Taipei, Taiwan, R.O.C. - October 27, 2000 - United Microelectronics Corporation (TAIEX: 2303, NYSE: UMC), (UMC) today revised its financial forecast for year 2000. The net sales forecast for fiscal year 2000, has been revised from the previous forecast of NT$88,029 million to NT$105,507 million, a 20% increase. The net income forecast for year 2000 has been revised to NT$50,029 million, up from NT$30,036 million in the previous estimation. Earnings per share has been revised to NT$4.50 from the previous forecast of NT$2.67, based on the weighted-average number of shares outstanding.

UMC is publishing this financial forecast revision for year 2000 in accordance to the rules and regulations laid out by the Republic of China Securities and Futures Exchange as described in "Guidelines for Publishing of Financial Forecasts of Public Companies."

The reasons for this revision include the continued strength of the foundry industry, and UMC's increase of 0.18um and below production. In addition, the combination of an optimized product mix and a favorable exchange rate has benefited the average selling price of wafers sold.

UMC is one of the world's largest independent semiconductor foundries and a leader in advanced process technology. The company posted 1999 global sales of US$1.74 billion and US$2.34 billion for the nine-month period ended September 30, 2000. UMC operates fabs in Taiwan and Japan, and has two 12-inch fabs under construction. A leader in foundry technology, UMC expects capacity to reach 3.4 million wafers per year in 2001, with over half in advanced 0.18 and 0.25-micron technology and is introducing standard 0.13-micron technology in the year 2000. The company has marketing and customer support offices located in the United States, Japan, and the Netherlands. UMC's shares have been listed on the Taiwan Stock Exchange since 1985 and the company's ADS trade on the NYSE under the symbol UMC. One ADS represents five ordinary shares. Additional information on the company is available on the web at http://www.umc.com

Except for statements in respect of historical matters, the statements in this release are "forward-looking statements" within the meaning of Section 27A of the Securities and Exchange Act of 1933 and Section 21E of the U.S. Securities Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual performance, financial condition or results of operations of UMC to be materially different from any future such matters implied by the statements. 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, and technological and development risks. The risks, uncertainties and factors include, among others, those stated in the section entitled "Risk Factors" in our Registration Statement on Form F-1 filed with the U.S. Securities and Exchange Commission on September 15, 2000. The forecasted financial statements included in this release were published on October 23, 2000, in accordance with the Republic of China Securities and Futures Commission's requirements. These statements were also prepared and published in accordance with ROC GAAP; investors are cautioned that there are differences between ROC GAAP and US GAAP, as described for example in our Registration Statement filed September 15, 2000, under Regulation F-1. The financial forecasts and foreward looking statements in this release reflect the current belief of UMC as of this date and UMC undertakes no obligation to update this forecast for events or circumstances that occur subsequent to this date.