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TAIWAN FUND ANNOUNCES INVESTMENT PERFORMANCE RESULTS

 TAIWAN FUND ANNOUNCES INVESTMENT PERFORMANCE RESULTS
 BOSTON, June 17 /PRNewswire/ -- The Taiwan Fund, Inc. (NYSE: TWN) announced today details regarding its investment performance for the three-month period ended May 31, 1992, and for the nine months ended May 31, 1992.
 The Fund reported a net asset value per share as of the close of business of May 31, 1992, of $21.82. This is a decrease of $1.21 per share or 5.25 percent from the $23.03 net asset value per share reported on Feb. 29, 1992. In the same period, the Taiwan Stock Exchange Index (TAIEX) declined 12.12 percent, while the New Taiwan dollar rose 1.05 percent compared with the U.S. dollar.
 For the nine months ended May 31, 1992, the Fund's net asset value per share increased $2.15 per share or 10.93 percent from the $19.67 net asset value per share reported on Aug. 31, 1991. The TAIEX declined 0.53 percent and the New Taiwan dollar rose 6.76 percent compared with the U.S. dollar over the same period.
 During the fiscal quarter ended May 31, 1992, the Fund had net realized losses on investment transactions of $1,126,494 and net unrealized depreciation on investments held of $7,386,989. Net investment income (consisting of interest income less operating expenses) for the quarter was $673,236.
 For the nine months ended May 31, 1992, the Fund had net realized gains on investment transactions of $6,371,456 and net unrealized appreciation on investments held of $11,568,356. Net investment income for the period was $78,689.
 Effective July 1, 1992, Michael Chen, currently deputy portfolio manager of the fund, will replace Danny Chan as the Fund's portfolio manager. Chen's appointment will be subject to appropriate board ratification. Chen has worked closely with Chan over the past six years, and in his new position Chen will continue to be supported by Fidelity Investments' strong research team in Taiwan.
 The Taiwan Fund, Inc. is a diversified closed-end investment company which seeks long term capital appreciation primarily through investments in equity securities listed on the Taiwan Stock Exchange. Shares of the fund are listed on the New York Stock Exchange.
 -0- 6/17/92
 /CONTACT: Gary French of the Taiwan Fund, 617-570-6556/
 (TWN) CO: Fidelity Investments; The Taiwan Fund ST: Massachusetts IN: FIN SU:


CN -- NE007 -- 1046 06/17/92 11:26 EDT
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Publication:PR Newswire
Date:Jun 17, 1992
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