NEW YORK, Jan. 20 /PRNewswire-FirstCall/ -- The Taiwan Fund, Inc. (NYSE: TWN) 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's 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 an 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's net investment loss (consisting of dividend and interest income less operating expenses) for the same period was $899,426.

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



    CONTACT:
    Monique Labbe
    State Street Corporation
    617-662-2983






                                 Quarter Ended   Year Ended    Quarter Ended
                                 November 30,    August 31,    November 30,
                                      2009          2009             2008
                                --------------  -----------   --------------

          Total Net Assets        $287,292,332  $257,062,048  $181,488,549.26

      Gross Investment Income         $111,512    $8,536,455       $1,639,902
             Per Share                   $0.01                          $0.09

       Net Investment Income
               (Loss)                $(899,426)   $3,426,079         $477,982
             Per Share                  $(0.05)                         $0.03

    Net Realized Gain (Loss) on
             Investments           $13,467,872  $(81,913,015)    $(44,390,460)

      Change in Net Unrealized
     Gain (Loss) on Investments    $17,661,838   $46,832,774     $(66,476,452)
                                   -----------   -----------     ------------

         Total Realized and
     Unrealized Gain (Loss) on
             Investments
             Per Share             $31,129,710  $(35,080,241)   $(110,866,912)
                                         $1.68                         $(5.97)

    Net Increase (Decrease) in
     Net Assets Resulting from
             Operations
             Per Share             $30,230,284  $(31,654,162)   $(110,388,930)
                                         $1.63                         $(5.94)

SOURCE The Taiwan Fund, Inc.