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THE TAIWAN FUND INC. REPORTS INVESTMENT PERFORMANCE

 THE TAIWAN FUND INC. REPORTS INVESTMENT PERFORMANCE
 BOSTON, Nov. 4 /PRNewswire/ -- The Taiwan Fund, Inc. (NYSE: TWN)


announced today details regarding its investment performance for the three-month period and the year ended Aug. 31, 1992.
 The Fund reported a net asset value per share as of the close of business on Aug. 31, 1992 of $19.68. This is a decrease of $2.14 per share or 9.81 percent from the $21.82 net asset value per share reported on May 31, 1992. In the same period, the Taiwan Stock Exchange (TAIEX) declined 12.68 percent, and the New Taiwan dollar declined .74 percent against the U.S. dollar.
 For the fiscal quarter ended Aug. 31, 1992, the Fund had net realized losses on investment transactions of $8,559,332 and net unrealized depreciation on investments held of $10,880,687. Net investment income (consisting of dividend and interest income less operating expenses) for the quarter was $392,666.
 For the year ended Aug. 31, 1992, the Fund had a net realized loss on investment transactions of $2,187,876 and net unrealized appreciation on investments held of $687,669. Net investment income for the year was $471,355.
 The Taiwan Fund, Inc. is a diversified close-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.
 THE TAIWAN FUND INC.
 Financial Highlights
 Quarter Ended Year Ended
 Aug. 31, 1992 Aug. 31, 1992
 Total Net Assets $158,167,863 $158,167,863
 Gross Investment Income $1,717,922 $5,265,388
 Per Share 22 cents 69 cents
 Net Investment Income $392,666 $471,355
 Per Share 5 cents 6 cents
 Net Realized Gain (Loss)
 on Investments $(8,559,332) $(2,187,876)
 Per Share $(1.11) (29 cents)
 Change in Net Unrealized
 Gain (Loss) on Investments $(10,880,687) $687,669
 Per Share $(1.42) 9 cents
 Net Increase (Decrease)
 in Net Assets Resulting
 from Operations $(19,047,353) $(1,028,852)
 Per Share $(2.48) (14 cents)
 NYSE Share Price
 High $22.38 $30.88
 Low $15.50 $15.50
 -0- 11/04/92
 /CONTACT: Gary Ryan, 617-439-1706, or Sarah Murphy, 617-439-1220, of The Taiwan Fund, Inc./
 (TWN) CO: The Taiwan Fund, Inc. ST: Massachusetts IN: FIN SU: ERN


CH -- NE013 -- 2620 11/04/92 15:24 EST
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Date:Nov 4, 1992
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