Singapore's Economic Development Board to Take Equity Stake in UMC's 300mm Singapore Project

EDB Investments to take 15% shareholdership in the US$3.6 billion wafer fab

Singapore, January 30, 2001— EDB Investments Pte Ltd (EDBI), the Singapore Economic Development Board's investment arm, today announced that it has confirmed a 15% equity stake in United Microelectronics Corporation's (NYSE: UMC) independent foundry company in Singapore. EDBI joins Infineon Technologies as a shareholder in the advanced US$3.6 billion 300mm facility, in which UMC holds a majority stake. This venture is the largest single manufacturing investment into Singapore.

John Hsuan, Chairman of UMC said, "We are pleased that EDB Investments Pte Ltd has joined UMC as a strategic equity partner for the development of UMC's wafer fab in Singapore. The EDB has shown tremendous support in helping to establish this facility, and becoming a direct stakeholder of UMC's Singapore project will allow EDB to participate in the success of this promising new enterprise."

Liow Voon Kheong, General Manager of EDBI, commented, "This strategic partnership will propel Singapore into the next phase of advanced semiconductor fabrication and help us to remain at the forefront of technology. The number and types of jobs to be created, extent of knowledge transfer, and the numerous other economic spin-offs from this venture will significantly add to the existing solid infrastructure of more than a dozen advanced semiconductor wafer fab projects in Singapore. We look forward to greater cooperation with UMC in this successful venture."

Groundbreaking for the wafer fab, located in Singapore's Pasir Ris Wafer Fab Park, is scheduled for later this quarter with initial equipment move in expected in Q3 2002.

About EDBI

EDB Investments Pte Ltd (EDBI) is the investment arm of the Singapore Economic Development Board (EDB). EDBI manages the Cluster Development Fund (CDF) and Venture Capital Fund (VCF) for EDB to address critical gaps in the key industrial sectors in Singapore, besides pioneering the development of its vibrant venture capital industry, by developing and supporting new capabilities, technologies and accelerating the development of local enterprises, and promoting innovative start-ups. The EDBI also co-invests in regional and overseas projects that foster strong economic ties with Singapore. Please visit us at:http://www.edbi.com.

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