The R.O.C. Taiwan Fund Reports First Quarter 2001 Financial Highlights

Apr 19, 2001, 01:00 ET from The R.O.C. Taiwan Fund

    NEW YORK, April 19 /PRNewswire/ -- The R.O.C. Taiwan Fund (NYSE:   ROC), a
 diversified closed-end investment company registered in the United States,
 today announced its first quarter 2001 financial results.
     On March 31, 2001, total net assets of the Fund were $215,540,025 or a net
 asset value per share of $6.59.  This compares with total net assets of
 $399,631,914 or a net asset value per share of $12.22 at March 31, 2000.
 Total net assets on December 31, 2000 were $188,938,628 or a net asset value
 per share of $5.78.  Total shares outstanding for all three quarters was
 32,698,976.  On December 5, 2000 the Fund announced a dividend of $0.37 per
 share payable on January 26, 2001 to shareholders of record on December 22,
 2000.
     For the quarter ended March 31, 2001, the Fund had a realized capital loss
 of $16,969,653 or $0.52 per share.  During the same quarter, the Fund had a
 net investment loss (ordinary income minus operating expenses) of $788,917 or
 $0.02 per share.
     The Fund's equity investments as of March 31, 2001 were in the following
 industries:
 
                                                   Percent of
     Industry                                      Net Assets
 
     Semiconductors                                    15.40%
     Electronics                                        14.55
     Banking                                            13.81
     Plastics                                            6.41
     Computer Services & Software                        5.40
     Steel & Other Metals                                5.36
     Communications Equipment                            4.98
     Computers & Office Equipment                        4.52
     Other Financials                                    4.15
     Transportation                                      2.06
 
     As of March 31, 2001, the Fund's 10 largest equity holdings, representing
 42.73% of net assets, were in:
 
                                                   Percent of
     Company                                       Net Assets
 
     United World Chinese Commercial Bank               5.54%
     Cradle Technology Corp.                             5.40
     Winbond Electronics Corp.                           4.83
     Asustek Computer Inc.                               4.49
     Silicon Integrated Systems Corp.                    4.45
     United Microelectronics Corp.                       4.11
     China Steel Corp.                                   3.74
     Taipei Bank                                         3.49
     Powerchip Semiconductor Corp.                       3.45
     Formosa Plastics Corp.                              3.23
 
     The R.O.C. Taiwan Fund is listed and publicly traded in the United States.
 The Fund is organized for investment in securities of R.O.C. issuers by non-
 R.O.C. investors.  The R.O.C. Taiwan Fund's investment adviser and manager is
 International Investment Trust Company Limited.
 
                               Quarter Ended   Quarter Ended Quarter Ended
                                     3/31/01        12/31/00       3/31/00
 
     Total
     Net Assets                 $215,540,025    $188,938,628  $399,631,914
 
     NAV
     Per Share                         $6.59           $5.78        $12.22
 
     Shares
     Outstanding                  32,698,976      32,698,976    32,698,976
 
 

SOURCE The R.O.C. Taiwan Fund
    NEW YORK, April 19 /PRNewswire/ -- The R.O.C. Taiwan Fund (NYSE:   ROC), a
 diversified closed-end investment company registered in the United States,
 today announced its first quarter 2001 financial results.
     On March 31, 2001, total net assets of the Fund were $215,540,025 or a net
 asset value per share of $6.59.  This compares with total net assets of
 $399,631,914 or a net asset value per share of $12.22 at March 31, 2000.
 Total net assets on December 31, 2000 were $188,938,628 or a net asset value
 per share of $5.78.  Total shares outstanding for all three quarters was
 32,698,976.  On December 5, 2000 the Fund announced a dividend of $0.37 per
 share payable on January 26, 2001 to shareholders of record on December 22,
 2000.
     For the quarter ended March 31, 2001, the Fund had a realized capital loss
 of $16,969,653 or $0.52 per share.  During the same quarter, the Fund had a
 net investment loss (ordinary income minus operating expenses) of $788,917 or
 $0.02 per share.
     The Fund's equity investments as of March 31, 2001 were in the following
 industries:
 
                                                   Percent of
     Industry                                      Net Assets
 
     Semiconductors                                    15.40%
     Electronics                                        14.55
     Banking                                            13.81
     Plastics                                            6.41
     Computer Services & Software                        5.40
     Steel & Other Metals                                5.36
     Communications Equipment                            4.98
     Computers & Office Equipment                        4.52
     Other Financials                                    4.15
     Transportation                                      2.06
 
     As of March 31, 2001, the Fund's 10 largest equity holdings, representing
 42.73% of net assets, were in:
 
                                                   Percent of
     Company                                       Net Assets
 
     United World Chinese Commercial Bank               5.54%
     Cradle Technology Corp.                             5.40
     Winbond Electronics Corp.                           4.83
     Asustek Computer Inc.                               4.49
     Silicon Integrated Systems Corp.                    4.45
     United Microelectronics Corp.                       4.11
     China Steel Corp.                                   3.74
     Taipei Bank                                         3.49
     Powerchip Semiconductor Corp.                       3.45
     Formosa Plastics Corp.                              3.23
 
     The R.O.C. Taiwan Fund is listed and publicly traded in the United States.
 The Fund is organized for investment in securities of R.O.C. issuers by non-
 R.O.C. investors.  The R.O.C. Taiwan Fund's investment adviser and manager is
 International Investment Trust Company Limited.
 
                               Quarter Ended   Quarter Ended Quarter Ended
                                     3/31/01        12/31/00       3/31/00
 
     Total
     Net Assets                 $215,540,025    $188,938,628  $399,631,914
 
     NAV
     Per Share                         $6.59           $5.78        $12.22
 
     Shares
     Outstanding                  32,698,976      32,698,976    32,698,976
 
 SOURCE  The R.O.C. Taiwan Fund