UMC Reports 2005 Second Quarter Results: Wafer Shipment Growth Rebounds; Trend Expected to Continue


Safe Harbor Statements

Except for statements in respect of historical matters, the statements in this release contain "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual performance, financial condition or results of operations of UMC to be materially different from what is stated or may be implied in such forward-looking statements. Investors are cautioned that actual events and results could differ materially from those statements as a result of a number of factors, including, among other things: our dependence upon the frequent introduction of new services and technologies based on the latest developments in our industry; the intensely competitive semiconductor, communications, consumer electronics and computer industries and markets; the risks associated with international global business activities; our dependence upon key personnel; general economic and political conditions, including those related to the semiconductor, communications, consumer electronics and computer industries; possible disruptions in commercial activities caused by natural and human-induced events and disasters, including terrorist activities, armed conflicts and highly contagious diseases; reduced end-user purchases relative to expectations and orders; fluctuations in foreign currency exchange rates; and those risks identified in the section entitled "Risk Factors" in UMC's Annual Report on Form 20-F for the year ended December 31, 2004 filed with the U.S. Securities and Exchange Commission on June 29, 2005.

The financial statements included in this release are unaudited and unconsolidated, and prepared and published in accordance with ROC GAAP. Investors are cautioned that there are many differences between ROC GAAP and U.S. GAAP, as described in note 33 to the financial statements on Form 20-F for the year ended December 31, 2004 filed with the U.S. Securities and Exchange Commission on June 29, 2005.

The forward-looking statements in this release reflect the current belief of UMC as of the date of this release and UMC undertakes no obligation to update these forward-looking statements for events or circumstances that occur after such date or to reflect the occurrence of unanticipated events.
                 UNITED MICROELECTRONICS CORPORATION
          Unaudited Condensed Unconsolidated Balance Sheet
                         As of June 30, 2005
 Figures in Million of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

                                              June 30, 2005
                                    ---------------------------------
                                        US$          NT$         %
                                    -----------  -----------  -------
ASSETS
Current Assets
 Cash and Cash Equivalents               2,155       68,065     21.8%
 Marketable Securities                      97        3,059      1.0%
 Notes & Accounts Receivable               305        9,647      3.1%
 Inventories                               250        7,899      2.5%
 Other Current Assets                      155        4,909      1.6%
                                    -----------  -----------  -------
    Total Current Assets                 2,962       93,579     30.0%
                                    -----------  -----------  -------

Non-Current Assets
 Funds and Long-term Investments         1,425       45,021     14.4%
 Other Financial Assets                     36        1,153      0.4%
 Property, Plant and Equipment           5,061      159,871     51.2%
 Intangible Assets                         145        4,568      1.5%
 Other Assets                              247        7,792      2.5%
                                    -----------  -----------  -------
    Total Non-Current Assets             6,914      218,405     70.0%
                                    -----------  -----------  -------
TOTAL ASSETS                             9,876      311,984    100.0%
                                    ===========  ===========  =======

LIABILITIES
Current Liabilities
 Short-term Loans                           52        1,645      0.5%
 Payables                                  455       14,358      4.6%
 Current Portion of Long-term
  Interest-Bearing Liabilities             166        5,250      1.7%
 Other Current Liabilities                  26          820      0.3%
                                    -----------  -----------  -------
    Total Current Liabilities              699            22,073            7.1%
                                                                        -----------    -----------    -------

Non-Current  Liabilities
  Bonds  Payable                                                          898              28,347            9.1%
  Other  Liabilities                                                  111                3,504            1.1%
                                                                        -----------    -----------    -------
        Total  Non-Current  Liabilities                1,009              31,851          10.2%
                                                                        -----------    -----------    -------
TOTAL  LIABILITIES                                                1,708              53,924          17.3%
                                                                        -----------    -----------    -------

STOCKHOLDERS'  EQUITY
Capital  Stock                                                        6,247            197,355          63.3%
Capital  Reserve                                                    2,691              85,014          27.2%
Retained  Earnings,  Unrealized  Long-
  term  Investment  Loss  and
  Translation  Adjustment                                        309                9,769            3.1%
Treasury  Stock                                                    (1,079)          (34,078)      -10.9%
                                                                        -----------    -----------    -------
TOTAL  STOCKHOLDERS'  EQUITY                              8,168            258,060          82.7%
                                                                        -----------    -----------    -------
TOTAL  LIABILITIES  AND  STOCKHOLDERS'
  EQUITY                                                                    9,876            311,984        100.0%
                                                                        ===========    ===========    =======


----------------------------------------------------------------------
Note:  New  Taiwan  Dollars  have  been  translated  into  U.S.  Dollars  at  the
            June  30,  2005  exchange  rate  of  NT$31.59  per  U.S.  Dollar.
            All  figures  are  in  ROC  GAAP.



                                  UNITED  MICROELECTRONICS  CORPORATION
                  Unaudited  Condensed  Unconsolidated  Income  Statement
Figures  in  Million  of  New  Taiwan  Dollars  (NT$)  and  U.S.  Dollars  (US$)
                                    Except  Per  Share  and  Per  ADS  Data


                                                                            Year  over  Year  Comparison
                                                              ---------------------------------------
                                                                    Three-Month  Period  Ended
                                                                June  30,  2005      June  30,  2004          %
                                                              ---------------  ---------------  -------
                                                                US$          NT$          US$          NT$          Chg.
                                                              ------  --------  ------  --------  -------
Net  Sales                                                615      19,443        924      29,177      -33.4%
Cost  of  Goods  Sold                            (609)  (19,231)    (605)  (19,119)        0.6%
                                                              ------  --------  ------  --------  -------
Net  Gross  Profit                                      6            212        319      10,058      -97.9%
                                                              ------  --------  ------  --------  -------
                                                                  1.1%          1.1%    34.5%        34.5%
Operating  Expenses
    -  Sales  &  Marketing                          17            530          16            482        10.0%
    -  General  &  Administrative            27            851          19            603        41.1%
    -  Research  &  Development                68        2,170          44        1,381        57.1%
                                                              ------  --------  ------  --------  -------
                                                                  112        3,551          79        2,466        44.0%
                                                              ------  --------  ------  --------  -------
Operating  Income  (Loss)                  (106)    (3,339)      240        7,592    -144.0%
                                                              -17.2%      -17.2%    26.0%        26.0%

Net  Non-Operating  Income
  (Expenses)                                            115        3,638        162        5,111      -28.8%
                                                              ------  --------  ------  --------  -------
Income  (Loss)  before  Income
  Tax                                                              9            299        402      12,703      -97.6%
                                                                  1.5%          1.5%    43.5%        43.5%

Income  Tax  (Expense)  Benefit            (0)            (0)        (0)            (1)    -87.2%
                                                              ------  --------  ------  --------  -------
Net  Income  (Loss)                                    9            299        402      12,702      -97.6%
                                                              ======  ========  ======  ========  -------
                                                                  1.5%          1.5%    43.5%        43.5%

Earnings  per  Share                          0.001          0.02    0.024          0.76
                                                              ------  --------  ------  --------
Earnings  per  ADS  (2)                      0.003          0.10    0.120          3.80
                                                              ------  --------  ------  --------
Weighted  Average  Number  of
  Shares
Outstanding  (in  millions)                            16,557                    16,650
                                                                            --------                --------


----------------------------------------------------------------------
Note:
(1)  New  Taiwan  Dollars  have  been  translated  into  U.S.  Dollars  at  the
        June  30,  2005  exchange  rate  of  NT$31.59  per  U.S.  Dollar.
        All  figures  are  in  ROC  GAAP.
(2)  1  ADS  equals  5  common  shares.



                                  UNITED  MICROELECTRONICS  CORPORATION
                  Unaudited  Condensed  Unconsolidated  Income  Statement
Figures  in  Million  of  New  Taiwan  Dollars  (NT$)  and  U.S.  Dollars  (US$)
                                    Except  Per  Share  and  Per  ADS  Data

                                                                    Quarter  over  Quarter  Comparison
                                                            ----------------------------------------
                                                                  Three-Month  Period  Ended
                                                              June  30,  2005    March  31,  2005          %
                                                            ---------------  ---------------  --------
                                                              US$          NT$          US$          NT$            Chg.
                                                            ------  --------  ------  --------  --------
Net  Sales                                              615      19,443        642      20,286          -4.2%
Cost  of  Goods  Sold                          (609)  (19,231)    (545)  (17,229)        11.6%
                                                            ------  --------  ------  --------  --------
Net  Gross  Profit                                    6            212          97        3,057        -93.1%
                                                            ------  --------  ------  --------  --------
                                                                1.1%          1.1%    15.1%        15.1%
Operating  Expenses
    -  Sales  &  Marketing                        17            530          16            521            1.7%
    -  General  &  Administrative          27            851          14            447          90.4%
    -  Research  &  Development              68        2,170          57        1,787          21.4%
                                                            ------  --------  ------  --------  --------
                                                                112        3,551          87        2,755          28.9%
                                                            ------  --------  ------  --------  --------
Operating  Income  (Loss)                (106)    (3,339)        10            302    -1205.6%
                                                            -17.2%      -17.2%      1.5%          1.5%

Net  Non-Operating  Income
  (Expenses)                                          115        3,638          38        1,217        198.9%
                                                            ------  --------  ------  --------  --------
Income  (Loss)  before  Income
  Tax                                                            9            299          48        1,519        -80.3%
                                                                1.5%          1.5%      7.5%          7.5%

Income  Tax  (Expense)  Benefit          (0)            (0)        (0)            (0)          0.0%
                                                            ------  --------  ------  --------  --------
Net  Income  (Loss)                                  9            299          48        1,519        -80.3%
                                                            ======  ========  ======  ========  --------
                                                                1.5%          1.5%      7.5%          7.5%

Earnings  per  Share                        0.001          0.02    0.003          0.09
                                                            ------  --------  ------  --------
Earnings  per  ADS  (2)                    0.003          0.10    0.014          0.45
                                                            ------  --------  ------  --------
Weighted  Average  Number  of
  Shares
Outstanding  (in  millions)                          16,557                    16,602
                                                                          --------                --------


----------------------------------------------------------------------
Note:
(1)  New  Taiwan  Dollars  have  been  translated  into  U.S.  Dollars  at  the
        June  30,  2005  exchange  rate  of  NT$31.59  per  U.S.  Dollar.
        All  figures  are  in  ROC  GAAP.
(2)  1  ADS  equals  5  common  shares.



                                  UNITED  MICROELECTRONICS  CORPORATION
                  Unaudited  Condensed  Unconsolidated  Income  Statement
Figures  in  Million  of  New  Taiwan  Dollars  (NT$)  and  U.S.  Dollars  (US$)
                                    Except  Per  Share  and  Per  ADS  Data

                                                For  the  Three-Month          For  the  Six-Month
                                                        Period  Ended                        Period  Ended
                                                      June  30,  2005                      June  30,  2005
                                              ----------------------  -----------------------
                                                US$          NT$            %            US$            NT$          %
                                              ------  --------  ------  -------  --------  ------
Net  Sales                                615      19,443    100.0%    1,258      39,729    100.0%
Cost  of  Goods  Sold            (609)  (19,231)  -98.9%  (1,155)  (36,460)  -91.8%
                                              ------  --------  ------  -------  --------  ------
Net  Gross  Profit                      6            212        1.1%        103        3,269        8.2%
                                              ------  --------  ------  -------  --------  ------

Operating  Expenses
    -  Sales  &  Marketing          17            530        2.7%          33        1,051        2.6%
    -  General  &
      Administrative                  27            851        4.4%          41        1,298        3.2%
    -  Research  &
      Development                        68        2,170      11.2%        125        3,957      10.0%
                                              ------  --------  ------  -------  --------  ------
                                                  112        3,551      18.3%        199        6,306      15.8%
                                              ------  --------  ------  -------  --------  ------
Operating  Income  (Loss)  (106)    (3,339)  -17.2%        (96)    (3,037)    -7.6%

Net  Non-Operating
  Income  (Expenses)              115        3,638      18.7%        154        4,855      12.2%
                                              ------  --------  ------  -------  --------  ------
Income  (Loss)  before
  Income  Tax                                9            299        1.5%          58        1,818        4.6%

Income  Tax  (Expense)
  Benefit                                    (0)            (0)      0.0%          (0)            (0)      0.0%
                                              ------  --------  ------  -------  --------  ------
Net  Income  (Loss)                    9            299        1.5%          58        1,818        4.6%
                                              ======  ========  ======  =======  ========  ======

Earnings  per  Share          0.001          0.02                    0.003          0.11
                                              ------  --------                -------  --------
Earnings  per  ADS  (2)      0.003          0.10                    0.017          0.55
                                              ------  --------                -------  --------
Weighted  Average  Number
  of  Shares  Outstanding
  (in  millions)                                  16,557                                    16,580
                                                            --------                                --------


---------------------------------------------------------------------
Note:
(1)  New  Taiwan  Dollars  have  been  translated  into  U.S.  Dollars  at  the
        June  30,  2005  exchange  rate  of  NT$  31.59  per  U.S.  Dollar.
        All  figures  are  in  ROC  GAAP.
(2)  1  ADS  equals  5  common  shares.



                                  UNITED  MICROELECTRONICS  CORPORATION
            Unaudited  Condensed  Unconsolidated  Statement  of  Cash  Flows
                                For  The  Six  Months  Ended  June  30,  2005
  Figures  in  Million  of  New  Taiwan  Dollars  (NT$)  and  U.S.  Dollars  (US$)

                                                                                                              US$            NT$
                                                                                                          --------  --------
Cash  flows  from  operating  activities  :
    Net  Income                                                                                            58        1,818
    Depreciation  &  Amortization                                                        734      23,192
    Reversal  on  allowance  for  doubtful  accounts                          (4)        (116)
    Long-term  investment  loss  accounted  for  under  the
      equity  method                                                                                    68        2,144
    Cash  dividends  received  under  the  equity  method                    0                7
    Recovery  on  decline  in  market  value  and  absolesence  
      of  inventories                                                                                (10)        (315)
    Gain  on  disposal  of  investments                                              (204)    (6,440)
    Loss  on  disposal  of  property,  plant  and  equipment                1              30
    Exchange  gain  on  long-term  liabilities                                    (0)          (10)
    Amortization  of  deferred  grant  income                                      (1)          (27)
    Change  in  working  capital  &  others                                          (34)    (1,076)
                                                                                                          --------  --------
    Net  cash  provided  from  operating  activities                        608      19,207

Cash  flows  from  investing  activities  :
    Cash  proceeds  from  merger                                                              30            944
    Decrease  in  other  financial  assets,  net                                  15            467
    Increase  in  long-term  investments                                            (74)    (2,327)
    Proceeds  from  disposal  of  long-term  investments                229        7,230
    Proceeds  from  liquid  of  long-term  investments                        3              95
    Acquisition  of  property,  plant  and  equipment                    (247)    (7,812)
    Proceeds  from  disposal  of  property,  plant  and
      equipment                                                                                              2              78
    Increase  in  other  assets  -  others,  net                                    (4)        (130)
    Increase  in  deferred  charges                                                      (22)        (686)
    Other  receivables                                                                          (163)    (5,138)
                                                                                                          --------  --------
    Net  cash  used  in  investing  activities                                  (231)    (7,279)

Cash  flows  from  financing  activities  :
    Decrease  in  short-term  loans,  net                                              (8)        (259)
    Repayment  of  long-term  loans                                                    (511)  (16,154)
    Redemption  of  bonds                                                                        (89)    (2,820)
    Decrease  in  deposits-in                                                                  (0)            (1)
    Treasury  stock                                                                                (271)    (8,570)
    Employee  stock  option                                                                      20            640
                                                                                                          --------  --------
    Net  cash  used  in  financing  activities                                  (859)  (27,164)

Effect  of  exchange  rate  on  cash  and  cash  equivalents            (1)          (46)
                                                                                                          --------  --------
Net  increase  in  cash  and  cash  equivalents                              (483)  (15,282)
                                                                                                          --------  --------

Cash  and  cash  equivalents  at  beginning  of  period              2,638      83,347

Cash  and  cash  equivalents  at  end  of  period                          2,155      68,065
                                                                                                          ========  ========


----------------------------------------------------------------------
Note:  New  Taiwan  Dollars  have  been  translated  into  U.S.  Dollars  at  the
            June  30,  2005  exchange  rate  of  NT$  31.59  per  U.S.  Dollar.
            All  figures  are  in  ROC  GAAP.
 


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