[FOR IMMEDIATE RELEASE]

THE TAIWAN FUND, INC.

ANNOUNCES NET ASSET VALUE PUBLICATION

DURING THE CHINESE NEW YEAR HOLIDAY

        New York, New York, January 20, 2009 - The Taiwan Fund, Inc. (the ?und" (NYSE: TWN) announced today that, due to the closing of the Taiwan market during the Chinese New Year, the Fund will publish its net asset value during the period from January 22, 2009, through February 1, 2009 based on the Fund? net asset value calculated at the close of trading on January 21, 2009, the last trading date for the Taiwan Stock Exchange (TSE) prior to the Chinese New Year, as adjusted for changes in the currency exchange rate between the U.S. dollar and the Taiwan dollar.  During this time, the net asset value of the Fund will be adjusted if significant events occur in accordance with the Fund? fair valuation procedures. The TSE will re-open beginning February 2, 2009. 

        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 ?WN."  For additional information on the Fund, including information on the Fund's holdings, please call 1-800-636-9242, or visit the Fund? website at www.thetaiwanfund.com.

Contact:  Monique Labbe

                State Street Bank & Trust Co.

                617-662-2983