Taipei, Taiwan, R.O.C. –March 14, 2012 - United Microelectronics Corporation (NYSE: UMC; TWSE: 2303) ("UMC"), at a meeting of the Board of Directors held today, approved the 2011 Business Report and Financial Statements, and set the agenda for the Annual General Meeting. A brief summary of major recognition and discussion items is as follows:

1. The 2011 Business Report and Financial Statements. The Company's revenue for 2011 was NT$105,880 million and net income after tax was NT$10,610 million, with earnings per share of NT$0.84.
2. Shareholder cash dividend of NT$6,316 million, at approximately NT$0.5 per share.
3. Employee cash bonus of NT$1,618 million.
4. To elect the board members for the 12th term.

Other major resolutions of today's Board Meeting:

1. Approved the cancellation of treasury shares.
2. To acquire up to 30% equities of the holding company of He Jian Technology
   • 157,934,400 treasury shares from the Company's 13th share buyback program, will be cancelled. The capital reduction ratio is 1.21%.
   • The record date of capital reduction is on March 14, 2012. - The 2012 Annual General Meeting will be held at 9:00 AM on Tuesday, June 12, 2012 at UMC's Fab8S Conference Hall, located at No.16, Creation Rd. 1, 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 28nm, 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.

Note From UMC Concerning Forward-Looking Statements
Some of the statements in the foregoing announcement are forward looking within the meaning of the U.S. Federal Securities laws, including statements about future outsourcing, wafer capacity, technologies, business relationships and market conditions. Investors are cautioned that actual events and results could differ materially from these statements as a result of a variety of factors, including conditions in the overall semiconductor market and economy; acceptance and demand for products from UMC; and technological and development risks. Further information concerning these risks is included in UMC's filings with the U.S. SEC, including on Form F-1, F-3, F-6 and 20-F, each as amended.