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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000950103-04-000146.txt : 20040203
<SEC-HEADER>0000950103-04-000146.hdr.sgml : 20040203
<ACCEPTANCE-DATETIME>20040203115452
ACCESSION NUMBER:		0000950103-04-000146
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20040202
FILED AS OF DATE:		20040203

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ADVANCED SEMICONDUCTOR ENGINEERING INC
		CENTRAL INDEX KEY:			0001122411
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16125
		FILM NUMBER:		04561580

	BUSINESS ADDRESS:	
		STREET 1:		26 CHIN THIRD ROAD
		STREET 2:		NANTZE EXPORT PROCESSING ZONE
		CITY:			KAOHSIUNG TAIWAN
		STATE:			F5
		ZIP:			00000

	MAIL ADDRESS:	
		STREET 1:		26 CHIN THIRD ROAD
		STREET 2:		NANTZE EXPORT PROCESSING ZONE
		CITY:			KAOHSIUNG TAIWAN
		STATE:			F5
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>feb0204_ase6k.htm
<TEXT>
<HTML>
<HEAD>
<TITLE>
</TITLE>
</HEAD>
<body leftmargin="50p" marginwidth="50p">
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="4"><B>FORM
  6-K<BR>
  SECURITIES AND EXCHANGE COMMISSION<BR>
  <FONT SIZE="2">Washington, D.C. 20549</FONT></B></FONT></FONT> </P>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Report
  of Foreign Private Issuer</B></FONT></P>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Pursuant
  to Rule 13a-16 or 15d-16<BR>
  of the Securities Exchange Act of 1934</B></FONT></P>
<!-- MARKER FORMAT-SHEET="Part 2" -->
<blockquote>
  <blockquote>
    <blockquote>
      <p align="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">For
        the month of &nbsp;February, 2004</FONT></p>
      <p align="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Commission
        File Number:&nbsp;&nbsp;&nbsp;&nbsp;001-16125 </FONT></p>
    </blockquote>
  </blockquote>
</blockquote>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><B>Advanced
  Semiconductor Engineering, Inc.</B><BR>
  <FONT SIZE="2">(Exact name of Registrant as specified in its charter)
  </FONT></FONT></P>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
  26 Chin Third Road<BR>
  Nantze Export Processing Zone<BR>
  Kaoshiung, Taiwan<BR>
  Republic of China <BR>
  (Address of principal executive offices) </FONT></P>
<!-- MARKER FORMAT-SHEET="Flush" -->
<blockquote>
  <blockquote>
    <blockquote>
      <p align="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Indicate
        by check mark whether the registrant files or will file annual
        reports under cover Form 20-F or Form 40-F.</FONT> </p>
    </blockquote>
  </blockquote>
</blockquote>
<!-- MARKER FORMAT-SHEET="Form 20-F" -->
<TABLE WIDTH="100%" CELLPADDING=0 CELLSPACING=0 BORDER=0>
  <TR>
    <TD WIDTH="40%" ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Form
      20-F&nbsp;&nbsp;<U>&nbsp;&nbsp;X&nbsp;&nbsp;</U></FONT></TD>
    <TD WIDTH="20%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
    <TD WIDTH="40%" ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Form
      40-F&nbsp;&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
  </TR>
</TABLE>
<BR>
<!-- MARKER FORMAT-SHEET="Flush" -->
<blockquote>
  <blockquote>
    <blockquote>
      <p align="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Indicate
        by check mark if the registrant is submitting the Form 6-K
        in paper as permitted by Regulation S-T Rule 101(b)(1): ______</FONT>
      </p>
    </blockquote>
  </blockquote>
</blockquote>
<!-- MARKER FORMAT-SHEET="Flush" -->
<blockquote>
  <blockquote>
    <blockquote>
      <p align="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Note:</B>
        Regulation S-T Rule 101(b)(1) only permits the submission in
        paper of a Form 6-K if submitted solely to provide an attached
        annual report to security holders.</FONT> </p>
    </blockquote>
  </blockquote>
</blockquote>
<!-- MARKER FORMAT-SHEET="Flush" -->
<blockquote>
  <blockquote>
    <blockquote>
      <p align="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Indicate
        by check mark if the registrant is submitting the Form 6-K
        in paper as permitted by Regulation S-T Rule 101(b)(7): ______</FONT>
      </p>
    </blockquote>
  </blockquote>
</blockquote>
<!-- MARKER FORMAT-SHEET="Flush" -->
<blockquote>
  <blockquote>
    <blockquote>
      <p align="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Note:</B>
        Regulation S-T Rule 101(b)(7) only permits the submission in
        paper of a Form 6-K if submitted to furnish a report or other
        document that the registrant foreign private issuer must furnish
        and make public under the laws of the jurisdiction in which
        the registrant is incorporated, domiciled or legally organized
        (the registrant&#146;s &#147;home country&#148;), or under
        the rules of the home country exchange on which the registrant&#146;s
        securities are traded, as long as the report or other document
        is not a press release, is not required to be and has not been
        distributed to the registrant&#146;s security holders, and,
        if discussing a material event, has already been the subject
        of a Form 6-K submission or other Commission filing on EDGAR.</FONT>
      </p>
    </blockquote>
  </blockquote>
</blockquote>
<!-- MARKER FORMAT-SHEET="Flush" -->
<blockquote>
  <blockquote>
    <blockquote>
      <p align="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Indicate
        by check mark whether by furnishing the information contained
        in this Form, the registrant is also thereby furnishing the
        information to the Commission pursuant to Rule 12g3-2(b) under
        the Securities Exchange Act of 1934.</FONT> </p>
    </blockquote>
  </blockquote>
</blockquote>
<!-- MARKER FORMAT-SHEET="No" -->
<TABLE WIDTH="100%" CELLPADDING=0 CELLSPACING=0 BORDER=0>
  <TR>
    <TD WIDTH="40%" ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Yes&nbsp;&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
    <TD WIDTH="20%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
    <TD WIDTH="40%" ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">No&nbsp;&nbsp;<U>&nbsp;&nbsp;X&nbsp;&nbsp;</U></FONT></TD>
  </TR>
</TABLE>
<BR>
<!-- MARKER FORMAT-SHEET="Flush" -->
<blockquote>
  <blockquote>
    <blockquote>
      <p align="LEFT"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">If
        &#147;Yes&#148; is marked, indicate below the file number assigned
        to the registrant in connection with Rule 12g3-2(b): 82- <U><BR>
               Not applicable</U></FONT></FONT> </p>
    </blockquote>
  </blockquote>
</blockquote>
<br>
<br>
<hr size=3 color=GRAY noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE="sheet: 1; page: 1" -->
<br>
<br>
<!-- MARKER FORMAT-SHEET="Center Bold" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Signatures
  </B></FONT></P>
<!-- MARKER FORMAT-SHEET="Flush" -->
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Pursuant
  to the requirements of the Securities Exchange Act of 1934, the registrant
  has duly caused this report to be signed on its behalf by the undersigned,
  thereunto duly authorized.</FONT> </P>
<!-- MARKER FORMAT-SHEET="Company Name Bold" -->
<TABLE WIDTH="100%" CELLPADDING=0 CELLSPACING=0 BORDER=0>
  <TR VALIGN=TOP>
    <TD WIDTH="60%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
    <TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>ADVANCED
      SEMICONDUCTOR<BR>
      ENGINEERING, INC. </B></FONT></TD>
  </TR>
</TABLE>
<BR>
<BR>
<!-- MARKER FORMAT-SHEET="Signature (With By:)" -->
<TABLE WIDTH="100%" CELLPADDING=0 CELLSPACING=0 BORDER=0>
  <TR VALIGN=TOP>
    <TD WIDTH="59%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Date:
      February 2, 2004</FONT></TD>
    <TD WIDTH="7%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By:
      </FONT></TD>
    <TD WIDTH="34%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
      /s/ Joseph Tung &nbsp;</FONT>
      <HR ALIGN=LEFT SIZE="1" WIDTH="70%" NOSHADE></TD>
  </TR>
</TABLE>
<!-- MARKER FORMAT-SHEET="Name & Title (Without By:)" -->
<TABLE WIDTH="100%" CELLPADDING=0 CELLSPACING=0 BORDER=0>
  <TR VALIGN=TOP>
    <TD WIDTH="59%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
    <TD WIDTH="7%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Name:<BR>
      Title:</FONT></TD>
    <TD WIDTH="34%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Joseph
      Tung<BR>
      Chief Financial Officer </FONT></TD>
  </TR>
</TABLE>
<br>
<br>
<hr size=3 color=GRAY noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE="sheet: 1; page: 1" -->
<br>
<DIV ALIGN=RIGHT><FONT size="2" face="Arial, Helvetica, sans-serif"><b>ITEM 1</b></FONT></DIV>
<br>
<P align="left"> <font face="Arial, Helvetica, sans-serif"><A name="page_1"></A> </font> </P>
<P>&nbsp; </P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td><font face="Arial, Helvetica, sans-serif"><b>Advanced Semiconductor Engineering, Inc.</b> </font></td>
    <td><div align="right"><font face="Arial, Helvetica, sans-serif"><img src="feb0204_logo.gif" width="81" height="71"></font></div></td>
  </tr>
</table>
<P><font face="Arial, Helvetica, sans-serif"><B><I><FONT size=2>FOR IMMEDIATE RELEASE </FONT></I></B></font></P>
<P> <font face="Arial, Helvetica, sans-serif"><B><FONT size=2>Contact:</FONT></B></font></P>
<table width="100%"  border="0" cellspacing="3" cellpadding="0">
  <tr>
    <td width="50%" align="left" valign="top"><font face="Arial, Helvetica, sans-serif"><b><font size=2>ASE, Inc. </font></b></font></td>
    <td width="50%" align="left"> <font face="Arial, Helvetica, sans-serif"><b><font size=2>Joseph Tung</font></b><font size=2>, CFO / Vice President <b><br>
      Freddie Liu</b>, Financial Controller </font></font> </td>
  </tr>
  <tr>
    <td align="left"> <font size=2 face="Arial, Helvetica, sans-serif">Room 1901, No. 333, Section 1 <br>
      Keelung Road, Taipei, Taiwan, 110</font> </td>
    <td align="left" valign="bottom"><P><FONT size=2 face="Arial, Helvetica, sans-serif">ir@aseglobal.com</FONT></P></td>
  </tr>
  <tr valign="bottom">
    <td align="left"><font size=2 face="Arial, Helvetica, sans-serif">Tel: + 886.2.8780.5489 <br>
      Fax: + 886.2.2757.6121 </font></td>
    <td align="left"><font size=2 face="Arial, Helvetica, sans-serif">http://www.aseglobal.com</font> </td>
  </tr>
</table>
<P align="center"><font face="Arial, Helvetica, sans-serif"><B><FONT size=2>ADVANCED SEMICONDUCTOR ENGINEERING, INC. REPORTS CONSOLIDATED <br>
  YEAR 2003 FOURTH-QUARTER AND FULL YEAR FINANCIAL RESULTS</FONT></B></font></P>
<P> <FONT size=2 face="Arial, Helvetica, sans-serif">Taipei, Taiwan, R.O.C., February 2nd, 2004 &#150; Advanced Semiconductor Engineering, Inc. (TAIEX: 2311, NYSE: ASX) (&#147;We&#148;, ASE&#148;, or the &#147;Company&#148;), the world&#146;s largest independent provider of semiconductor packaging and testing services, today reported unaudited consolidated net revenues</FONT><font face="Arial, Helvetica, sans-serif"><SUP><FONT size=2>1</FONT></SUP><FONT size=2> of NT$18,430 million for the fourth quarter of 2003 (4Q03), up 43% from the year ago period and up 27% sequentially. Net income for the quarter totaled NT$2,148 million, representing earnings per share of NT$0.61, or US$0.090 per ADS. </FONT></font> </P>
<P> <FONT size=2 face="Arial, Helvetica, sans-serif">For the full year of 2003, the Company&#146;s revenues were NT$57,312 million, up 26% compared to 2002. Net income was NT$2,743 million, compared to NT$129 million in 2002. EPS was NT$0.78, or US$0.113 per ADS, grew 1850% compared with 2002 results. </FONT> </P>
<P> <FONT size=2 face="Arial, Helvetica, sans-serif">&#147;We are extremely pleased with our performance in the fourth quarter,&#148; commented Mr. Jason Chang, Chairman of ASE. &#147;Not only did we continue to achieve record quarterly revenues, we also posted the highest sequential growth and year-on-year growth for any Q4 in the Company&#146;s history. As a result, we have widened the lead over our nearest competitor and cemented our leading position as the largest IC backend manufacturing company in the world. During the quarter, demand for our services was strong across our entire customer base. We were able to capitalize on particularly robust demand for high-end capacity from wireless communication customers and computing customers, as a result of the technology and capacity investment that we have made throughout the year.&#148; </FONT> </P>
<P> <FONT size=2 face="Arial, Helvetica, sans-serif"> &#147;In addition to ramping up our packaging and testing businesses, we also made significant improvement in our substrate operations. Revenues from our substrate operations again grew more than 100% from the same quarter in 2002. The demand generated from accelerated migration from traditional leadframe-based packages to laminate-based technology far exceeds existing supply. Going forward, we believe the growth and profitability of any packaging company will be dependent upon having a stable supply of substrate.&#148; </FONT> </P>
<P> <FONT size=2 face="Arial, Helvetica, sans-serif">&#147;With our continuing revenue growth, our profitability also improved substantially as our equipment utilization rate increased and revenue mix shifted towards more high-end packages and test platforms. In 2004, we expect our margins to further expand as we derive more revenues from high-end capacity and as we further improve our substrate and test businesses.&#148; </FONT> </P>
<P> <font face="Arial, Helvetica, sans-serif"><B><FONT size=2>RESULTS OF OPERATIONS</FONT></B></font></P>
<hr align="left" width="20%" size="1" noshade>
<P><font face="Arial, Helvetica, sans-serif"><SUP><FONT size=1>1</FONT></SUP><FONT size=1> All financial information presented in this press release is unaudited, consolidated and prepared in accordance with generally accepted accounting principles in the Republic of China, or ROC GAAP. Such financial information is generated internally by us, and has not been subjected to the same review and scrutiny, including internal auditing procedures and review by independent auditors, to which we subject our audited consolidated financial statements, and may vary materially from the audited consolidated financial information for the same period. Any evaluation of the financial information presented in this press release should also take into account our published audited consolidated financial statements and the notes to those statements. In addition, the financial information presented is not necessarily indicative of our results for any future period. </FONT></font> </P>
<P> <FONT size=2 face="Arial, Helvetica, sans-serif"> </FONT></P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="50%" align="right"><font size=2 face="Arial, Helvetica, sans-serif">1</font></td>
    <td align="right"><font face="Arial, Helvetica, sans-serif"><font size=2>February 2, 2004</font></font></td>
  </tr>
</table>
<P>&nbsp; </P>
<hr width="100%" size=3 noshade>
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<!-- MARKER PAGE="sheet: 1; page: 1" -->
<P>&nbsp; </P>
<table width="100%"  border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="Arial, Helvetica, sans-serif"><b>Advanced Semiconductor Engineering, Inc.</b> </font></td>
    <td><div align="right"><font face="Arial, Helvetica, sans-serif"><img src="feb0204_logo.gif" width="81" height="71"></font></div></td>
  </tr>
</table>
<P><font face="Arial, Helvetica, sans-serif"> </font></P>
<P> <font face="Arial, Helvetica, sans-serif"><B><U><FONT size=2>4Q03 Results</FONT></U></B> </font></P>
<UL>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Net revenues amounted to NT$18,430 million, up 43% from 4Q02 and up 27% sequentially. The revenue contribution can be broken down into NT$14,598 million from packaging operations, NT$3,790 million from testing operations, and NT$42 million from other revenues.</FONT>
  </LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Costs of revenues were NT$13,849 million, representing an increase of 32% compared to 4Q02 and an increase of 18% compared to 3Q03.
    </FONT>
      <ul>
        <li><font face="Arial, Helvetica, sans-serif"><font size=2>As a percentage of net revenues, cost of revenues was 75% in 4Q03, down from 82% in 4Q02 and 81% in 3Q03.
        </font></font></li>
        <li><font face="Arial, Helvetica, sans-serif"><FONT size=2>Depreciation expense totaled NT$3,085 million during the quarter, an increase of 6% compared with 4Q02 and an increase of 3% sequentially, due to increased capital expenditures. As a percentage of net revenues, depreciation expense was 17% during the quarter, down from 23% in 4Q02 and 21% in 3Q03, primarily due to higher equipment utilization and increase in revenues from advanced processes that translated into higher average selling price.
        </FONT></font></li>
      </ul>
  </li>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif"> Gross profit for the quarter was NT$4,581 million, increased 97% year-on-year and increased 65% sequentially. Gross margin during the quarter was 25%, up from 18% in 4Q02 and up from 19% in 3Q03.</FONT></LI>

  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Total operating expenses were NT$2,094 million, including NT$660 million in research and development expense, and NT$1,434 million in selling, general and administrative expenses. Goodwill amortization expenses related to past acquisition of consolidated entities amounted to NT$202 million.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Operating profit for the quarter amounted to NT$2,487 million, growing from an operating loss of NT$709 million in the year-ago quarter and an operating profit of NT$826 million in previous quarter. Operating margin reached 14% in 4Q03.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">We recorded net non-operating expenses of NT$562 million in 4Q03, compared with NT$781 million in 4Q02 and NT$489 million in 3Q03.
    </FONT>
      <ul>
        <li><font face="Arial, Helvetica, sans-serif"><FONT size=2>Net interest expense for the quarter was NT$238 million, down from NT$417 million in 4Q02 and down from NT$299 million in 3Q03. The decrease in interest expense was primarily due to lower interest rates and reduced level of borrowings. </FONT></font> </li>
        <li><font face="Arial, Helvetica, sans-serif"><FONT size=2>We recorded a foreign exchange loss of NT$192 million as a result of the appreciation of Japanese Yen against NT dollars, which has a negative impact on our Japanese Yen payables and loans. </FONT></font> </li>
        <li><font face="Arial, Helvetica, sans-serif"><FONT size=2>Loss on long-term investment was NT$40 million, consisting of NT$15 million of net investment gain from minority-owned affiliates, and NT$55 million of goodwill amortization related to such minority-owned affiliates. The net investment gain from minority-owned affiliates included NT$43 million of investment income from Universal Scientific Industrial Co. ("USI") and NT$4 million from Hung Ching Construction, and partly offset by loss of NT$32 million from other invested companies.
        </FONT></font> </li>
      </ul>
  </LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Income before tax was NT$1,925 million. We recognized an income tax benefit of NT$531 million during the quarter. Minority interest adjustment for the quarter amounted to NT$308 million, primarily due to adjustment on earnings contributed by ASE Test Limited.</FONT>
  </LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">In 4Q03, net income amounted to NT$2,148 million, compared with loss of NT$29 million for 4Q02 and NT$583 million for 3Q03.</FONT>
  </LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Our total shares outstanding at the end of the quarter were 3,579,914,106. Our earnings per share for the fourth quarter of 2003 was NT$0.61, or US$0.090 per ADS, based on 3,537,048,918 weighted average number of shares outstanding during the fourth quarter.</FONT><BR>
  </LI>
</UL>
<P> <font face="Arial, Helvetica, sans-serif"><B><U><FONT size=2>2003 Full Year Results</FONT></U></B> </font></P>
<UL>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Net revenues during 2003 amounted to NT$57,312 million, up 26% from 2002. Revenues from packaging operations reached NT$45,027 million, up 27% compared with previous year. Testing revenues amounted to NT$12,142 million, an increase of 21% versus 2002.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Costs of revenues were NT$46,466 million, representing an increase of 21% compared with 2002. As a percentage of net revenues, cost of revenues was 81% in 2003 and down from 84% in 2002.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Depreciation expense totaled NT$11,901 million during the year, an increase of 4%</FONT></LI>
</UL>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="50%" align="right"><font size=2 face="Arial, Helvetica, sans-serif">2</font></td>
    <td align="right"><font face="Arial, Helvetica, sans-serif"><font size=2>February 2, 2004</font></font></td>
  </tr>
</table>
<hr width="100%" size=3 noshade>
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<P>&nbsp; </P>
<table width="100%"  border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="Arial, Helvetica, sans-serif"><b>Advanced Semiconductor Engineering, Inc.</b> </font></td>
    <td><div align="right"><font face="Arial, Helvetica, sans-serif"><img src="feb0204_logo.gif" width="81" height="71"></font></div></td>
  </tr>
</table>
<P><font face="Arial, Helvetica, sans-serif"> </font></P>
<blockquote>
   <FONT size=2 face="Arial, Helvetica, sans-serif">compared with NT$11,398 million in 2002. As a percentage of net revenues, depreciation expense was 21% in 2003, down from 25% in 2002.</FONT>
</blockquote>
<UL>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Gross profit for the year was NT$10,846 million, increased 53% year-on-year. Gross margin also increased to 19% from 16% in 2002.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Total operating expenses in 2003 decreased slightly to NT$7,575 million compared with NT$7,780 million in 2002. Excluding the one-time impairment charge of NT$1,226 million in 2002, operating expenses increased 16% in 2003.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Operating profit for the year amounted to NT$3,271 million, improving from operating loss of NT$685 million in the previous year. Operating margin increased to 6% compared with minus 2% in 2002.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Total non-operating expenses totaled NT$1,859 million, compared with NT$2,071 million in 2002. The decrease in non-operating expenses was primarily due to 1). decrease of net interest expense to NT$773 million in 2003 from NT$1,579 million in 2002, mainly as a result of lower interest rate and reduced leverage, and 2). Improvement of the operations of minority-owned affiliates. Loss from our long-term investment reduced to NT$241 million in 2003 from NT$410 million in the previous year.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Income before tax totaled NT$1,412 million, significantly improved from loss before tax of NT$2,756 million in 2002. We recognized an income tax benefit of NT$1,278 million during the year, compared with NT$1,152 million in 2002.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Net income amounted to NT$2,743 million, increased from NT$129 million in 2002.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">For the full year 2003, our earnings per share were NT$0.78, or US$0.113 per ADS, based on 3,537,048,918 weighted average number of shares outstanding.</FONT><BR>
  </LI>
</UL>
<P> <font face="Arial, Helvetica, sans-serif"><B><FONT size=2>LIQUITY AND CAPITAL RESOURCES</FONT></B> </font></P>
<UL>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Capital expenditures in Q403 totaled US$147 million. The breakdown of such capital expenditures by operations is as follows: US$58 million for packaging operations, US$81 million for testing operations and US$8 million for interconnect materials. For the full year 2003, capital expenditures totaled US$424 million, of which US$215 million is for packaging operation, US$189 million is for testing operation and US$20 million is for interconnect materials.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">EBITDA for the quarter totaled NT$5,745 million, up 56% from NT$3,681 million in the year-ago quarter and up 39% from previous quarter primarily as a result of higher revenues during the quarter. Full year EBITDA totaled NT$16,661 million, representing an increase of 20% compared with previous year.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">At the end of 4Q03, we had cash on hand plus short-term investment of NT$11,562 million, as compared with NT$16,966 million at the end of 3Q03.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">As of December 31, 2003, we had total bank debt of NT$42,620 million, consisting of NT$6,124 million of revolving working capital loan, NT$5,656 million of current portion of long-term debt, NT$23,979 million of long-term debt and NT$6,861 million long-term bonds payable. Total unused banking facilities amounted to NT$12,288 million.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Total number of employees reached 24,443 as of December 31, 2003, compared with 20,401 as of end of 2002.</FONT><BR>
  </LI>
</UL>
<P> <font face="Arial, Helvetica, sans-serif"><B><FONT size=2>BUSINESS REVIEW</FONT></B> </font></P>
<P> <font face="Arial, Helvetica, sans-serif"><B><U><FONT size=2>Packaging Services</FONT></U></B> </font></P>
<UL>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Revenues generated from our packaging operations were NT$14,598 million during the quarter, up 45% year-over-year and up 28% sequentially. The revenue growth was primarily due to the increase in packaging volume. The average selling price of our packaging services remained stable compared with previous quarter.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Revenues from flip chip packages (including wafer bumping) accounted for 8% of total packaging revenues.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Revenues from BGA and other substrate-based packages comprised 43% of total packaging revenues during the quarter, compared with 47% in 4Q02 and 43% in the previous quarter.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Advanced lead frame based packages, including QFP, TQFP, LQFP, QFN and BCC, accounted for 27% of total packaging revenues, down from 29% in a year ago quarter and</FONT><BR>
  </LI>
</UL>
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    <td width="50%" align="right"><font size=2 face="Arial, Helvetica, sans-serif">3</font></td>
    <td align="right"><font face="Arial, Helvetica, sans-serif"><font size=2>February 2, 2004</font></font></td>
  </tr>
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<table width="100%"  border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="Arial, Helvetica, sans-serif"><b>Advanced Semiconductor Engineering, Inc.</b> </font></td>
    <td><div align="right"><font face="Arial, Helvetica, sans-serif"><img src="feb0204_logo.gif" width="81" height="71"></font></div></td>
  </tr>
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<P>&nbsp;</P>
<blockquote>  <FONT size=2 face="Arial, Helvetica, sans-serif">also 28% in the previous quarter. </FONT> </blockquote>
<UL>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Gross margin of packaging operations was 23%, up from 19% in a year ago quarter and up from 18% in the previous quarter.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Capital expenditure on the packaging operations amounted to US$58 million during the quarter, of which US$48 million was for wirebonding packaging capacity, and US$10 million was for wafer bumping and flip chip packaging equipment. Capital expenditures on packaging operations amounted to US$215 million for the full year of 2003</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">As of December 31, 2003, there were 5,230 wirebonders in operation. A total of 422 wirebonders were added during the fourth quarter of 2003. In 2003, there was a net increase of 837 wirebonders.</FONT></LI>
</UL>
<P> <font face="Arial, Helvetica, sans-serif"><B><U><FONT size=2>Testing Services</FONT></U></B> </font></P>
<UL>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Revenues generated from our testing operations were NT$3,790 million, up 36% year-over-year and up 24% sequentially.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Of the total testing revenues, 81% was contributed by our final test operations, 16% by wafer sort operations, and 3% by engineering test operations.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Growth in testing revenues came largely from volume increase compared to previous quarter, whereas ASP remained flat during the quarter.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Gross margin of our test operations was 32%, compared with 16% in the fourth quarter of 2002 and up from 25% in the third quarter of 2003.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Capital spending on the testing operations amounted to US$81 million during the quarter, and US$189 million for the full year of 2003.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">As of December 31, 2003, we operated a total of 1,263 testers, including 118 testers added during the quarter. In 2003, there was a net increase of 197 testers to our capacity.</FONT><BR>
  </LI>
</UL>
<P> <font face="Arial, Helvetica, sans-serif"><B><U><FONT size=2>Interconnect Materials</FONT></U></B> </font></P>
<UL>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">ASE Materials recorded revenues of NT$1,771 million for the quarter, up 103% year-over-year and up 21% sequentially. Gross margin of ASE Material reached 19% during the quarter. In the fourth quarter of 2003, ASE Material supplied 55% (by value) of our total PBGA substrate requirements. Substantially all of ASE Material&#146;s revenues derived from inter-company sales and are not reflected in ASE&#146;s consolidated revenues.</FONT><BR>
  </LI>
</UL>
<P> <font face="Arial, Helvetica, sans-serif"><B><U><FONT size=2>Customers</FONT></U></B> </font></P>
<UL>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Our five largest customers together accounted for approximately 35% of its net revenues in 4Q03, compared with 43% in 4Q02 and 36% in 3Q03. No single customer accounted for more than 10% of our total revenues.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Our top 10 customers contributed 52% of its revenues during the quarter, compared with 60% in 4Q02 and remained unchanged versus 3Q03.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">Our customers that are integrated device manufacturers, or IDMs, accounted for 48% of our revenues in 4Q03, compared with 57% in 4Q02 and 48% in 3Q03.</FONT><BR>
  </LI>
</UL>
<P> <font face="Arial, Helvetica, sans-serif"><B><U><FONT size=2>Quarterly Highlights</FONT></U></B> </font></P>
<UL>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">ASE Inc. to merge with ASE (Chung-Li) Inc. and ASE Material Inc. Efficiency shall be further enhanced due to simplified organization structure.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">ASE Inc. and Compeq Manufacturing Co. Ltd. to form strategic alliance and establish joint venture to develop high-end package material business.</FONT></LI>
  <LI><FONT size=2 face="Arial, Helvetica, sans-serif">ASE develops packaging solutions for austriamicrosystems&#146; secure wireless communication device to be implemented on future Mercedes high-end models.</FONT><BR>
  </LI>
</UL>
<P> <font face="Arial, Helvetica, sans-serif"><B><I><U><FONT size=2>About ASE Inc.</FONT></U></I></B> </font></P>
<P> <font face="Arial, Helvetica, sans-serif"><I><FONT size=2>ASE Inc. is the world's largest independent provider of semiconductor packaging services and, together with its subsidiary ASE Test Limited (Nasdaq: ASTSF), the world's largest independent provider of semiconductor testing services, including front-end engineering testing, wafer probing and final testing services. The Company&#146;s international customer base of more than 200 </FONT></I> </font></P>
<P> <FONT size=2 face="Arial, Helvetica, sans-serif"> </FONT></P>
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    <td width="50%" align="right"><font size=2 face="Arial, Helvetica, sans-serif">4</font></td>
    <td align="right"><font face="Arial, Helvetica, sans-serif"><font size=2>February 2, 2004</font></font></td>
  </tr>
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<P>&nbsp; </P>
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<P>&nbsp;</P>
<table width="100%"  border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="Arial, Helvetica, sans-serif"><b>Advanced Semiconductor Engineering, Inc.</b> </font></td>
    <td><div align="right"><font face="Arial, Helvetica, sans-serif"><img src="feb0204_logo.gif" width="81" height="71"></font></div></td>
  </tr>
</table>
<P> <font face="Arial, Helvetica, sans-serif"> </font></P>
<P> <font face="Arial, Helvetica, sans-serif"><I><FONT size=2>customers include such leading names as ATI Technologies Inc., Cirrus Logic International Ltd., IBM Corporation, Motorola, Inc., NVIDIA Corporation, Koninklijke Philips Electronics N.V., Qualcomm Incorporated, STMicroelectronics N.V. and VIA Technologies, Inc. With advanced 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 </FONT></I> </font></P>
<P> <font face="Arial, Helvetica, sans-serif"><B><FONT size=1>Safe Harbor Notice </FONT></B> </font></P>
<P> <FONT size=2 face="Arial, Helvetica, sans-serif">This press release contains &#147;forward-looking statements&#148; within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although these forward-looking statements, which may include statements regarding our future results of operations, financial condition or business prospects, are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release. Our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied in these forward-looking statements for a variety of reasons, including risks associated with the highly competitive nature of the semiconductor industry, our ability to introduce new packaging and testing technologies in order to remain competitive, our ability to succe


ssfully integrate future acquisitions, risks associated with international business activities, our business strategy, general economic and political conditions, possible disruptions in commercial activities caused by natural disasters or industrial accidents, our future expansion plans and capital expenditures, and fluctuations in foreign currency exchange rates. For a discussion of these risks and other factors, please see the documents we file from time to time with the Securities and Exchange Commission, including our Annual Report on Form 20-F filed on June 30, 2003. </FONT> </P>
<P align="center"> <FONT size=2 face="Arial, Helvetica, sans-serif">##</FONT> </P>
<P align="center">&nbsp; </P>
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    <td width="50%" align="right"><font size=2 face="Arial, Helvetica, sans-serif">5</font></td>
    <td align="right"><font face="Arial, Helvetica, sans-serif"><font size=2>February 2, 2004</font></font></td>
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<div align="center">
  <p><br>
      <font face="Arial, Helvetica, sans-serif"><B><FONT size=2>Supplemental Financial Information</FONT></B></font> </p>
  <div align="left"><font face="Arial, Helvetica, sans-serif"><B><FONT size=2>Consolidated Operations</FONT></B></font><br>
  </div>
</div>
<TABLE width="90%" border=1 align="center" cellpadding=0 cellspacing=0>
  <TR>
    <TD><font face="Arial, Helvetica, sans-serif"><FONT size=2>Amounts in NT</FONT></font><FONT size=2 face="Arial, Helvetica, sans-serif">$ Millions</FONT></TD>
    <TD width="14%" align="center"><strong><FONT size=2 face="Arial, Helvetica, sans-serif">4Q/03</FONT></strong></TD>
    <TD width="14%" align="center"><strong><FONT size=2 face="Arial, Helvetica, sans-serif">3Q/03</FONT></strong></TD>
    <TD width="14%" align="center"><strong><FONT size=2 face="Arial, Helvetica, sans-serif">4Q/02</FONT></strong></TD>
  </TR>
  <TR>
    <TD width="51%" rowspan="2" valign="top" bgcolor="#003366"><font color="#FFFFFF" face="Arial, Helvetica, sans-serif"><B><FONT size=2>Net Revenues<br>
    </FONT></B></font><font face="Arial, Helvetica, sans-serif"><B><FONT color="#FFFFFF" size=2>Revenues by End Application</FONT></B></font></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">18,430</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">14,525</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">12,854</FONT></TD>
  </TR>
  <TR>
    <TD width="14%" align="right">&nbsp;</TD>
    <TD width="14%" align="right">&nbsp;</TD>
    <TD width="14%" align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="51%"><FONT size=2 face="Arial, Helvetica, sans-serif">Communication</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">35%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">32%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">38%</FONT></TD>
  </TR>
  <TR>
    <TD><font face="Arial, Helvetica, sans-serif"><FONT size=2>Computer</FONT></font></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">35%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">39%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">35%</FONT></TD>
  </TR>
  <TR>
    <TD width="51%"><FONT size=2 face="Arial, Helvetica, sans-serif">Automotive and Consumers</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">28%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">29%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">25%</FONT></TD>
  </TR>
  <TR>
    <TD><font face="Arial, Helvetica, sans-serif"><FONT size=2>Others</FONT></font></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">2%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">0%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">2%</FONT></TD>
  </TR>
  <TR>
    <TD width="51%" bgcolor="#003366"><font face="Arial, Helvetica, sans-serif"><B><FONT color="#FFFFFF" size=2>Revenues by Region</FONT></B></font></TD>
    <TD width="14%" align="right">&nbsp;</TD>
    <TD width="14%" align="right">&nbsp;</TD>
    <TD width="14%" align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>North America</FONT></font></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">60%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">57%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">54%</FONT></TD>
  </TR>
  <TR>
    <TD><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Europe</FONT></font></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">9%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">9%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">7%</FONT></TD>
  </TR>
  <TR>
    <TD><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Taiwan</FONT></font></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">28%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">30%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">27%</FONT></TD>
  </TR>
  <TR>
    <TD><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Japan</FONT></font></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">2%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">2%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">1%</FONT></TD>
  </TR>
  <TR>
    <TD><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Other Asia</FONT></font></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">1%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">2%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">11%</FONT></TD>
  </TR>
</table>
<p>&nbsp;</p>
<font face="Arial, Helvetica, sans-serif"><B><FONT size=2>Packaging Services</FONT></B></font>
<TABLE width="90%" border=1 cellspacing=0 cellpadding=0 align="center">
  <TR valign="bottom">
    <TD><font face="Arial, Helvetica, sans-serif"><FONT size=2>Amounts in NT</FONT></font><FONT size=2 face="Arial, Helvetica, sans-serif">$ Millions</FONT></TD>
    <TD width="14%" align="center"><strong><FONT size=2 face="Arial, Helvetica, sans-serif">4Q/03</FONT></strong></TD>
    <TD width="14%" align="center"><strong><FONT size=2 face="Arial, Helvetica, sans-serif">3Q/03</FONT></strong></TD>
    <TD width="14%" align="center"><strong><FONT size=2 face="Arial, Helvetica, sans-serif">4Q/02</FONT></strong></TD>
  </TR>
  <TR valign="bottom">
    <TD width="51%" rowspan="2" bgcolor="#003366"><font face="Arial, Helvetica, sans-serif"><B><FONT color="#FFFFFF" size=2>Net Revenues<br>
    </FONT></B></font><font color="#FFFFFF" face="Arial, Helvetica, sans-serif"><B><FONT size=2>Revenues by End Application</FONT></B></font></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">14,598</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">11,420</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">10,058</FONT></TD>
  </TR>
  <TR>
    <TD width="14%" align="right">&nbsp;</TD>
    <TD width="14%" align="right">&nbsp;</TD>
    <TD width="14%" align="right">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="51%"><FONT size=2 face="Arial, Helvetica, sans-serif">Communication</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">35%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">31%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">37%</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD><font face="Arial, Helvetica, sans-serif"><FONT size=2>Computer</FONT></font></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">38%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">42%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">38%</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD width="51%"><FONT size=2 face="Arial, Helvetica, sans-serif">Automotive and Consumers</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">26%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">27%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">24%</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD><font face="Arial, Helvetica, sans-serif"><FONT size=2>Others</FONT></font></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">1%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">0%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">1%</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD width="51%" bgcolor="#003366"><font face="Arial, Helvetica, sans-serif"><B><FONT color="#FFFFFF" size=2>Revenues by Package Type</FONT></B></font></TD>
    <TD width="14%" align="right">&nbsp;</TD>
    <TD width="14%" align="right">&nbsp;</TD>
    <TD width="14%" align="right">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="51%"><FONT size=2 face="Arial, Helvetica, sans-serif">Flip Chip &amp; Bumping</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">8%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">8%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">5%</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD width="51%"><FONT size=2 face="Arial, Helvetica, sans-serif">Traditional substrate based</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">43%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">43%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">47%</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD width="51%"><FONT size=2 face="Arial, Helvetica, sans-serif">Advanced leadframe based</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">27%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">28%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">29%</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD width="51%"><FONT size=2 face="Arial, Helvetica, sans-serif">Traditional leadframe based</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">8%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">9%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">11%</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD width="51%"><FONT size=2 face="Arial, Helvetica, sans-serif">Modules &amp; Others</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">14%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">12%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">8%</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD bgcolor="#003366"><font face="Arial, Helvetica, sans-serif"><B><FONT color="#FFFFFF" size=2>Capacity</FONT></B></font></TD>
    <TD width="14%" align="right">&nbsp;</TD>
    <TD width="14%" align="right">&nbsp;</TD>
    <TD width="14%" align="right">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="51%"><FONT size=2 face="Arial, Helvetica, sans-serif">CapEx (US$ Millions) *</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">58</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">38</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">66</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD width="51%"><FONT size=2 face="Arial, Helvetica, sans-serif">Number of Wirebonders</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">5,230</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">4,808</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">4,393</FONT></TD>
  </TR>
</table>
<p>&nbsp;</p>
<font face="Arial, Helvetica, sans-serif"><B><FONT size=2>Testing Services</FONT></B></font>
<TABLE width="90%" border=1 cellspacing=0 cellpadding=0 align="center">
  <TR valign="bottom">
    <TD><font face="Arial, Helvetica, sans-serif"><FONT size=2>Amounts in NT</FONT></font><FONT size=2 face="Arial, Helvetica, sans-serif">$ Millions</FONT></TD>
    <TD width="14%" align="center"><strong><FONT size=2 face="Arial, Helvetica, sans-serif">4Q/03</FONT></strong></TD>
    <TD width="14%" align="center"><strong><FONT size=2 face="Arial, Helvetica, sans-serif">3Q/03</FONT></strong></TD>
    <TD width="14%" align="center"><strong><FONT size=2 face="Arial, Helvetica, sans-serif">4Q/02</FONT></strong></TD>
  </TR>
  <TR valign="bottom">
    <TD width="51%" rowspan="2" bgcolor="#003366"><font face="Arial, Helvetica, sans-serif"><B><FONT color="#FFFFFF" size=2>Net Revenues<br>
    </FONT></B></font><font face="Arial, Helvetica, sans-serif"><B><FONT color="#FFFFFF" size=2>Revenues by End Application</FONT></B></font></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">3,790</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">3,066</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">2,788</FONT></TD>
  </TR>
  <TR>
    <TD width="14%" align="right">&nbsp;</TD>
    <TD width="14%" align="right">&nbsp;</TD>
    <TD width="14%" align="right">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="51%"><FONT size=2 face="Arial, Helvetica, sans-serif">Communication</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">38%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">35%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">40%</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD><font face="Arial, Helvetica, sans-serif"><FONT size=2>Computer</FONT></font></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">23%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">27%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">24%</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD width="51%"><FONT size=2 face="Arial, Helvetica, sans-serif">Automotive and Consumers</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">35%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">35%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">31%</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD><font face="Arial, Helvetica, sans-serif"><FONT size=2>Others</FONT></font></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">4%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">3%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">5%</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD width="51%" bgcolor="#003366"><font face="Arial, Helvetica, sans-serif"><B><FONT color="#FFFFFF" size=2>Revenues by Testing Type</FONT></B></font></TD>
    <TD width="14%" align="right">&nbsp;</TD>
    <TD width="14%" align="right">&nbsp;</TD>
    <TD width="14%" align="right">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD><font face="Arial, Helvetica, sans-serif"><FONT size=2>Final test</FONT></font></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">81%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">78%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">83%</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD><font face="Arial, Helvetica, sans-serif"><FONT size=2>Wafer sort</FONT></font></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">16%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">18%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">12%</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD width="51%"><FONT size=2 face="Arial, Helvetica, sans-serif">Engineering test</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">3%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">4%</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">5%</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD bgcolor="#003366"><font face="Arial, Helvetica, sans-serif"><B><FONT color="#FFFFFF" size=2>Capacity</FONT></B></font></TD>
    <TD width="14%" align="right">&nbsp;</TD>
    <TD width="14%" align="right">&nbsp;</TD>
    <TD width="14%" align="right">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="51%"><FONT size=2 face="Arial, Helvetica, sans-serif">CapEx (US$ Millions) *</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">81</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">36</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">30</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD width="51%"><FONT size=2 face="Arial, Helvetica, sans-serif">Number of Testers</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">1,263</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">1,145</FONT></TD>
    <TD width="14%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">1,066</FONT></TD>
  </TR>
</TABLE>
<blockquote>
  <p><FONT size=2 face="Arial, Helvetica, sans-serif">* Capital expenditure amounts exclude building construction cost. <br>
        <br>
  </FONT> </p>
</blockquote>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="50%" align="right"><font size=2 face="Arial, Helvetica, sans-serif">6</font></td>
    <td align="right"><font face="Arial, Helvetica, sans-serif"><font size=2>February 2, 2004</font></font></td>
  </tr>
</table>
<P align="center">&nbsp;</P>
<hr width="100%" size=3 noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE="sheet: 1; page: 1" -->
<P align="center" style='line-height:120%'> <font face="Arial, Helvetica, sans-serif"><B><FONT size=2>Advanced Semiconductor Engineering, Inc. <br>
  Consolidated Summary Income Statements Data<br>
  (In NT$ millions, except per share data) <br>
  (Unaudited) </FONT></B> </font></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan=5 align="center"><FONT size=2 face="Arial, Helvetica, sans-serif">For the three months ended</FONT></TD>
    <TD align="center">&nbsp;</TD>
    <TD colspan=3 align="center"><FONT size=2 face="Arial, Helvetica, sans-serif">For the twelve months ended</FONT></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan=5><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
    <TD colspan=3><HR noshade size=1></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center"><font size=2 face="Arial, Helvetica, sans-serif">Dec. 31</font></TD>
    <TD align="center">&nbsp;</TD>
    <TD align="center"><font size=2 face="Arial, Helvetica, sans-serif">Sep. 30</font></TD>
    <TD align="center">&nbsp;</TD>
    <TD align="center"><font size=2 face="Arial, Helvetica, sans-serif">Dec. 31</font></TD>
    <TD align="center">&nbsp;</TD>
    <TD width="11%" align="center"><font size=2 face="Arial, Helvetica, sans-serif">Dec. 31</font></TD>
    <TD align="center">&nbsp;</TD>
    <TD width="11%" align="center"><font size=2 face="Arial, Helvetica, sans-serif">Dec. 31</font></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center"><font size=2 face="Arial, Helvetica, sans-serif">2003</font></TD>
    <TD align="center">&nbsp;</TD>
    <TD align="center"><font size=2 face="Arial, Helvetica, sans-serif">2003</font></TD>
    <TD align="center">&nbsp;</TD>
    <TD align="center"><font size=2 face="Arial, Helvetica, sans-serif">2002</font></TD>
    <TD align="center">&nbsp;</TD>
    <TD align="center"><font size=2 face="Arial, Helvetica, sans-serif">2003</font></TD>
    <TD align="center">&nbsp;</TD>
    <TD align="center"><font size=2 face="Arial, Helvetica, sans-serif">2002</font></TD>
  </TR>
  <TR>
    <TD><FONT size=2 face="Arial, Helvetica, sans-serif">Net revenues:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Packaging</FONT></font></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">14,598</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">11,420</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">10,058</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">45,027</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">35,515</FONT></TD>
  </TR>
  <TR>
    <TD><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Testing</FONT></font></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">3,790</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">3,066</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">2,788</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">12,142</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">10,061</FONT></TD>
  </TR>
  <TR>
    <TD><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Others</FONT></font></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">42</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">39</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">8</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">143</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">11</FONT></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
  </TR>
  <TR>
    <TD><FONT size=2 face="Arial, Helvetica, sans-serif">Total net revenues</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">18,430</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">14,525</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">12,854</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">57,312</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">45,587</font></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><hr noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><hr noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><hr noshade size=1></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD><FONT size=2 face="Arial, Helvetica, sans-serif">Cost of revenues</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">13,849</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">11,742</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">10,532</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">46,466</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">38,492</font></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><hr noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><hr noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><hr noshade size=1></TD>
  </TR>
  <TR>
    <TD><FONT size=2 face="Arial, Helvetica, sans-serif">Gross Profit</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">4,581</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">2,783</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">2,322</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">10,846</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">7,095</font></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><hr noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><hr noshade size=1></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD><FONT size=2 face="Arial, Helvetica, sans-serif">Operating expenses:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=2><FONT size=2 face="Arial, Helvetica, sans-serif">Research and development</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">660</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">601</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">592</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">2,354</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">2,049</font></TD>
  </TR>
  <TR>
    <TD colspan=2><FONT size=2 face="Arial, Helvetica, sans-serif">Selling, general and administrative</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">1,434</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">1,356</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">2,439</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">5,221</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">5,731</font></TD>
  </TR>
  <TR>
    <TD colspan=2>&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
  </TR>
  <TR>
    <TD colspan=2><FONT size=2 face="Arial, Helvetica, sans-serif">Total operating expenses</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">2,094</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">1,957</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">3,031</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">7,575</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">7,780</font></TD>
  </TR>
  <TR>
    <TD colspan=2>&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
  </TR>
  <TR>
    <TD><FONT size=2 face="Arial, Helvetica, sans-serif">Operating income (loss)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">2,487</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">826</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">(709)</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">3,271</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">(685)</font></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=2><FONT size=2 face="Arial, Helvetica, sans-serif">Net non-operating (income) expenses:</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=2><FONT size=2 face="Arial, Helvetica, sans-serif">Interest expenses (income) - net</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">238</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">299</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">417</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">773</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">1,579</font></TD>
  </TR>
  <TR>
    <TD colspan=2><FONT size=2 face="Arial, Helvetica, sans-serif">Foreign exchange loss (gain) - net</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">192</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">155</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">137</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">387</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">398</FONT></TD>
  </TR>
  <TR>
    <TD colspan=2><FONT size=2 face="Arial, Helvetica, sans-serif">Loss (income) on long-term investment</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">40</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">42</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">158</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">241</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">410</FONT></TD>
  </TR>
  <TR>
    <TD colspan=2><FONT size=2 face="Arial, Helvetica, sans-serif">Loss (gain) on disposal of assets</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">3</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">1</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">50</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">473</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">106</FONT></TD>
  </TR>
  <TR>
    <TD><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Others</FONT></font></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">89</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">(8)</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">19</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">(15)</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">(422)</font></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
  </TR>
  <TR>
    <TD colspan=2><FONT size=2 face="Arial, Helvetica, sans-serif">Total non-operating expenses</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">562</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">489</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">781</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">1,859</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">2,071</font></TD>
  </TR>
  <TR>
    <TD colspan=2>&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
  </TR>
  <TR>
    <TD><FONT size=2 face="Arial, Helvetica, sans-serif">Income (loss) before tax</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">1,925</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">337</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">(1,490)</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">1,412</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">(2,756)</font></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=2><FONT size=2 face="Arial, Helvetica, sans-serif">Income tax expense (benefit)</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">(531)</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">(235)</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">(551)</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">(1,278)</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">(1,152)</font></TD>
  </TR>
  <TR>
    <TD colspan=2>&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><hr noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><hr noshade size=1></TD>
  </TR>
  <TR>
    <TD colspan=2><FONT size=2 face="Arial, Helvetica, sans-serif">Net income (loss) before minority interest</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">2,456</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">572</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">(939)</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">2,690</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">(1,604)</font></TD>
  </TR>
  <TR>
    <TD colspan=2>&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD><FONT size=2 face="Arial, Helvetica, sans-serif">Minority interest</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">308</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">(11)</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">(910)</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">(53)</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">(1,733)</font></TD>
  </TR>
  <TR>
    <TD><FONT size=2 face="Arial, Helvetica, sans-serif">Net income (loss)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">2,148</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">583</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">(29)</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">2,743</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">129</FONT></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD><FONT size=2 face="Arial, Helvetica, sans-serif">Per share data:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=2><FONT size=2 face="Arial, Helvetica, sans-serif">Earnings per common share</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD><FONT size=2 face="Arial, Helvetica, sans-serif">&#150; Basic</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">NT</FONT><FONT size=2 face="Arial, Helvetica, sans-serif">$</FONT><FONT size=2 face="Arial, Helvetica, sans-serif">0.61</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">NT$0.17</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">NT$(0.01)</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">NT$0.78</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">NT$0.04</FONT></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD><FONT size=2 face="Arial, Helvetica, sans-serif">&#150; Diluted</FONT></TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">NT</font><FONT size=2 face="Arial, Helvetica, sans-serif">$</FONT><FONT size=2 face="Arial, Helvetica, sans-serif">0.61</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">NT$0.17</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">NT$(0.01)</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">NT$0.78</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">NT$0.04</FONT></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=2><FONT size=2 face="Arial, Helvetica, sans-serif">Earnings per pro forma equivalent ADS</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD><FONT size=2 face="Arial, Helvetica, sans-serif">&#150; Basic</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">US$0.090</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">US$0.024</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">US$(0.001)</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">US$0.113</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">US$0.005</font></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD><FONT size=2 face="Arial, Helvetica, sans-serif">&#150; Diluted</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">US$0.090</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">US$0.024</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">US$(0.001)</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">US$0.113</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">US$0.005</font></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><FONT size=2 face="Arial, Helvetica, sans-serif">Number of</FONT><FONT size=2 face="Arial, Helvetica, sans-serif"> weighted</FONT><FONT size=2 face="Arial, Helvetica, sans-serif"> average</FONT><FONT size=2 face="Arial, Helvetica, sans-serif"> shares</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">3,537,049</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">3,497,192</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">3,399,746</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">3,537,049</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><font size=2 face="Arial, Helvetica, sans-serif">3,399,746</font></TD>
  </TR>
  <TR>
    <TD colspan="2"><FONT size=2 face="Arial, Helvetica, sans-serif">used in </FONT><FONT size=2 face="Arial, Helvetica, sans-serif">diluted</FONT><FONT size=2 face="Arial, Helvetica, sans-serif"> EPS</FONT><FONT size=2 face="Arial, Helvetica, sans-serif"> calculation</FONT><FONT size=2 face="Arial, Helvetica, sans-serif"> (in</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD><FONT size=2 face="Arial, Helvetica, sans-serif">thousands)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD><FONT size=2 face="Arial, Helvetica, sans-serif">Forex (NT$ per US</FONT><FONT size=2 face="Arial, Helvetica, sans-serif">$</FONT><FONT size=2 face="Arial, Helvetica, sans-serif">1)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD width="10%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">33.90</FONT></TD>
    <TD width="2%" align="right">&nbsp;</TD>
    <TD width="10%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">34.27</FONT></TD>
    <TD width="2%" align="right">&nbsp;</TD>
    <TD width="10%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">34.80</FONT></TD>
    <TD width="2%" align="right">&nbsp;</TD>
    <TD width="11%" align="right"><font size=2 face="Arial, Helvetica, sans-serif">34.38</font></TD>
    <TD width="2%" align="right">&nbsp;</TD>
    <TD width="11%" align="right"><font size=2 face="Arial, Helvetica, sans-serif">34.55</font></TD>
  </TR>
</TABLE>
<P align="center">&nbsp; </P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="50%" align="right"><font size=2 face="Arial, Helvetica, sans-serif">7</font></td>
    <td align="right"><font face="Arial, Helvetica, sans-serif"><font size=2>February 2, 2004</font></font></td>
  </tr>
</table>
<hr width="100%" size=3 noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE="sheet: 1; page: 1" -->
<p  style='line-height:120%' align="CENTER"><font face="Arial, Helvetica, sans-serif"><B><FONT size=2>Advanced Semiconductor Engineering, Inc. <font face="Arial, Helvetica, sans-serif"><b><font size=2><br>
  Consolidated Summary Balance Sheet Data</font></b></font> <font face="Arial, Helvetica, sans-serif"><b><font size=2><br>
  (In NT$ millions)</font></b></font> <font face="Arial, Helvetica, sans-serif"><b><font size=2><br>
  (Unaudited)</font></b></font> <br>
  </FONT></B></font>
<TABLE width="99%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD width="56%">&nbsp;</TD>
    <TD colspan="2" align="center"><strong><FONT size=2 face="Arial, Helvetica, sans-serif">As of Dec. 31, 2003</FONT></strong></TD>
    <TD colspan="2" align="right"><strong><FONT size=2 face="Arial, Helvetica, sans-serif">As of Sep. 30, 2003</FONT></strong></TD>
    <TD width="10%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD colspan="2"><HR noshade size=1></TD>
    <TD width="6%">&nbsp;</TD>
    <TD><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><FONT size=2 face="Arial, Helvetica, sans-serif">Current assets:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Cash and cash equivalents</FONT></font></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">8,544</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">13,552</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Short-term investments</FONT></font></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">3,018</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">3,414</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Notes and accounts receivable</FONT></font></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">12,910</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">10,680</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Inventories</FONT></font></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">4,771</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">4,296</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Others</FONT></font></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">2,019</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">2,038</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Total</FONT></font></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">31,262</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">33,980</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD width="15%" align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><FONT size=2 face="Arial, Helvetica, sans-serif">Long-term investments</FONT></TD>
    <TD width="13%" align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">6,358</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">6,402</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><FONT size=2 face="Arial, Helvetica, sans-serif">Properties &#150; net</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">67,340</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">64,824</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><FONT size=2 face="Arial, Helvetica, sans-serif">Other assets</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">9,501</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">9,437</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><FONT size=2 face="Arial, Helvetica, sans-serif">Total assets</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">114,461</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">114,643</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><FONT size=2 face="Arial, Helvetica, sans-serif">Current liabilities:</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Short-term debts &#150; revolving credit</FONT></font></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">6,124</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">6,536</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Short-term debts &#150; current portion of long-term</FONT></font></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">5,656</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">3,839</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2>debts</FONT></font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Short-term debts &#150; current portion of long-term</FONT></font></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">0</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">0</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2>bonds payable</FONT></font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Notes and accounts payable</FONT></font></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">6,660</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">4,752</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Others</FONT></font></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">9,393</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">9,415</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><font face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;<FONT size=2>Total</FONT></font></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">27,833</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">24,542</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><FONT size=2 face="Arial, Helvetica, sans-serif">Long-term debts</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">23,979</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">30,291</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><FONT size=2 face="Arial, Helvetica, sans-serif">Long-term bonds payable</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">6,861</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">6,756</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><FONT size=2 face="Arial, Helvetica, sans-serif">Other liabilities</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">587</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">514</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><FONT size=2 face="Arial, Helvetica, sans-serif">Total liabilities</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">59,260</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">62,103</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><FONT size=2 face="Arial, Helvetica, sans-serif">Minority interest</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">10,078</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">9,645</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><FONT size=2 face="Arial, Helvetica, sans-serif">Shareholders&#146; equity</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">45,123</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">42,895</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2"><FONT size=2 face="Arial, Helvetica, sans-serif">Total liabilities &amp; shareholders&#146; equity</FONT></TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">114,461</FONT></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><FONT size=2 face="Arial, Helvetica, sans-serif">114,643</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
  </TR>
</TABLE>
<P align="center">&nbsp; </P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="50%" align="right"><font size=2 face="Arial, Helvetica, sans-serif">8</font></td>
    <td align="right"><font face="Arial, Helvetica, sans-serif"><font size=2>February 2, 2004</font></font></td>
  </tr>
</table>
<P align="center"><font face="Arial, Helvetica, sans-serif">&nbsp;</font> </P>
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`
end

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
