Taiwan Greater China Fund Announces Appointment of Chief Executive Officer

NEW YORK, NY--(Marketwire - May 9, 2011) - The Taiwan Greater China Fund (NYSE: TFC) (the "Fund"), a diversified closed-end registered management investment company listed on the New York Stock Exchange, announced today that the Fund's Board of Trustees (the "Board") had appointed Frederick C. Copeland as the Chief Executive Officer of the Fund. Mr. Copeland also serves as the Chairman of the Fund. At the same time, the Fund's Board accepted the resignation of Steven R. Champion as President and Chief Executive Officer of the Fund. Mr. Champion will continue to serve as the portfolio manager of the Fund.

These changes were made in contemplation of the steps to be taken by the Fund as if shareholders approve the conversion of the Fund from a closed-end fund to an open-end fund. Open ending and related matters will be considered by the Fund's shareholders at the Annual Meeting of Shareholders scheduled for May 27, 2011.

The Taiwan Greater China Fund is listed and publicly traded in the United States. The Fund is organized for investment in securities of Taiwan issuers by non-Taiwan investors and currently follows an investment strategy of primarily investing in Taiwan listed companies that derive or expect to derive a significant portion of their revenues from operations in or exports to mainland China.