The Taiwan Fund, Inc. Announces Commencement Of Share Repurchase Program Under Which The Fund Will Repurchase In Each 12-Month Period Ended August 31 Up To 10% Of Its Common Stock Outstanding

The Board of Directors (the "Board") of The Taiwan Fund, Inc. (the "Fund") (NYSE:TWN), today announced that its previously communicated share repurchase program ( the "Program"), under which the Fund will repurchase in each twelve month period ended August 31 up to 10% of its common stock outstanding as of the close of business on August 31 the prior year, has commenced.  Such purchases will be made opportunistically at certain discounts to net asset value per share in the reasonable judgment of management based on historical discount levels and current market conditions. The Fund will repurchase shares in accordance with procedures approved by the Board. These repurchases may be commenced or suspended at any time or from time to time without any notice.

The Fund will report repurchase activity on the Fund's website on a weekly basis.

The Fund 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 under the ticker symbol "TWN."