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To: DJBEINO who wrote (40774)	11/9/1998 10:22:00 AM
From: DJBEINO	Read Replies (1) \| Respond to of 53903

TSMC PREDICTS A BRIGHTER YEAR AHEAD FOR SEMICONDUCTOR INDUSTRY -------------------------------------------------------------------------------- Taipei, Nov. 8 (CNA) Morris Chang, chairman and CEO of Taiwan Semiconductor Manufacturing Corp. (TSMC), predicted on Sunday that the semiconductor industry will rebound next year after a disappointing year in 1998. Chang also said TSMC expects turnover growth above the worldwide average for semiconductor companies. This year has been a disappointing one for the semiconductor industry, as the industry has performed worse than expected, Chang said. He noted that one year ago, all analysis and information pointed to a bright year for the semiconductor industry, but the industry went on to achieve negative growth in 1998. Looking ahead, he said that next year will be one of great challenge to the semiconductor industry. He noted that the economic situation in Asia has yet to bottom out, while the situation in Europe, Japan and the United States has not been stable. Chang explained that by saying the economic situation in Asia has yet to bottom out, he was referring to East Asia, which many economists have said will take years to rebound. For TSMC, Chang said that the economic situation in the United States, Europe and Japan will have the greatest impact. He said that the most optimistic predictions about the United States call for steady, rather than rapid, growth in the next two or there years. Even if the United States, Europe and Japan do experience only modest growth, the prospects for the semiconductor industry will be bright, he said. Chang was named one of the world's 25 top managers in 1997 by US-based Business Week magazine.