NEW YORK, NY, Jul 30, 2010 (MARKETWIRE via COMTEX News Network) -- Taiwan Greater China Fund (NYSE: TFC) ("TFC" or "the Fund"), a closed-end fund, has announced that, due to the increasing economic integration of Taiwan and mainland China, it will change its primary benchmark to the MSCI Taiwan Index effective immediately. The MSCI Taiwan Index is an industry standard that reflects the overall Taiwan stock market and the Fund will use this standard to evaluate its investment performance going forward.

The Fund previously used the Taiwan China Strategy index as its primary benchmark, but changes, such as the recently signed Economic Cooperation Framework Agreement between China and Taiwan, have greatly expanded the opportunities for cross-straight trade and investment and have made the MSCI Taiwan Index a more appropriate measurement.

Since 2003, the Fund's investment strategy has been to capitalize on growth in China through investments in Taiwan Stock Exchange-traded companies, which derive or are expected to derive a substantial portion of their revenues from exports to or operations in mainland China. The Fund's strategy reflects the belief that Taiwan-related companies conducting business in China offer a uniquely attractive and risk-moderated way to invest in China's economic growth.

David Laux, a Trustee of the Fund since 1992 and former Chairman of the American Institute in Taiwan, noted, "The recent improvement in diplomatic relations between Taiwan and China has only served to underscore the vibrant economic link that already exists between these two nations. Taiwan companies play a prominent role in the Chinese economy, due in large part to the unique understanding the Taiwanese possess of the Chinese business culture, language, and the challenges associated with being an emerging market economy. Taiwan businesses have enjoyed a material advantage over other foreign businesses in benefiting from Chinese growth."

The Taiwan Greater China Fund is listed and publicly traded in the United States. The Fund is organized for investment in securities of Taiwan issuers by non-Taiwan investors and follows an investment strategy of primarily investing in Taiwan listed companies that derive or expect to derive a significant portion of their revenues from operations in or exports to mainland China.

This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Fund's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, the risks and uncertainties described in the Fund's filings with the U.S. Securities and Exchange Commission. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Fund undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Fund or any other person that the events or circumstances described in such statement are material.

Contacts:

Patricia Baronowski
The Altman Group
Investor Relations and Communications
1-800-343-9567
Website: http://www.taiwangreaterchinafund.com

SOURCE: The Taiwan Greater China Fund

http://www.taiwangreaterchinafund.com

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