|Hsinchu, Taiwan, April 4, 2006 ¡VVanguard International Semiconductor Corporation, a leading specialty IC foundry service provider, today held a board meeting, at which the board appointed Mr. S.J. Paul Chien as the President of VIS. The board approved this resolution in recognition of Mr. Chien's past achievements in transforming VIS from a DRAM company to an IC foundry company and expected Mr. Chien to lead VIS to reach higher goals. To further comply with the corporate governance regulations, Mr. Chien resigned from his duty as the Chairman of VIS after the appointment, but would remain to serve as the Director of the Board. The board also elected Mr. Y.G. Quintin Wu as the Chairman of the board. Both resolutions become effective on April 4 2006.
Mr. Chien said, ¡§I would like to express my sincere appreciation to the board for this recognition. I will do my best to meet the expectations of the board, and work with all VIS's employees to continuously improve our overall competitiveness. We believe our dedicated efforts will result in excellent profit and returns for our customers and shareholders.¡¨
The newly elected VIS Chairman, Mr. Y.G. Quintin Wu is also the Chairman of USI Corporation. USI Corporation has been providing its supports of the high-tech industry. The Company was one of the founders of TSMC and VIS. When VIS was founded, USI Corporation was the No. 3 major shareholder of VIS in addition to TSMC and the Development Fund of Executive Yuan. Mr. Wu has been serving as the Board Director since VIS was founded, and now he is the representative of USI Investment Co., Ltd to the board.