FOR IMMEDIATE RELEASE

The Taiwan Fund, Inc.

CONTACT:

John K. Walsh

State Street Bank and Trust Co.

617-662-2331

                The Taiwan Fund, Inc. Declares Dividend

NEW YORK, New York, December 18, 2009--The Taiwan Fund, Inc. (NYSE: TWN) announced today that it has declared an annual dividend to the Fund? stockholders in the amount equal to $0.07067 per share comprised entirely of net investment income. The dividend will be payable on January 8, 2010, to the stockholders of record at the close of business on December 31, 2009.

The Fund is a closed-end management investment company seeking long-term capital appreciation primarily through investment in the equity securities listed on the Taiwan Stock Exchange.

The Taiwan Fund, Inc. is traded on the New York Stock Exchange with the ticker symbol "TWN". For additional information on the Fund, including information on the Fund? holdings, please call 1-800-636-9242, or visit the Fund? website at www.thetaiwanfund.com.