Taipei, Taiwan, R.O.C. – June 9, 2003 - United Microelectronics Corporation (NYSE: UMC; TAIEX: 2303), today held the 2003 annual shareholders meeting, at which its shareholders approved a stock dividend for fiscal 2002 of NT$0.4 per common share.

At the meeting, shareholders also approved:

1. The financial statements for fiscal 2002, according to which UMC’s revenues for the year were NT$67,426 million, and net income was NT$7,072 million, with earnings per share of NT$0.48.

2. A capitalization of NT$6,658,978,170 from un-appropriated earnings for and prior to the year 2002, which shall increase the paid-in capital of UMC to NT$161,407,434,630.

3. The removal of the Article of Incorporation for Article 2 Item 10, according to the notice 0910020242 issued by Hsinchu Since Park Administration on August 27, 2002, and the subsequent amendment of Article 25 that updates all revision dates.
   
   

John Hsuan, UMC vice-chairman and CEO, reiterated “Our most recent data indicates that we are on track to meet our previously issued guidance for the second quarter of this year. The average utilization rate of our fabs is growing to over 80 percent, from 67 percent for the first quarter of 2003. Average selling price (ASP) per wafer should be flat quarter-over-quarter due to a stable pricing environment.”

UMC (NYSE: UMC, TSE: 2303) is a leading global semiconductor foundry that manufactures advanced process ICs for applications spanning every major sector of the semiconductor industry. UMC delivers cutting-edge foundry technologies that enable sophisticated system-on-chip (SOC) designs, including 0.13um copper, embedded DRAM, and mixed signal/RFCMOS. UMC is also a leader in 300mm manufacturing; Fab 12A in Taiwan is currently in volume production for a variety of customer products, while the Singapore-based UMCi joint venture with Infineon Technologies will begin pilot production later this year. UMC employs over 8,500 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.