The Taiwan Fund, Inc.

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TWN Announces a Reduction in Advisory Fees Paid to the Investment Manager October 30, 2018

CONTACT:
Brian F. Link, Secretary
877-217-9502
www.thetaiwanfund.com

New York, New York, October 30, 2018 – The Board of Directors of The Taiwan Fund, Inc. (the “Fund”) (NYSE: TWN), today announced that it has negotiated a reduction in advisory fees paid to JF International Management, Inc. (“JFIMI”), the investment manager of the Fund. JFIMI is currently paid a tiered advisory fee of 0.90% per annum of the value of the Fund’s average daily net assets up to and including $150 million of net assets; 0.80% per annum of the value of the Fund’s average daily net assets on the next $150 million of net assets; and 0.70% per annum of the value of the Fund’s average daily net assets in excess thereof.

Effective September 1, 2018, the Fund’s advisory fee was permanently reduced to 0.75% per annum of the value of the Fund’s average daily net assets for all assets.

The Fund is a diversified closed-end investment company, which seeks long term capital appreciation primarily through investments in equity securities listed on the Taiwan Stock Exchange. Shares of the Fund are listed on the New York Stock Exchange under the ticker symbol “TWN.”

For additional information on the Fund, including information on the Fund’s holdings, visit the Fund’s website at www.thetaiwanfund.com or call 1-877-217-9502.

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