Taipei, Taiwan, R.O.C. - June 12, 2006 - United Microelectronics Corporation (TAIEX: 2303, NYSE: UMC), today held its 2006 annual shareholders meeting, at which shareholders approved a stock dividend payment of NT$0.1 and cash dividend payment of NT$0.4 per common share for fiscal 2005.

At the meeting, shareholders also approved:

• The business report and financial statements for fiscal 2005. The Company's revenue for 2005 was NT$90,775 million and net income after tax was NT$7,027 million, with earnings per share of NT$0.38.
• A capitalization of NT$1,790,316,720, which includes NT$895,158,360 from un-appropriated earnings for and prior to the year 2005 and NT$895,158,360 from capital reserve (estimated NT$0.1 per share at par value).
• Cash dividend of NT$7,161,266,830 (estimated NT$0.4 per share).
• The amendment of the Company's "Endorsements and Guarantees Procedure" in Article 2 and 10, the amendment of "Financial Derivatives Transaction Procedure", the amendment of Articles 9, 10, 11, 13, 14, 16-1 and 24 of the Articles of Incorporation to accommodate the Company Law and increase of completeness of the Articles, and the subsequent amendment of Article 25 to record the most recent amendments to the Articles of Incorporation.

In order to enhance corporate governance by providing a more diversified insight into the company's operations, three independent directors were elected during the meeting for the Company's 10th term of Directors and Supervisors. The new directors possess expertise and valuable knowledge in semiconductors, the IT industry and business management related fields. The brief biographies for the newly elected directors are:

1. Dr. Chun-Yen Chang: Ph. D. of Electronics Engineering, National Chiao Tung University
   • President and National-Endowed-Chair Professor, National Chiao Tung University (Now)
   • Science and Technology Advisor to the President Office and Prime Minister of the Taiwan ROC (2000-)
   • Recipient of the IEEE third millennium medal (2000)
   • Founding President of National Nano-Device Laboratories, Taiwan (1990-97)
2. Dr. Chung-Laung Liu: Sc. D., Massachusetts Institute of Technology
   • Honorary Chair Professor, National Tsing Hua University (2002- )
   • Professor Emeritus, University of Illinois at Urbana-Champaign (1998- )
   • Life Time Achievement Award, Intl. Conference on VLSI Design (2005)
   • Recipient of the IEEE Millennium Medal (2000)
   • Fellow, Institute of Electrical and Electronics Engineers (1986)
3. Dr. Paul S.C. Hsu: Ph. D. of Business Administration, University of Michigan
   • Far East Group Chair Professor of Management, Yuan-Ze University (1998-)
   • Chairman, Taiwan Assessment and Evaluation Association (2003-)
   • Founding Dean, College of Management, National Taiwan University (1987-1993)

UMC (NYSE: UMC, TSE: 2303) is a leading global semiconductor foundry that manufactures advanced process ICs for applications spanning every major sector of the semiconductor industry. UMC delivers cutting-edge foundry technologies that enable sophisticated system-on-chip (SoC) designs, including volume production 90nm, industry-leading 65nm, and mixed signal/RFCMOS. UMC's 10 wafer manufacturing facilities include two advanced 300mm fabs; Fab 12A in Taiwan and Singapore-based Fab 12i 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.