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AUO Reported Change of Its Board of Directors (2004.04.22)
Hsinchu, Taiwan

AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today reported a change of its Board of Directors and Supervisors. The three seats of Directors and one seat of Supervisors of AUO's Board, held by United Microelectronics Corporation ("UMC"), have been relieved automatically due to the recent conversion of part of the two exchangeable bonds into AUO shares held by UMC, issued by UMC in May 2002 and July 2003, respectively.

According to Article 197 of the Company Law of Republic of China, if the shareholding of a Board member in the Company falls below 50% of its original shareholding when elected as a Board member, it will automatically relinquish its Board membership.

The two exchangeable bonds issued by UMC in May 2002 and July 2003, are exchangeable at the option of the Bondholders into shares of AU Optronics Corp. held by UMC, subject to adjustment upon the occurrence of certain events, currently at exchange prices per Reference Share of NT$54.91 and NT$36.387, respectively. On April 22, 2004, the closing price of AU Optronics on the TAIEX was NT$72.50.

The term of the Current Board of Directors and Supervisors will expire on April 29, 2004. On April 29, 2004, AUO is holding its Annual General Shareholders’ Meeting, during which the shareholders will re-elect new members of the Board of Directors and Supervisors. As a result, the above-mentioned change in Board members is not expected to have significant impact on AUO.