Announcing 1st Quarter Earnings
NEW YORK, New York, January 19, 2010

The Taiwan Fund, Inc. announced today details regarding its investment performance for the three month period ended November 30, 2009.

The Fund reported a net asset value per share of $15.47 as of the close of business on November 30, 2009. This represents an increase of $1.63 per share from the net asset value per share of $13.84 reported on August 31, 2009. The Fund share price as traded on the New York Stock Exchange on November 30, 2009 was $13.67, representing a discount to net asset value of 11.64%. This represents a increase of $1.53 per share from the share price of $12.14 on August 31, 2009, which represented a discount to net asset value of 13.68%. The Fund had a total return of 11.78% for the three months ended November 30, 2009, based on the change in its net asset value. For the same period, the Taiwan Stock Exchange Index had a total return of 13.62% (in US$ terms).

For the three-month period ended November 30, 2009, the Fund had net realized gains of $13,467,872 on investment transactions and a change in net unrealized gains of $17,661,838 on investments held. The Fund net investment loss (consisting of dividend and interest income less operating expenses) for the same period was $899,426.