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THE R.O.C. TAIWAN FUND REPORTS THIRD QUARTER FINANCIAL HIGHLIGHTS

    THE R.O.C. TAIWAN FUND REPORTS THIRD QUARTER FINANCIAL HIGHLIGHTS
    NEW YORK, Nov. 25 /PRNewswire/ -- The R.O.C. Taiwan Fund (NYSE: ROC), a diversified closed-end investment company registered in the United States, today announced its performance for the quarter ended Sept. 30, 1991, the third quarter of its fiscal year.
    On Sept. 30, 1991 the fund's total net assets were $267,797,613 or a net asset value per share of $10.39 based on 25,778,432 shares outstanding.  This compares with 1990 third quarter total net assets of $181,524,897 or a net asset value per share of $7.04 based on 25,776,002 shares outstanding.  For the quarter ended June 30, 1991, the fund's total net assets were $287,687,949 or a net asset value per share of $11.16 based on 25,783,132 shares outstanding.
                           R.O.C. TAIWAN FUND
                       (amounts in U.S. dollars)
    Quarter ended          9/30/91      6/30/91        9/30/90
     Total net assets    $267,797,613  $287,687,949  181,524,897
     Net asset value
      per share                $10.39        $11.16        $7.04
     Shares outstanding    25,778,432     25,783,132  25,776,002
    In July of this year, the fund announced that the fund's board of trustees authorized the fund to repurchase up to $10 million worth of its shares from time to time pursuant to a repurchase program complying with the provisions of Rule 10b-18 under the Securities Exchange Act. During the third quarter the fund began to repurchase its own shares and, in the future, may do so when the fund's shares are selling on the New York Stock Exchange at a discount to net asset value.
    The R.O.C. Taiwan Fund is the oldest and largest fund organized for investment in securities of R.O.C. issuers by non-R.O.C. investors.  The fund is one of only two which are listed and publicly traded in the United States.  The fund's investment adviser and manager is International Investment Trust Company Limited, the first of four currently authorized securities investment trust enterprises formed to raise and manage trust funds for investment in R.O.C. securities.
    -0-           11/25/91
    /CONTACT:  Steven R. Champion of International Investment Trust Company, 011-886-2-713-7702; Steven Kennedy or George Arvantides of Dewe Rogerson Inc., 212-688-6840, for R.O.C. Taiwan Fund/
    (ROC) CO:  R.O.C. Taiwan Fund ST:  New York IN:  FIN SU:  ERN FC-SH -- NY040 -- 6829 11/25/91 12:07 EST
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Publication:PR Newswire
Date:Nov 25, 1991
Words:419
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