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VIS Reports 2005 Revenue OF NT$11,371 million and Earnings Per Share of NT$1.68
Hsinchu, Taiwan, January 25, 2006 - Vanguard International Semiconductor Corporation, a leading specialty IC foundry service provider today announced fourth quarter 2005 financial results. Fourth quarter revenue was NT$3,219 million, generating after tax net income of NT$788 million, or NT$0.49 per share. Accumulated revenue for the year of 2005 totaled NT$11,371 million, with after tax net income of NT$2,711 million, and EPS of NT$1.68.

Compared with the previous quarter, fourth quarter revenue grew 1%, both net income and earnings per share increased by 42%. On a year-over-year comparison, revenue for the year of 2005 decreased 11%. Net income and earnings per share decreased by around 50%.

Wafer shipment for the fourth quarter reached 144,000 wafers, declining 10% from 160,000 wafers in the third quarter, however slightly higher than 140,000 wafers from the same period in 2004. VIS spokesperson Mr. George Liu said, ˇ§Customer are tending towards a conservative stock level, thus causing a slightly drop in wafer out amount. Fourth quarter average utilization rate decreased to 86% from 93% of the previous quarter. However, sales from 0.25µm increased to 27% from 17% in the previous quarter and sales of specialty IC services reached 63%, notably higher than 45% of the previous quarter. Because of a better product mix, gross margin reached 45% from 36%.

In 2005, the wafer shipments totaled 544,000 wafers, declining by approximately 12% from 616,000 wafers of 2004. But foundry service grew by about 3%. Average utilization rate reached 81%, gross margin was 37%, up 5% from 2004.

For the first quarter of 2006, VIS spokesperson Mr. George Liu said, ˇ§We expect wafer shipment to decrease by approximately 15%, and utilization rate to be around 75%, mainly because of conservative inventory level among customers, fewer working day during Chinese New Year, and traditional low season. Also, we predict the blended ASP will decrease by a high single percentage point sequentially, and gross margin to be in the range of 26%~28% for the first quarter of 2006.ˇ¨

Media Contacts:
George Liu
Acting President
Vanguard International Semiconductor Corporation
Tel: 886-3-5770355 ext. 8007
Fax: 886-3-5773504
E-mail: pr@vis.com.tw

Michelle Chang
Public Relations
Vanguard International Semiconductor Corporation
Tel: 886-3-5770355 ext.1900
Fax: 886-3-5773504
E-mail: ijchang@vis.com.tw