Institute Summarizes Recent Amendments to the Taiwan Qualified Foreign Institutional Investor Program

Washington, DC, March 27, 1998 - Recent amendments to the program that governs foreign investment in the Taiwan securities markets include: (a) increased limits on any foreign investor's investment in any given Taiwanese issuer from 10 percent to 15 percent and the aggregate limit for all foreign investors from 25 percent to 30 percent and (b) a requirement that Qualified Foreign Institutional Investors report their offshore warrant issues linked with Taiwan equities. In accordance with the market opening agreement reached earlier this year, Taiwan is expected to remove all percentage limitations on foreign investment in listed stocks on or before January 1, 2001.