMC (NYSE: UMC, TWSE: 2303) is a leading global semiconductor foundry that provides advanced technology and manufacturing services for applications spanning every major sector of the IC industry. UMC's customer-driven foundry solutions allow chip designers to leverage the strength of the company's leading-edge processes, which include production proven 65nm, 45/40nm, mixed signal/RFCMOS, and a wide range of specialty technologies. Production is supported through 10 wafer manufacturing facilities that include two advanced 300mm fabs; Fab 12A in Taiwan and Singapore-based Fab 12i are both in volume production for a variety of customer products. The company employs over 13,000 people worldwide and has offices in Taiwan, Japan, Singapore, Europe, and the United States. UMC can be found on the web at http://www.umc.com.