SOURCE: Taiwan Greater China Fund

July 09, 2008 15:50 ET

Taiwan Greater China Fund Provides Clarification on Semi-Annual Repurchase

NEW YORK, NY--(Marketwire - July 9, 2008) - The Taiwan Greater China Fund (NYSE: TFC), a diversified closed-end registered investment company listed on the New York Stock Exchange (the "Fund"), provided clarification today with respect to its semi-annual repurchase offer that expired on June 13, 2008. As previously announced, the Fund repurchased approximately 7.7% of the shares submitted by shareholders in the repurchase offer. Included among the shares repurchased were all shares submitted by or on behalf of shareholders that indicated that they were holding less than 100 shares of the Fund ("odd lot holders"). Because of the large number of shares submitted by odd lot holders in connection with repurchase offer, the shares repurchased from other shareholders represented approximately 6.4% of the shares submitted by those shareholders in the repurchase offer.

The Fund plans to review its policy of repurchasing all shares submitted by odd lot holders with respect to its future semi annual repurchase offers.

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 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.

This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Fund's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, the risks and uncertainties described in the Fund's filings with the U. S. Securities and Exchange Commission. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Fund undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Fund or any other person that the events or circumstances described in such statement are material.

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