1934 Act Registration No. 1-14700

                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM 6-K

                        REPORT OF FOREIGN PRIVATE ISSUER
                      PURSUANT TO RULE 13a-16 OR 15d-16 OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                           For the month of June 2003

                 Taiwan Semiconductor Manufacturing Company Ltd.
                 (Translation of Registrant's Name Into English)

                             No.121 Park Avenue III
                          Science-Based Industrial Park
                                Hsin-chu, Taiwan
                    (Address of Principal Executive Offices)

            (Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.)

            Form 20-F    X                           Form 40-F _______
                      -------

            (Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)

            Yes _______                                    No    X
                                                              -------

(If "Yes" is marked, indicated below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82: _______.)



                                   SIGNATURES

            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.

                                Taiwan Semiconductor Manufacturing Company Ltd.


Date: June 3, 2003     By  /s/  Harvey Chang
                         --------------------------------------
                                 Harvey Chang
                                 Senior Vice President & Chief Financial Officer



                TSMC Shareholders Approved NT$0.80 Stock Dividend

Hsinchu, Taiwan, June 3, 2003 - Taiwan Semiconductor Manufacturing Company Ltd.
("TSMC" or "the Company") (TAIEX: 2330, NYSE: TSM), today held a shareholders'
meeting at which the shareholders approved the distribution of a stock dividend
of NT$0.80 per Common Share. Each shareholder will be entitled to receive a
stock dividend of 80 shares for each 1,000 shares held by such shareholder.

Mr. Harvey Chang, TSMC spokesperson and senior vice president, stated that other
major conclusions of this shareholders' meeting are as follows:

1.    Shareholders approved financial statements for 2002. Net sales for 2002
      were NT$160,961,329 thousand, and net income was NT$ 21,610,291 thousand,
      with earnings per share of NT$1.14.

2.    On November 29, 2000, TSMC issued 1,300,000,000 Preferred A shares, which
      matured on May 28, 2003. TSMC has redeemed, in accordance with its
      Articles of Incorporation, all the 1,300,000,000 Preferred A shares at par
      value of NT$10 per share, cancelled the above shares, and reduced the
      paid-in capital by NT$13,000,000,000.

3.    Shareholders approved the capitalization of 2002 dividends and employee
      profit sharing. Subsequent to this capital increase, the paid-in capital
      of TSMC shall become NT$202,666,189,840, totaling 20,266,618,984 common
      shares issued.

4.    TSMC completed the re-election of Directors and Supervisors of the Ninth
      Term. The nine Directors are Morris Chang, Jan Lobbezoo (Representative of
      Koninklijke Philips Electronics N.V.), F.C. Tseng, Stan Shih, Chintay Shih
      (Representative of Development Fund, Executive Yuan), Peter L. Bonfield,
      Lester C. Thurow, Jaap van Oost (Representative Koninklijke of Philips
      Electronics N.V.) and Rick Tsai. The three Supervisors are Robbert Brakel
      (Representative of Koninklijke Philips Electronics N.V.), Susan Chang
      (Representative of Development Fund, Executive Yuan), and Michael E.
      Porter. Among the nine Directors, independent directors account for three
      seats, increased from two previously. TSMC management team and
      representatives of Juridical Person Shareholders also count for three
      seats respectively. The constitution of TSMC Directors represents further
      commitment to the spirit of corporate governance.

                                  #   #   #



TSMC Spokesperson:
Mr. Harvey Chang
Senior Vice President
Tel: 886-3-563-6688 Ext: 2075

For further information, please contact:

                                                            
Mr. J.H. Tzeng                    Mr. Jesse Chou                  Ms. Shan-Shan Guo
PR Department Manager, TSMC       PR Manager, TSMC                PR Manager, TSMC
Tel: 886-3-666-5028(O)            Tel:886-3-666-5029(O)           Tel:886-3-666-5033(O)
     886-928-882-607(Mobile)          886-932-113-258(Mobile)         886-939-059-246 (Mobile)
Fax: 886-3-567-0121               Fax:03-5670121                  Fax:03-5670121
E-mail: jhtzeng@tsmc.com.tw       E-Mail: jhchoua@tsmc.com.tw     Email: ssguo@tsmc.com.tw





                  TSMC Board of Directors Unanimously Re-elects
                      Dr. Morris Chang as Chairman of TSMC

Science-Based Industrial Park, Hsin-Chu, Taiwan, June 3, 2003 - Taiwan
Semiconductor Manufacturing Company Ltd. (TSMC) (NYSE: TSM) today held the first
meeting of the Board of Directors of the Ninth Term, at which the Board
unanimously re-elected Dr. Morris Chang as Chairman of TSMC.

TSMC Spokesperson Mr. Harvey Chang noted that, at its meeting, the Board of
Directors also:

1.    Authorized the Chairman to determine the record date for distribution of
      stock dividends to common share holders as approved at the 2003 Regular
      Shareholders Meeting.

2.    Approved the change of TSMC's registered address from "No. 121, Park
      Avenue 3, Science-Based Industrial Park, Hsin-Chu, Taiwan, ROC" to "No. 8,
      Li-Hsin Road 6, Science-Based Industrial Park, Hsin-Chu, Taiwan, ROC".

3.    Approved the establishment of a Compensation Committee of the Board of
      Directors to execute corporate governance improvements.

4.    Approved TSMC's sponsorship of the issuance of American Depository
      Receipts ("ADRs") by the Development Fund and certain other shareholders
      to dispose of up to 450,000,000 TSMC common shares in the form of ADRs.

                                  #   #   #

TSMC Spokesperson:
Mr. Harvey Chang
Senior Vice President
Tel: 886-3-563-6688 Ext: 2075


For further information, please contact:

                                                          
Mr. J.H. Tzeng                  Mr. Jesse Chou                  Ms. Shan-Shan Guo
PR Department Manager, TSMC     PR Manager, TSMC                PR Manager, TSMC
Tel: 886-3-666-5028(O)          Tel:886-3-666-5029(O)           Tel:886-3-666-5033(O)
     886-928-882-607(Mobile)        886-932-113-258(Mobile)         886-939-059-246 (Mobile)
Fax: 886-3-567-0121             Fax:03-5670121                  Fax:03-5670121
E-mail: jhtzeng@tsmc.com.tw     E-Mail: jhchoua@tsmc.com.tw     Email: ssguo@tsmc.com.tw