UMC Board of Directors Announces Proposals for its Annual Shareholders Meeting

Taipei, Taiwan, R.O.C. -March 17, 2010 -United Microelectronics Corporation (TAIEX: 2303, NYSE: UMC), at a meeting of the Board of Directors held today, approved the 2009 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:
- The 2009 Business Report and Financial Statements. The Company's revenue for 2009 was NT$88,618 million and net income after tax was NT$3,874 million, with earnings per share of NT$0.31.
- Shareholder cash dividend of NT$6,233 million, estimated at NT$0.50 per share. No stock dividend will be issued.
- Employee cash bonus of NT$965 million.
- Amendments to the "Financial Derivatives Transaction Procedures" and "Acquisition or Disposal of Assets Procedure".
- To release the Directors from non-competition restrictions

Other major resolutions of today's Board Meeting:
- Issuance of unsecured corporate bond for not exceeding NT$10,000 million.
- Capital injection of NT$1,500 million to UMC New Business Investment Corporation.
- The 2010 Annual General Meeting will be held at 9:00 AM, on Tuesday, June 15, 2010 at the UMC Recreation Center in Hsinchu Science Park.

About UMC
UMC (NYSE: UMC, TSE: 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; Fab12A in Taiwan and Singapore-based Fab12i are both in volume production for a variety of customer products. The company employs approximately 12,000 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.