Taipei, Taiwan, R.O.C. - June 5, 2006 - United Microelectronics Corporation (TAIEX: 2303, NYSE: UMC), today received approval from the relevant government authorities for the completion of its capital amendment registration, effective from June 2, to retire 1 billion treasury shares. The paid-in capital has thus been reduced to NT$188,452,340,740 from NT$198,452,340,740.
UMC announced its 10th share buy-back program on February 15, 2006, to repurchase 1 billion shares, or 5.04% of the total issued shares, from the open market. The shares were then to be retired for the purpose of raising shareholders' equity. UMC completed the 1 billion shares buy-back program on April 11, 2006, with an average buy-back price of NT$19.65 per share. UMC cancelled the 1 billion shares as planned and completed the capital reduction registration on June 2, 2006.
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