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The Taiwan Fund, Inc. Announces 1st Quarter Earnings

NEW YORK, Jan. 14, 2011 /PRNewswire/ -- The Taiwan Fund, Inc. (the "Fund") (NYSE: TWN) announced today details regarding its investment performance for the three month period ended November 30, 2010.

The Fund reported a net asset value per share of $18.90 as of the close of business on November 30, 2010. This represents an increase of $2.57 per share from the net asset value per share of $16.33 reported on August 31, 2010. The Fund's share price as traded on the New York Stock Exchange on November 30, 2010 was $16.88, representing a discount to net asset value of 10.69%. This represents an increase of $2.21 per share from the share price of $14.67 on August 31, 2010, which represented a discount to net asset value of 10.17%. The Fund had a total return of 15.74% for the three months ended November 30, 2010, based on the change in its net asset value. For the same period the Taiwan Stock Exchange Index, a price index and not a total return index, returned 15.52% (in US$ terms).

For the three month period ended November 30, 2010, the Fund had net realized gains of $18,654,937 on investment transactions and a change in net unrealized gains of $29,764,670 on investments held. The Fund's net investment loss (consisting of dividend and interest income less operating expenses) for the same period was $777,228.

The Fund is a diversified closed-end investment company, which seeks long term capital appreciation primarily through investments in equity securities listed on the Taiwan Stock Exchange. Shares of the Fund are listed on the New York Stock Exchange under the ticker symbol "TWN." For additional information on the Fund, including information on the Fund's holdings, please visit the Fund's website at www.thetaiwanfund.com or call 1-877-864-5056.


	Quarter Ended November 30, 2010	Year Ended August 31, 2010	Quarter Ended November 30, 2009

Total Net Assets	$351,054,740	$303,412,360	$287,292,332

Gross Investment Income Per Share	$493,976 $0.03	$9,113,313	$111,512 $0.01

Net Investment Income (Loss) Per Share	$(777,228) $(0.04)	$2,992,423	$(899,426) $(0.05)

Net Realized Gain (Loss) on Investments and Foreign Currency Transactions	$18,654,937	$41,584,852	$13,467,872

Change in Net Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations	$29,764,670	$3,083,293	$17,661,838

Total Realized and Unrealized Gain (Loss) on Investments Per Share	$48,419,607 $2.61	$44,668,145	$31,129,710 $1.68

Net Increase (Decrease) in Net Assets Resulting from Operations Per Share	$47,642,379 $2.56	$47,660,568	$30,230,284 $1.63