Taipei, Taiwan, R.O.C. – April 16, 2014 - United Microelectronics Corporation (NYSE: UMC; TWSE: 2303) ("UMC"), at a meeting of the Board of Directors held today, approved an amendment to the proposal of cash distribution to ensure the effective use of tax credits to enhance shareholder return and added the motion to the agenda for the Annual General Meeting. Total cash distribution to shareholders amounted to NT$6,253 million from the combination of paid-in capital distribution and dividend from earnings. The major items of the proposal for cash distribution from 2013 are as follows:

• Type and monetary amount of the original cash distribution:
  -Cash dividend of NT$6,249 million from earnings, or approximately NT$0.50 per share
• Type and monetary amount of cash distribution after the change:
  -Cash distribution of NT$6,128 million from additional paid-in capital, or approximately NT$0.49 per share
  -Cash dividend of NT$125 million from earnings, or approximately NT$0.01 per share

The total amount of cash distributed to shareholders is NT$6,253 million, or approximately NT$0.50 per share.

UMC (NYSE: UMC, TWSE: 2303) is a leading global semiconductor foundry that provides advanced technology and manufacturing for applications spanning every major sector of the IC industry. UMC’s robust foundry solutions allow chip designers to leverage the company’s leading-edge processes, which include 28nm poly-SiON and gate-last High-K/Metal Gate technology, mixed signal/RFCMOS, and a wide range of specialty technologies. Production is supported through 10 wafer manufacturing facilities that include two advanced 300mm fabs; Fab 12A in Taiwan and Singapore-based Fab 12i. Fab 12A consists of Phases 1-4 which are in production for customer products down to 28nm. Construction has been completed for Phases 5&6, with future plans for Phases 7&8. The company employs over 15,000 people worldwide and has offices in Taiwan, mainland China, Europe, Japan, Korea, Singapore, and the United States. UMC can be found on the web at https://www.umc.com.

Note From UMC Concerning Forward-Looking Statements
Some of the statements in the foregoing announcement are forward looking within the meaning of the U.S. Federal Securities laws, including statements about future outsourcing, wafer capacity, technologies, business relationships and market conditions. 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 from UMC; and technological and development risks. Further information regarding these and other risks is included in UMC’s filings with the U.S. Securities and Exchange Commission, including its registration statements and reports on Forms F-1, F-3, F-6 and 20-F and 6-K, in each case as amended. UMC does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.