Central Bank of China

PRESS RELEASE Release Date: June 11, 2002




--------------------------------------------------------------------------------

RETIRING THE OLD NEW TAIWAN DOLLAR BANKNOTES &COINS

To announce the retirement of the old New Taiwan Dollar banknotes & coins as follows:

1. All the old banknotes issued by the Bank of Taiwan (except for 50th anniversary commemorative issuance of NT$50), will remain in circulation until 30th June 2002.

2. The old coins: (1) NT$50 coins minted in 1992 and 1993 will remain in circulation until 30th June 2002. (2) NT$50 coins minted between 1996 and 2001 will remain in circulation until 30th June 2004.

3. After the expiration of validity period, the above-mentioned old notes and coins can still be exchanged at all branches of the Bank of Taiwan.

The above-mentioned old notes and coins can be exchanged between July 1, 2002 and December 31, 2002 at any of the nation's banks, post offices, cooperative banks and farmer's cooperation banks.