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To: DJBEINO who wrote (5963)	9/14/1999 1:28:00 AM
From: DJBEINO	Respond to of 9582

UMC 2303 closed @80.50 - 1.00 vol 55,499,791

To: DJBEINO who wrote (5963)	9/14/1999 1:53:00 AM
From: DJBEINO	Read Replies (1) \| Respond to of 9582

Taiwan's UMC Units To Lose Some Tax Breaks After Merger Dow Jones Newswires TAIPEI -- United Microelectronics Corp.'s units that are due to be merged at the end of the year will lose some tax breaks once the merger is completed, Vice Finance Minister Yen Ching-chang said Monday. The units, which will lose some preferential tax breaks accorded to start-up operations, may be able to enjoy as yet undetermined breaks that may be introduced to encourage mergers in Taiwan, Yen said. Individual shareholders won't be affected by the UMC merger, he added. UMC, Taiwan's second biggest chipmaker, announced in June it would merge joint ventures United Semiconductor Corp., United Integrated Circuits Corp. and United Silicon Inc., as well as Utek Semiconductor Corp.. Analysts welcomed the move, which comes amid a growing consolidation of the global chip industry, saying it would streamline operations and improve transparency.