UMC Shareholders Approve NT$0.7 Dividend for Fiscal Year 2006 at Annual Shareholders Meeting

Taipei, Taiwan, R.O.C. - June 11, 2007 - United Microelectronics Corporation (TAIEX: 2303, NYSE: UMC, or "the Company"), today held its 2007 annual shareholders meeting, at which shareholders approved a cash dividend payment of NT$0.7 per common share for fiscal 2006.

At the meeting, shareholders also approved:
1. The 2006 business report and financial statements. The Company's revenue for 2006 was NT$104.10 billion and net income after tax was NT$32.62 billion, with earnings per share of NT$1.8. The distributable earnings for 2006 were NT$15.49 billion.
- Under ROC GAAP, NT$6.37 billion of retained earnings was adjusted from the cancellation of 1 billion shares that the Company bought back in the first half of 2006 and another NT$9.20 billion of retained earnings was debited on the transaction from the disposal of shares of Hsun Chieh Investments Co., Ltd. due to the book value of treasury stock and unrealized loss on long-term investments exceeding the total long-term investment fair value.
2. Cash dividend of NT$12,461,529,283 (estimated NT$0.7 per share).
- The Company will distribute a cash dividend of NT$12.46 billion and employee cash bonus of NT$2.32 billion.
3. Capital reduction of NT$57.39 billion. The capital reduction is subject to approval from Financial Supervisory Commission. Related procedures and timetables will be announced after the approval from the FSC.
- After FSC approves the plan, the Company will cancel 5,739 million of its outstanding shares, which is approximately 30% of total shares issued as of December 2006. Shareholders will receive approximately NT$3 for each of their shares held.
4. The amendment of the Company's "Acquisition or Disposal of Assets Procedure" in Article 2, 5, 6, 9, 11, 15, 18, 21 and 28, the amendment of the Company's "Rules of Election of Directors and Supervisors" in Article 2, 2-1, 3 and 8-1, the amendment of Company's Articles of Incorporation in Article 6, 12, 13, 14, 15, 16, 17 and 25 to accommodate the Company Law and Securities and Exchange Act and requirements from related operations, and the subsequent amendment of Article 25 to record the most recent amendments to the Articles of Incorporation.

About UMC
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 13,000 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.