UMC Reports 2008 Second Quarter Results

Please visit UMC's website http://www.umc.com/english/news/index.asp for further details regarding the above announcements.

    Third Quarter of 2008 Outlook & Guidance
    Quarter-over-quarter Guidance:

    -- Wafer Shipments: to be flat from previous quarter
    -- Wafer ASP in US$: to decrease by approximately 0-2% points
    -- Impact from Currency Fluctuation: 0% to -2% on revenue
    -- Capacity Utilization Rates: approximately 80%
    -- Profitability: gross profit margin to be in high teen % points
    -- The consumer segment is expected to be the strongest followed by the
       communication and computer segments
    -- 2008 Capex Budget: US$500-700 million

    Conference Call / Webcast Announcement
    Wednesday, July 30, 2008
    Time:  8:00 PM (Taipei) / 8:00 AM (New York) / 1:00 PM (London)

    Dial-in numbers and Access Codes:

    USA Toll Free:              1866 549 1292
    UK Toll Free:               0808 234 6305
    Singapore Toll Free:        800 852 3576
    Hong Kong and Other Areas:  +852 3005 2050

    Access Code:                UMC

A live webcast and replay of the 2Q08 results announcement will be available at http://www.umc.com under the "Investor Relations \ Investor Events" section.

About UMC

UMC (NYSE: UMC) (TSE: 2303) is a leading global semiconductor foundry that manufactures advanced system-on-chip (SoC) designs for applications spanning every major sector of the IC industry. UMC's SoC Solution Foundry strategy is based on the strength of the company's advanced technologies, which include production proven 90nm, 65nm, mixed signal/RFCMOS, and a wide range of specialty technologies. Production is supported through 10 wafer manufacturing facilities that include two advanced 300mm fabs; Fab 12A in Taiwan and Singapore-based Fab 12i are both in volume production for a variety of customer products. The company employs approximately 13,000 people worldwide and has offices in Taiwan, Japan, Singapore, Europe, and the United States. UMC can be found on the web at http://www.umc.com .

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 activity, armed conflict 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 ("20-F") for the year ended December 31, 2007 filed with the U.S. Securities and Exchange Commission on May 2, 2008.

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 US GAAP, as described in note 35 to the financial statements on 20-F.

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.

                       -- FINANCIAL TABLES TO FOLLOW --



                        UNITED MICROELECTRONICS CORPORATION
                  Unaudited Condensed Unconsolidated Balance Sheet
                                As of  June 30, 2008
      Figures in Million of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

                                                    June 30, 2008
                                             US$        NT$           %
    ASSETS
    Current Assets
     Cash and Cash Equivalents               838       25,418       10.4%
     Financial assets at fair value
      through profit or loss, current        109        3,309        1.4%
     Notes & Accounts Receivable             488       14,790        6.1%
     Inventories                             406       12,309        5.1%
     Other Current Assets                     84        2,546        1.0%
      Total Current Assets                 1,925       58,372       24.0%

    Non-Current Assets
     Funds and Long-term Investments       2,041       61,903       25.5%
     Property, Plant and Equipment         3,707      112,430       46.2%
     Intangible Assets                       123        3,745        1.5%
     Other Assets                            223        6,768        2.8%
           Total  Non-Current  Assets                          6,094            184,846              76.0%
          TOTAL  ASSETS                                                    8,019            243,218            100.0%

        LIABILITIES
          Current  Liabilities
          Short-term  Loans                                                  15                    456                0.2%
          Financial  liabilities  at  fair
            value  through  profit  or  loss,
            current                                                                    1                      33                0.0%
          Payables                                                                500              15,135                6.2%
          Dividends  payable                                              309                9,383                3.9%
          Other  Current  Liabilities                                  7                    215                0.1%
            Total  Current  Liabilities                            832              25,222              10.4%

        Non-Current  Liabilities
          Financial  liabilities  at  fair
            value  through  profit  or  loss,
            non-current                                                            1                      43                0.0%
          Bonds  Payable                                                      247                7,496                3.1%
          Other  Liabilities                                              123                3,719                1.5%
            Total  Non-Current  Liabilities                    371              11,258                4.6%
        TOTAL  LIABILITIES                                            1,203              36,480              15.0%

        STOCKHOLDERS'  EQUITY
        Capital  Stock                                                    4,580            138,921              57.1%
        Additional  Paid-in  Capital                          2,028              61,520              25.3%
        Retained  Earnings,  Unrealized  Gain
          on  Financial  Assets  and
        Translation  Adjustment                                      703              21,300                8.8%
        Treasury  Stock                                                    (495)          (15,003)            -6.2%
        TOTAL  STOCKHOLDERS'  EQUITY                          6,816            206,738              85.0%
        TOTAL  LIABILITIES  AND
          STOCKHOLDERS'  EQUITY                                    8,019            243,218            100.0%


        Note:  New  Taiwan  Dollars  have  been  translated  into  U.S.  Dollars  at  the
                    June  30,  2008  exchange  rate  of  NT$30.33  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
                                                                                Jun  30,  2008        Jun  30,  2007        %
                                                                          US$          NT$          US$          NT$              Chg.
        Net  Sales                                                833      25,238        827      25,097            0.6%
        Cost  of  Goods  Sold                            (642)  (19,443)    (664)  (20,139)        -3.5%
        Net  Gross  Profit                                  191        5,795        163        4,958          16.9%
                                                                      23.0%        23.0%    19.8%        19.8%                --
        Operating  Expenses
          --  Sales  &  Marketing                          20            620          24            732        -15.3%
          --  General  &  Administrative            25            744          23            691            7.7%
          --  Research  &  Development                69        2,090          76        2,309          -9.5%
                                                                          114        3,454        123        3,732          -7.4%
        Operating  Income  (Loss)                      77        2,341          40        1,226          90.9%
                                                                        9.3%          9.3%      4.9%          4.9%                --

        Net  Non-Operating  Income
          (Expenses)                                                4            120        138        4,182        -97.1%
        Income  (Loss)  from  continuing
          operations  before  income  tax          81        2,461        178        5,408        -54.5%
                                                                        9.8%          9.8%    21.6%        21.6%                --

        Income  Tax  (Expense)  Benefit            (2)          (64)      (16)        (497)      -87.1%
        Net  Income  (Loss)                                  79        2,397        162        4,911        -51.2%
                                                                        9.5%          9.5%    19.6%        19.6%                --

        Earnings  per  Share                          0.006          0.19    0.009          0.28                --
        Earnings  per  ADS  (2)                      0.032          0.95    0.046          1.40                --
        Weighted  Average
          Number  of  Shares
          Outstanding  (in  millions)                --      12,495          --      17,780                --



                                          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
                                                                            Jun  30,  2008        Mar  31,  2008            %
                                                                            US$          NT$          US$          NT$            Chg.
        Net  Sales                                                833      25,238        791      24,003            5.1%
        Cost  of  Goods  Sold                            (642)  (19,443)    (673)  (20,427)        -4.8%
        Net  Gross  Profit                                  191        5,795        118        3,576          62.1%
                                                                      23.0%        23.0%    14.9%        14.9%                --
        Operating  Expenses
          --  Sales  &  Marketing                          20            620          24            716        -13.4%
          --  General  &  Administrative            25            744          21            636          17.0%
          --  Research  &  Development                69        2,090          67        2,034            2.8%
                                                                          114        3,454        112        3,386            2.0%
        Operating  Income  (Loss)                      77        2,341            6            190    1,132.1%
                                                                          9.3%          9.3%      0.8%          0.8%              --

        Net  Non-Operating  Income
          (Expenses)                                                4            120            3              71          69.0%
        Income  (Loss)  from  continuing
          operations  before  income  tax          81        2,461            9            261        842.9%
                                                                        9.8%          9.8%      1.1%          1.1%                --

        Income  Tax  (Expense)  Benefit            (2)          (64)        (2)          (55)        16.4%
        Net  Income  (Loss)                                  79        2,397            7            206    1,063.6%
                                                                        9.5%          9.5%      0.9%          0.9%

        Earnings  per  Share                          0.006          0.19    0.001          0.02                --
        Earnings  per  ADS  (2)                      0.032          0.95    0.003          0.10                --
        Weighted  Average
          Number  of  Shares
          Outstanding  (in  millions)                --      12,495          --      12,495                --


        Note:
        (1)  New  Taiwan  Dollars  have  been  translated  into  U.S.  Dollars  at  the
                June  30,  2008  exchange  rate  of  NT$30.33  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  Period          For  the  year
                                                                        Ended                                        Ended
                                                                    Jun  30,  2008                        Jun  30,  2008
                                                            US$          NT$          %                US$            NT$        %
        Net  Sales                                  833      25,238    100.0%      1,624      49,241    100.0%
        Cost  of  Goods  Sold              (642)  (19,443)  -77.0%    (1,315)  (39,870)  -81.0%
        Net  Gross  Profit                    191        5,795      23.0%          309        9,371      19.0%

        Operating  Expenses
          --  Sales  &  Marketing            20            620        2.5%            44        1,336        2.7%
          --  General  &
                  Administrative                25            744        2.9%            46        1,380        2.8%
          --  Research  &
                  Development                      69        2,090        8.3%          136        4,124        8.4%
                                                            114        3,454      13.7%          226        6,840      13.9%
        Operating  Income  (Loss)        77        2,341        9.3%            83        2,531        5.1%

        Net  Non-Operating  Income
          (Expenses)                                  4            120        0.5%              7            191        0.4%
        Income  (Loss)  from
          continuing  operations
          before  income  tax                  81        2,461        9.8%            90        2,722        5.5%

        Income  Tax  (Expense)
          Benefit                                      (2)          (64)    -0.3%            (4)        (119)    -0.2%
        Net  Income  (Loss)                    79        2,397        9.5%            86        2,603        5.3%

        Earnings  per  Share            0.006          0.19            --      0.007          0.21            --
        Earnings  per  ADS  (2)        0.032          0.95            --      0.035          1.05            --

        Weighted  Average
          Number  of  Shares
          Outstanding  (in  millions)  --      12,495            --            --      12,495            --


        Note:
        (1)  New  Taiwan  Dollars  have  been  translated  into  U.S.  Dollars  at  the
                June  30,  2008  exchange  rate  of  NT$30.33  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  Jun.  30,  2008
            Figures  in  Million  of  New  Taiwan  Dollars  (NT$)  and  U.S.  Dollars  (US$)

                                                                                                      USD                              NTD
        Cash  flows  from  operating  activities:
          Net  Income                                                                          86                          2,603
          Depreciation  &  Amortization                                      627                        19,009
          Gain  on  recovery  in  market  value
            and  obsolescence  of  inventories                                3                              106
          Cash  dividends  received  under  the
            equity  method                                                                    4                              135
          Investment  loss  accounted  for
            under  the  equity  method                                                3                                87
          Gain  on  valuation  of  financial
            assets  and  liabilities                                                26                              775
          Impairment  loss                                                                  3                                86
          Gain  on  disposal  of  investments                              (39)                      (1,176)
          Gain  on  disposal  of  property,
            plant  and  equipment                                                      (1)                            (17)
          Exchange  gain  on  financial  assets
            and  liabilities                                                              (0)                            (14)
          Exchange  gain  on  long-term
            liabilities                                                                      (6)                          (179)
          Amortization  of  bond  discounts                                    0                                  7
          Amortization  of  deferred  income                                (3)                            (79)
          Change  in  assets,  liabilities  and
            others                                                                            (102)                      (3,089)
          Net  cash  provided  from  operating
            activities                                                                      601                        18,254

        Cash  flows  from  investing  activities:
          Proceeds  from  disposal  of
            available-for-sales  financial
            assets                                                                                28                              851
          Acquisition  of  financial  assets
            measured  at  cost                                                            (1)                            (37)
          Acquisition  of  long-term
            investments  accounted  for  the
            equity  method                                                                  (1)                            (27)
          Acquisition  of  property,  plant
            and  equipment                                                              (270)                      (8,173)
          Proceeds  from  disposal  of
            property,  plant  and  equipment                                    1                                28
          Acquisition  of  deferred  charges                              (16)                          (495)
          Decrease  in  other  assets  --  others                            0                                  2
          Net  cash  used  in  investing  activities                (259)                      (7,851)

        Cash  flows  from  financing  activities:
          Proceeds  from  short-term  Loans                                  15                              456
          Redemption  of  bonds                                                    (749)                    (22,717)
          Decrease  in  deposits-in                                                (0)                              (5)
          Net  cash  used  in  financing  activities                (734)                    (22,266)

        Effect  of  exchange  rate  changes  on
          cash  and  cash  equivalents                                            (5)                          (172)
        Decrease  in  cash  and  cash  equivalents                  (397)                    (12,035)

        Cash  and  cash  equivalents  at
          beginning  of  period                                                  1,235                        37,453

        Cash  and  cash  equivalents  at  end  of
          period                                                                                838                        25,418


        Note:  New  Taiwan  Dollars  have  been  translated  into  U.S.  Dollars  at  the
                    June  30,  2008  exchange  rate  of  NT$30.33  per  U.S.  Dollar.

                    All  figures  are  in  ROC  GAAP.



        Contacts:

          Bowen  Huang  or  I  Cheng  Lu
          UMC,  Investor  Relations
          Tel:      +886-2-2700-6999  ext.  6957
          Email:  bowen_huang@umc.com  or  i_cheng_lu@umc.com
 

Web site: http://www.umc.com/



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