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2007'02.01.Thu
AU Optronics to Merge Quanta Display
April 08, 2006

    HSINCHU, Taiwan, April 8 /Xinhua-PRNewswire/ -- AU
Optronics Corp. ("AUO" or the
"Company") (TAIEX: 2409; NYSE: AUO) and Quanta
Display Inc. ("QDI" TAIEX: 3012) today announced
that they have signed an agreement to merge Quanta Display
Inc (QDI) with and into AUO.  The merger agreement was
approved this afternoon by the Boards of Directors of both
AUO and QDI.  The consolidation date of the merger is
targeted for October 1st, 2006, at which time QDI will be
absorbed into AUO.  The merged entity will operate as AUO. 
The swap ratio for QDI to AUO would be 3.5 to 1, subject to
be approved by the shareholders meetings of both AUO and
QDI, and to be after AUO's increase of its paid-in
capital.

    After the merger taken place, two board members of
AUO's Boards of Directors will be appointed by QDI.  Mr. KY
Lee and Mr. HB Chen will remain as Chairman/CEO and
President/COO of AUO, while Mr. CC Leung will be appointed
as Vice Chairman.

    AUO's Board of Directors today also adopted a proposal
recommending distribution of NT$0.3 cash dividend and 3
percent stock dividend (30 shares for every 1,000 owned)
per common share and employee profit sharing in the form of
NT$379,735,891 in cash and 88,605,041 in stock shares.  The
proposal will be discussed and approved at the Company's
regular shareholders' meeting, scheduled for June 15,
2006.

    Quanta's Chairman, Mr. Barry Lam stated that the
strategic partnership combines the unique complementary
strengths of both companies, especially in technology,
product mix, customer portfolio, and different generations
of manufacturing facilities.  It not only creates the
economy of scale and enhances the global competitiveness,
but also offers an extensive product and technology
portfolio as well as better service.

    Mr. KY Lee, AUO's Chairman, reiterated that the merger
will achieve the following objectives:

    - The resource especially in finance and human
resources of Taiwan TFT-LCD 
      industry will be re-shuffled and re-organized to
create more powerful 
      competitiveness.  The consolidation of its kind and
scale in Taiwan will 
      take better advantage of funds and talents and bring
long-term positive 
      contribution to the whole industry.

    - AUO's capacity in area will exceed 19% market share
globally, and 
      immediately make it equivalent to its counterparts in
Korea.  In 
      addition, its consolidated capacity of G5 & G6
fabs will reach No.1 
      position, plus the on-going capacity expansion on new
generation 
      fabrication, which will ensure AUO's leading position
in TFT-LCD  
      Industry.

    - AUO's strong execution after its former merger in
2001 has proved itself 
      a top tier player in TFT-LCD industry.  Also AUO will
add over few years 
      of managerial experience and successful merger
practices, to ease the 
      challenging merger process and upgrade its scale to
global TFT-LCD 
      leader.

    Mr. CC Leung, Quanta's Vice Chairman, noted that this
strategic alliance will strengthen the future collaboration
between AUO/BenQ group and Quanta Group.

    Mr. HB Chen, AUO's President, added that the synergy of
the consolidation would be demonstrated in three dimensions.
 First, the supply chain consolidation will be essential to
the purchase of key components and the close partnership
with supplier.  Secondly, the research and development
consolidation will expand design expertise and solidify a
robust intellectual property portfolio.  Lastly, the
consolidation will leverage mutually complementary product
portfolio of the two companies, especially in NB and TV
applications, to increase a more completed customer
portfolio.

    All of these factors will allow AUO to bring the
strengths of both companies together and raise its
international competitiveness in TFT-LCD industry
characterized by fast development and the growing trend
towards concentration of capital and technology. The merger
is expected to result in a strong long-term positive
contribution to the equity of shareholders of AUO and
Quanta Display Inc.

    ABOUT AU OPTRONICS

    AU Optronics Corp. ("AUO") is the world's
third largest manufacturer* of large-size thin film
transistor liquid crystal display panels
("TFT-LCD"), with approximately 14.2%* of global
market share and generated revenue of NT$217.4billion
(US$6.75 bn)* in 2005.  TFT-LCD technology is currently the
most widely used flat panel display technology.  Targeted
for 40"+ sized LCD TV panels, AUO's next generation
(7.5-Generation ) fabrication facility production is
scheduled for mass production in 4Q 2006.  The Company
currently operates one 6th-generation, three
5th-generation, one 4th-generation, and three
3.5-generation TFT- LCD fabs, in addition to four module
assembly facilities and AUO Technology Center specializing
in new technology platform and new product development. 
AUO is one of few top-tier TFT-LCD manufacturers capable of
offering a wide range of small- to large- size
(1.5"-46") TFT-LCD panels, which enables it to
offer a broad and diversified product portfolio.

    * As shown on DisplaySearch Quarterly Large-Area
TFT-LCD Shipment Report 
      dated Mar 1, 2006.  This data is used as reference
only and AUO does not 
      make any endorsement or representation in connection
therewith. 2005 
      year end revenue converted by an exchange rate of
NTD32.2039:USD1.

    Safe Harbour Notice 

    Except for statements in respect of historical matters,
the statements contained in this Release are
"forward-looking statements" within the meaning
of Section 27A of the U.S. Securities Act of 1933 and
Section 21E of the U.S. Securities Exchange Act of 1934.
These forward-looking statements were based on our
management's expectations, projections and beliefs at the
time regarding matters including, among other things,
future revenues and costs, financial performance,
technology changes, capacity, utilization rates, yields,
process and geographical diversification, future expansion
plans and business strategy. Such forward looking
statements are subject to a number of known and unknown
risks and uncertainties that can cause actual results to
differ materially from those expressed or implied by such
statements, including risks related to the flat panel
display industry, the TFT-LCD market, acceptance and demand
for our products, technological and development risks,
competitive factors, and other risks described in the
section entitled "Risk Factors" in our Form20-F
filed with the United States Securities and Exchange
Commission on June 3, 2005. 

    For more information, please contact:

     Yawen Hsiao
     Corporate Communications Dept.
     AU Optronics Corp.
     No.1, Li-Hsin Road 2, Science-Based Industrial Park,
      Hsinchu City, 300, Taiwan, R.O.C.
     Tel:   +886-3-500-8899 x3211 
     Fax:   +886-3-577-2730     
     Email: yawenhsiao@auo.com  

SOURCE  AU Optronics Corp. 
PR
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