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VIS Board of Directors Proposes NT$2.35 Dividend Including NT$1.65 Cash Dividend and NT$0.7 Stock Dividend
Hsinchu, Taiwan, Feb. 25, 2005 - Vanguard International Semiconductor Corporation, a leading specialty IC foundry service provider, today held a meeting of Board of Directors, at which the Board proposed 2004 dividend distribution of NT$2.35 per share, including NT$1.65 in cash dividend, and NT$0.7 in stock dividend. The dividend distribution proposal will be presented for approval at the 2005 shareholders' meeting scheduled for May 20, 2005.

The Board of Directors also approved employee profit sharing for 2004, including NT$202.55 million in cash and 13,500 thousand shares in stock. After the dividend distribution and employee profit sharing, VIS' outstanding shares will increase from 1,470 million shares to 1,580 million shares.

VIS spokesperson Daniel Chen noted, ¡§The dividend distribution proposal is based on the dividend policy approved at the special shareholders' meeting in December 2004, and follows the principle that cash dividend would not be lower than 10 percent of total distribution.¡¨ In addition to meeting the operational growth of VIS, the emphasis on cash dividend is also consistent with the dividend distribution trend of the industry, so as to prevent excessive capital growth, and ensure shareholder's long-term ROE.

The Board of Directors also approved 2004 Business Report and Financial Statements. Revenue for 2004 totaled NT$ 15,879 million, up 46% from the previous year. Before tax income rose 3,170% to NT 5,820 million compared with last year, and after tax earnings of NT$4,755 million increased 2,571% from the same period last year, and earnings per share were NT$3.24.

The 2005 shareholders' meeting will be held at 9:00a.m. on May 20, 2005 at VIS(123, Park Ave-3rd, Hsinchu Science Park, Taiwan).

 
Media Contacts:
Daniel Chen
Spokesman
General Counsel, Vice President of Administration
Vanguard International Semiconductor Corporation
Tel: 886-3-5770355 ext.2009
Fax: 886-3-5773504
E-mail: Vanguard_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