Chunghwa Telecom Awarded as the Best Managed Telecom Company in Taiwan in Finance Asia Poll.

TAIPEI, Taiwan, R.O.C. -- Chunghwa Telecom Co., Ltd (TAIEX: 2412, NYSE: CHT) ("Chunghwa" or "the Company") was named Taiwan's Best Managed Telecom Company in Finance Asia's 2006 poll.

Finance Asia conducted a poll to evaluate the overall management of corporations in Taiwan. Chunghwa Telecom was recognized in the following categories: "Best Managed Companies" and "Best Commitment to Strong Dividends." In both categories, the Company ranked first among Taiwan's telecom operators. Chunghwa Telecom's Chairman Ho Chen was presented with the two prizes by Mr. Jonathan Hirst, CEO of Finance Asia.

Creating shareholder value has always been the Company's primary goal. The Company committed to reducing costs and enhancing operational efficiencies. As a part of this, the Company reduced headcount through an early retirement program and conducted a share buyback program, both of which were successfully achieved. The early retirement program that was announced in March restructured the Company's workforce and is expected to enhance operating efficiency and save personnel expenses in the future. The share buyback program was also approved and successfully completed during the buyback period. The shares that were bought back were canceled at the end of June. This year, the Company continued its policy of maintaining high dividend by distributing NT$4.3 cash per share and announcing a NT$0.2 dividend per share in stock for the first time to share its operating results with its shareholders.

About Chunghwa Telecom

Chunghwa Telecom (TAIEX 2412, NYSE: CHT) is the leading telecom service provider in Taiwan. Chunghwa Telecom provides fixed line, mobile and Internet and data services to residential and business customers in Taiwan.