<DOCUMENT>
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                                                                         Item 1


Advanced Semiconductor Engineering, Inc.                                 [Logo]


FOR IMMEDIATE RELEASE

<TABLE>
Contact:

<S>                                              <C>                             <C>
ASE, Inc.                                        Thomson Financial/Carson
Joseph Tung, CFO                                 Judith Walls                    Daniel Loh
Freddie Liu, Assistant Vice President            Associate Director              Associate Director
Tel: + 886-2-8780-5489                           + 65-3940 870                   + 1-212-701-1998
Fax: + 886-2-2757-6121                           + 1-212-701-1998                dan.loh@tfn.com
Investor relations@asek.asetwn.com.tw            judith.walls@tfn.com.sg         ---------------
-------------------------------------            -----------------------
</TABLE>


           ADVANCED SEMICONDUCTOR ENGINEERING, INC. REPORTS YEAR 2000
                FOURTH-QUARTER AND FULL-YEAR FINANCIAL RESULTS


Taipei, Taiwan, R.O.C., February 22, 2001 - Advanced Semiconductor Engineering,
Inc. (TAIEX: 2311, NYSE: ASX), ("ASE", or the "Company"), one of the world's
largest independent providers of semiconductor packaging and testing services,
today reported quarterly sales of NT$13,393 million and quarterly earnings of
NT$1,530 million in the fourth quarter ended December 31, 2000. Fully diluted
earnings per share for the quarter were NT$0.55, or US$0.086 per ADS.

For the full year 2000, net revenues reached a record NT$50,894 million, and
net income amounted to NT$6,073 million. Based on 2,677.6 million weighted
average shares outstanding, fully diluted earnings per share were NT$2.22, or
US$0.357 per ADS.

"The year 2000 was a tremendous year for us," said Mr. Jason Chang, chairman of
ASE Inc. "Our revenues totaled a record NT$50,894 million, and our gross margin
improved to 30%, a historical high. Our effort in strengthening our technical
capability and widening our services scope began to materialize and thus we
were able to capitalize on the industry strong growth. Meanwhile, our
well-balanced exposure in all 3C areas - communications, computers, and
consumer applications -- enabled us to better meet customer's need. More
importantly, we are much less affected by down-turns in a single end market."

Mr. Chang added, "The year 2001 will be more challenging, but we are confident
that we will still be able to grow our business given the solid foundation we
have built up in the last few years. In our experience, the current soft
industry environment should accelerate outsourcing as customers will need to
reallocate their resources to their key competencies. We expect that the
industry will go through another round of consolidation, and that ASE's leading
position should make it one of the biggest beneficiaries of this trend."

"Not only did we achieve record revenues in 2000, we also made significant
progress in strengthening our overall capabilities." commented Dr. Leonard Liu,
president of ASE. "We have successfully integrated our newly acquired entities,
and we have positioned these operations globally to maximize our economy of
scale. We have also invested heavily in advanced package, critical package
material and test processes and technologies, improved our information
technology infrastructure and service quality, and strengthened our sales
organization in the U.S. and Europe. Therefore, we are uniquely positioned to
provide the most complete services in the key semiconductor clusters, which is
our strongest competitive advantage compared with our competitors."

"We view the current business environment as an opportunity to further build up
our organization infrastructure and improve our cost structure," Dr. Liu
indicated. "With our continuing focus on improving our capabilities and serving
our customers' needs, coupled with the expected acceleration in outsourcing, we
expect to emerge from this industry softness as a much stronger player."


                                       1
<PAGE>


Advanced Semiconductor Engineering, Inc.                                 [Logo]


Financial Results

Fourth-Quarter 2000 Results: Year-over-Year Comparison

o Net revenues increased 18% to NT$13,393 million.
o Gross profit rose 25% to NT$3,881 million.
o Operating income increased 19% to NT$2,431 million.
o Excluding NT$1,389 million of capital gains realized in Q4 1999, net income
  rose 14% to NT$1,530 million.
o Fully diluted earnings per share declined 46% to NT$0.55, or US$0.086 per ADS.
  Excluding one-time capital gains recorded in Q4 1999, EPS grew 12% YoY.


Net Revenues:
Consolidated net revenues totaled NT$13,393 million in the fourth quarter of
2000, up 18% from NT$11,311 million in the same period in 1999. Assembly
revenues increased 17% to NT$9,844 million, and testing revenues increased 25%
to NT$3,540 million. Stronger quarterly revenues in Q4 2000 reflected increased
sales activity in each of the Company's operating regions and increased volume
output.

Gross Profit:
Gross profit increased 25% YoY to NT$3,881 million. Gross margin also improved
to 29.0% from 27.5% in the same period of 1999, reflecting higher machine
utilization and higher revenue contribution from our testing operations, which
generally maintain a higher gross margin than our assembly operations.
Depreciation expense during the quarter totaled NT$2,352 million, which
represented a 38% increase from the same period last year. Depreciation expense
as a percentage of net revenues rose from 15.1% in Q4 1999 to 17.6% in Q4 2000
due to the capacity expansion achieved during the year 2000.

Operating Expenses/Income:
Operating expenses increased 36% YoY to NT$1,450 million. Of the total,
research and development ("R&D") spending increased 145% to NT$370 million, or
2.8% of net revenues versus 1.3% for the same period last year. Increased R&D
expenses were attributable to our investment in the research of advanced
packaging technologies and increased R&D headcount. Selling, general and
administrative expenses during the quarter increased 18% from the year-ago
period to NT$1,080 million, but remained unchanged at 8.1% as a percentage of
net revenues. Total operating expenses as a percentage of revenues rose to
10.8% in Q4 2000 from 9.4% in Q4 1999. Goodwill amortization expense relating
to the acquisition of consolidated entities (including ASE Chung Li, ASE Korea
and ISE Labs) amounted to NT$157 million in the latest quarter.

Operating income rose 19% YoY to NT$2,431 million. Operating margin, meanwhile,
edged up to 18.2% in the latest quarter from 18.1% in the same period last
year.

Non-operating Expenses:
Total non-operating expenses of NT$155 million in the fourth quarter of 2000,
compared with a non-operating profit of NT$1,316 million in the fourth quarter
of 1999. The difference was mainly due to a one-time capital gain of NT$1,389
million recorded by the Company's subsidiaries and affiliates in connection
with the Company's GDR re-issuance program done.

Net interest expense increased 60% to NT$356 million during the latest quarter
from NT$223 million in Q4 1999 as a result of increased leverage in 2000.
Investment income for the quarter was NT$42 million versus NT$245 million for
the same period last year, also as a result of the one-time capital gain from
GDR re-issuance recognized by Hung Ching Construction in Q4 last year. Goodwill
amortization expenses for non-consolidated entities totaled NT$94 million
during the quarter.

Net income:
Income tax expense of NT$231 million in Q4 2000 represents an effective tax
rate of 10.2%.


                                       2
<PAGE>


Advanced Semiconductor Engineering, Inc.                                 [Logo]


Minority interest expense totaled NT$514 million in the quarter.

Net income for the fourth quarter 2000 reached NT$1,530 million, a decline of
44% compared with the same period last year. Excluding the capital gains of
NT$1,389 million recorded in the fourth quarter last year, net income increased
14%.

Fully diluted earnings per share were NT$0.55 in Q4 2000, versus NT$1.01 (or
NT$0.49 net of capital gain) in Q4 1999. Fully diluted earnings per ADS were
US$0.086 versus US$0.159 (or US$0.077, net of capital gain) in the fourth
quarter last year.

Shares Outstanding:
Retroactively adjusted for the company's 1999 stock dividend, A weighted
average total of 2,678 million ASE common shares were used to calculate per
share data for the 4Q 2000 versus 2,652 million Common shares for the same
period 1999. Each ADS represents 5 common shares.

Capital Expenditures:
Capital spending in Q4 2000 totaled US$203 million, of which US$86 million is
for building construction and improvement, and US$117 million is for
manufacturing equipment. Capital expenditures breaks down by operation is as
follows: US$64 million is related to assembly operations, US$107 million is to
testing operations and US$32 million is to material manufacturing operation.

Fourth-Quarter 2000 Results: Sequential Comparison

o     Net revenues declined 4% sequentially.
o     Gross profit decreased 5%.
o     Operating income decreased 11%.
o     Net income dropped 6%.

Net Revenues:
Net revenues in Q4 2000 declined 4% from the prior quarter. Assembly revenues
decreased 6% to NT$9,844 million, whereas testing revenues increased 3% to
NT$3,540 million. Assembly unit output (in terms of pin counts) declined 6% to
59.4 billion pins, and average selling price ("ASP") per pin dropped 2.3%
sequentially. The lower unit output is attributable to the industry slowdown
across the board.

Gross Profit:
Gross profit in Q4 2000 decreased 5% on a sequential basis. Gross margin,
meanwhile, declined slightly by 0.3% to 29.0%. Due to the higher revenue
contribution from our test operation, and our effort in reducing the
manufacturing cost, the margin declined relatively less than the revenue
decrease.

Operating Expenses / Income:
Operating expenses increased 8% to NT$1,450 million, mainly due to increased
R&D expenses and to amortization expenses related to write-off covenants of ISE
Labs, Inc. As a percentage of net revenues, operating expenses increased by
1.2% sequentially to 10.9%. Operating income declined 11% sequentially, and
operating margin dropped 1.5% from 19.7% in the previous quarter to 18.2% for
Q4 2000.

Non-operating Expenses:
Non-operating expenses improved by 58% to NT$155 million, or 1.2% of net
revenues versus 2.7% for the previous quarter. The improvement is mainly due to
the a foreign exchange gain of NT$170 million booked during the quarter on the
depreciation of the NT dollar.

Net income:
Income before tax declined 4% sequentially to NT$2,276 million. Minority
interests rose to NT$514 million, up 22% sequentially, reflecting reduced
ownership in ASE Test Limited after its secondary public offering in Q3 1999
and a higher earnings contribution from our consolidated


                                       3
<PAGE>


Advanced Semiconductor Engineering, Inc.                                 [Logo]


entities, especially from ASE Material. Net income decreased 6% compared with
the third quarter of this year. Fully diluted earnings per share declined from
NT$0.59 to NT$0.55 sequentially.

Full Year Comparison

o Net revenues rose 56% to NT$50,894 million.
o Gross profit increased 77% to NT$15,279 million.
o Operating profit increased 104% to NT$9,900 million.
o Net income dropped 22%, but grew 170% after netting out the one-time capital
  gains realized in 1999.
o Fully diluted earnings per share decreased 24% to NT$2.22, or US$0.357 per
  ADS. Netting out the one-time capital gains, fully diluted earnings per share
  in 1999 were NT$0.81, or US$0.127 per ADS.

Net Revenues:
Net revenues for the year 2000 totaled NT$50,894 million, an increase of 56%
versus 1999. Assembly revenues grew 55% to NT$38,029 million, and testing
revenues increased 64% to NT$12,769 million.

Gross Profit:
Gross profit rose 77% to NT$15,279 million in the year 2000 from NT$8,650
million in 1999. Gross margin also improved to 30.0% from 26.5%. The improved
gross margin reflected a higher revenue contribution from our test operation
and declining raw material costs. Depreciation expense for the year was
NT$8,055 million versus NT$5,326 million in 1999. As a percentage of net
revenues, depreciation expense declined to 15.8% in 2000 from 16.3% in 1999,
reflecting a higher capacity utilization rate.

Operating Income:
Operating income also increased sharply during the period, rising 104% to
NT$9,900 million from NT$4,849 million. Operating margin, meanwhile, increased
to 20% from 15%. R&D expenses in year 2000 were NT$1,223 million, or 2.4% of
net revenues. Selling, general and administrative expenses were NT$4,156
million, or 8.2% of net revenues, representing an improvement of 1.3% compared
with 1999.

Net Non-operating Income/Loss:
A net non-operating loss of NT$1,235 million in year 2000 compares with net
non-operating income of NT$4,214 million in 1999. The difference is due to
one-time capital gains of NT$5,544 million in connection with the secondary
offering of ASE Test Limited's Taiwan Depositary Receipt (TDR) and the
re-issuance of ASE Inc.'s GDR by our subsidiaries and affiliates.

Net Income:
Net income in year 2000 declined 22% to NT$6,073million from NT$7,795 million
in 1999. Excluding the one-time capital gain of NT$5,544 million in 1999, net
income grew 170% on a full-year basis.

Fully diluted earnings per share for the full year 2000 totaled NT$2.22, or
US$0.357 per ADS, versus NT$0.81 and US$0.127 for the same period of 1999
(excluding one-time capital gains).

Capital Expenditures:
For the full year 2000, total capital expenditures were US$966 million, of
which US$149 million is related to building and improvement and US$817 million
is to manufacturing equipment. CapEx by operation breakdown was US$399 million
to assembly operations, US$488 million was to our testing operations and US$79
million to material operations.

About ASE Inc.
--------------
ASE Inc. is one of the world's largest independent providers of semiconductor
packaging


                                       4
<PAGE>


Advanced Semiconductor Engineering, Inc.                                 [Logo]


services and, together with its subsidiary ASE Test Limited (Nasdaq:ASTSF), one
of the world's largest independent providers of semiconductor testing services,
including front-end engineering testing, wafer probing and final testing
services. The Company's international customer base of more than 200 blue-chip
customers includes such leading names as Advanced Micro Devices, Inc., Altera
Corporation, Cirrus Logic International Ltd., Conexant Systems, Inc., LSI Logic
Corporation, and Qualcomm Incorporated. With advanced-process technological
capabilities and a global presence spanning Taiwan, Korea, Hong Kong,
Singapore, Malaysia and the United States, ASE Inc. has established a
reputation for reliable, high quality products and services. For more
information, visit the website, http://www.aseglobal.com


Safe Harbor Notice

This press release contains " forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995, including statements
regarding our future revenues, earnings, and other results of operations. Our
actual results may differ materially from the results discussed in these
forward looking statements for a variety of reasons, including risks associated
with cyclicality and market conditions in the semiconductor industry, demand
for the outsourced semiconductor assembly and testing services we offer and for
such outsourced services generally, our ability to maintain a high capacity
utilization rate relative to our fixed costs, competition in our industry, and
other reasons. For a discussion of these and other factors which may cause our
results to differ materially from our forward-looking statements, please read
the discussion of these risks in the documents we filed from time to time with
Securities and Exchange Commission, including our Prospectus on Form F1 and F4
filed Sept. 27, 2000 and our Current Reports on Form 6-K filed Dec. 27 and Oct.
30, 2000.


                                       5
<PAGE>


                       Supplemental Financial Information

Assembly Operations
----------------------------------------------------------------------------
Amounts in NT$ Millions             4Q/00        4Q/99        3Q/00
----------------------------------------------------------------------------
Net Revenue                         9,844        8,390       10,459
End Application by Revenue
Communication                         38%          38%          38%
Computer                              25%          43%          27%
Automotive and Consumers              36%          16%          33%
Others                                 1%           3%           2%
Package Type by Revenue
BGA                                   43%          39%          46%
QFP                                   35%          35%          32%
PDIP, PLCC, Sos                       15%          18%          16%
Others                                 7%           8%           6%
Capacity
CapEx (US$ Millions)                   64           84          135
Number of Wirebonders               3,973        2,810        3,968


Testing Operations
----------------------------------------------------------------------------
Amounts in NT$ Millions             4Q/00        4Q/99        3Q/00
----------------------------------------------------------------------------
Net Revenue                         3,540        2,838        3,440
End Application by Revenue
Communication                         28%          36%          28%
Computer                              23%          26%          34%
Automotive and Consumers              43%          29%          32%
Others                                 6%           9%           6%
Testing Type by Revenue
Logic and Mixed Signal                97%          98%          97%
Memory                                 3%           2%           3%
Capacity
CapEx (US$ Millions)                  107           80          140
Number of Testers                   1,029          726          972


                                       6
<PAGE>


                    Advanced Semiconductor Engineering, Inc.
                  Consolidated Summary Income Statements Data
                    (In NT$ millions, except per share data)
                                  (Unaudited)

<TABLE>
                                           For the three months ended         For the twelve months ended
                                         ===============================    ================================
                                               Dec. 31         Dec. 31         Dec. 31         Dec. 31
                                                2000            1999            2000            1999
Net revenues:
<S>                                          <C>            <C>             <C>             <C>
  Assembly                                          9,844           8,390          38,029          24,523
  Testing                                           3,540           2,838          12,769           7,793
  Others                                                9              83              96             294
                                            --------------  --------------  --------------  --------------
Total net revenues                                 13,393          11,311          50,894          32,610
                                            --------------  --------------  --------------  --------------

Cost of revenues                                    9,512           8,201          35,615          23,960
                                            --------------  --------------  --------------  --------------
Gross Profit                                        3,881           3,110          15,279           8,650
                                            --------------  --------------  --------------  --------------

Operating expenses:
  Research and development                            370             151           1,223             714
  Selling, general and administrative               1,080             913           4,156           3,087
                                            --------------  --------------  --------------  --------------
  Total operating expenses                          1,450           1,064           5,379           3,801
                                            --------------  --------------  --------------  --------------
Operating income                                    2,431           2,046           9,900           4,849
                                            --------------  --------------  --------------  --------------

Other (income) expenses:
  Interest expenses, net                              356             222           1,531           1,047
  Foreign currency loss (gain), net                 (170)             130           (320)             538
  Loss (gain) on long-term investment                  52           (158)             176            (51)
  One-time capital gain                                 0         (1,389)               0         (5,544)
  Loss (gain) on dispose of assets                     12            (21)              51            (17)
  Other non-operating expenses                       (95)            (99)           (203)           (186)
                                            --------------  --------------  --------------  --------------
  Total non-operating expenses                        155         (1,315)           1,235         (4,213)
                                            --------------  --------------  --------------  --------------
Income before income tax                            2,276           3,361           8,665           9,062
                                            --------------  --------------  --------------  --------------

Income tax expense (credit)                           232             266           1,050             459
                                            --------------  --------------  --------------  --------------
Net income before minority interest                 2,044           3,095           7,615           8,603
                                            --------------  --------------  --------------  --------------

Minority interest                                     514             362           1,542             808
Net income                                          1,530           2,733           6,073           7,795
Net income - net of one-time capital gain           1,530           1,344           6,073           2,251

Per share data:
                                EPS - Basic       NT$0.57         NT$1.03         NT$2.27         NT$2.94
                        EPS - Fully Diluted       NT$0.55         NT$1.01         NT$2.22         NT$2.91
      EPS (net of one-time capital gain)  -       NT$0.55         NT$0.49         NT$2.22         NT$0.81
                              Fully Diluted

                   Earnings per ADS - Basic      US$0.089        US$0.162        US$0.365        US$0.458
           Earnings per ADS - Fully Diluted      US$0.086        US$0.159        US$0.357        US$0.453
    Earnings per ADS, net of capital gain -      US$0.086        US$0.077        US$0.357        US$0.127
                              Fully diluted

Number of weighted  average  shares used in     2,677,603       2,651,524       2,677,603       2,651,524
the   EPS    calculation   (in   thousands,
retroactively adjusted for stock dividend)

Forex (NT$ per US$1)                                32.17           31.73           31.10           32.10
</TABLE>


                                       7
<PAGE>


                    Advanced Semiconductor Engineering, Inc.
                    Consolidated Summary Balance Sheet Data
                               (In NT$ millions)
                                  (Unaudited)

                                                     As of           As of
                                                  Dec. 31, 2000  Dec. 31, 1999
                                                  =============  =============
Current assets:
  Cash and cash equivalents                            12,839       11,809
  Short-term investments                                1,739          216
  Notes and accounts receivable                         9,451        7,463
  Inventories                                           3,257        2,450
  Others                                                2,208        1,412
                                                    ---------    ----------
  Total                                                29,494       23,350

Long-term investments                                  12,545        9,674
Properties - net                                       60,485       38,108
Other assets                                            6,281        6,199
                                                    ---------    ----------
Total assets                                          108,805       77,331
                                                    ---------    ----------

Current liabilities:
  Short-term debts                                     14,702        9,868
  Notes and accounts payable                            4,053        3,152
  Others                                                8,063        4,616
                                                    ---------    ----------
  Total                                                26,818       17,636

Long-term debts                                        25,071       24,552
Other liabilities                                         892          196
                                                    ---------    ----------
Total liabilities                                      52,781       42,384

Minority interest                                      12,126        4,890

Shareholders' equity                                   43,898       30,057
                                                    ---------    ----------
Total liabilities & shareholders' equity              108,805       77,331
                                                    ---------    ----------


                                       8
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