Taiwan Stock Exchange and Philadelphia Stock Exchange Sign MOU

Business Wire, May 6, 2008

NEW YORK -- Taiwan Stock Exchange Corporation (TSEC) and the Philadelphia Stock Exchange Inc (PHLX) signed a Memorandum of Understanding (MOU) today on information sharing and cooperation.

The MOU, was signed by Dr. Rong-I Wu, Chairman of the TSEC, and Mr. Meyer S. Frucher, Chairman and CEO of the PHLX. By cooperating on information sharing with the first organized exchange in the U.S., the TSEC is taking a "First step" on promoting the technology sector in Taiwan to U.S. index traders.

The MOU also reflects the significant interest and demand from U.S. traders on Taiwan technology stocks.

Dr. Wu, Chairman of TSEC commented:

"Taiwan technology companies are entrenched as part of the global IT value chain. Many popular consumer electronics products such as iphone, ipod, X-box, etc are produced by Taiwanese companies. U.S. index traders are beginning to see the value of technology play in Taiwan. For the benefit of the index trading community, Taiwan Stock Exchange has made significant reforms and marked improvements in its trading environment. This MOU with the Philadelphia Stock Exchange, the first organized exchange in the U.S., may be a step in stimulating the development of new financial instruments for both exchanges."

The Taiwan bourse is one of the best performing stock markets in Asia despite the U.S. sub-prime crisis. Its benchmark TAIEX posted positive gains during the first quarter of 2008. Taiwan is also the leading gateway to capture growth opportunities in China and other emerging economies in South East Asia. Taiwanese businesses are amongst the biggest overseas investors in China, Vietnam, Thailand and Malaysia economies.

Mr. Meyer S. Frucher, Chairman and CEO of the PHLX commented:

"We are very pleased to have established collaboration with the Taiwan Stock Exchange. The MOU creates a strong foundation to foster closer ties and cooperation between our two exchanges."

About Taiwan Stock Exchange Corporation

Founded in 1961, TSEC works with the Financial Supervisory Commission (FSC) to regulate Taiwan's stock market, enhance market transparency and improve market infrastructure. It currently offers trading markets for stocks, warrants, Exchange-Traded Funds (ETFs), Taiwan Depository Receipts (TDRs) and corporate bonds.

About Philadelphia Stock Exchange

The Philadelphia Stock Exchange was founded in 1790. The PHLX trades more than 7,000 stocks, 2,639 equity options, 16 sectors index options, options on all major currencies, and futures through its subsidiary, The Philadelphia Board of Trade (PBOT). For more information about the PHLX and its products, visit www.phlx.com.