Exhibit (a)(5)(C)

FOR IMMEDIATE RELEASE

Contacts:
Steven R. Champion, Taiwan Greater
     China Fund, 011-886-2-2715-2988
Joseph P. Doherty, MacKenzie
     Partners, Inc., 212-929-5958
Website: http://www.taiwangreaterchinafund.com

                        [Logo: Taiwan Greater China Fund]

                       TAIWAN GREATER CHINA FUND ANNOUNCES
                        COMMENCEMENT OF SELF-TENDER OFFER

     (New York, New York, August 6, 2004) The Taiwan Greater China Fund
(NYSE: TFC), a diversified closed-end registered investment company listed on
the New York Stock Exchange, announced today that it has commenced a cash tender
offer (the Purchase Offer) to purchase from shareholders up to one-third of the
Fund's outstanding shares at a price of 99% of the Fund's net asset value per
share at the close of business on the expiration date of the Purchase Offer. The
expiration date of the Purchase Offer is September 3, 2004 at 5:00 p.m., New
York City time, unless extended.

     The Purchase Offer is intended to provide the Fund's shareholders with an
alternative source of liquidity and provides a means for shareholders who want
to sell their shares to do so at a price close to net asset value per share. The
Purchase Offer will be made, and shareholders will be notified, in accordance
with the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940.

     The terms and conditions of the Purchase Offer are set forth in the Fund's
Purchase Offer Statement, dated August 6, 2004, and the related Letter of
Transmittal, which are being mailed to shareholders of record of the Fund as of
August 6, 2004, although any shareholder holding the Fund's shares on the
expiration date of the Purchase Offer may participate in the Purchase Offer.
Questions and requests for assistance or for copies of the Purchase Offer
Statement, the Letter of Transmittal and any other Purchase Offer documents
should be directed to the Information Agent for the Purchase Offer, MacKenzie
Partners, Inc., at (800) 322-2885 (toll free).

     The Purchase Offer is not being made to, nor will submissions be accepted
from or on behalf of, holders of shares in any jurisdiction in which making or
accepting the Purchase Offer would violate that jurisdiction's laws.


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     This press release is for informational purposes only and is not an offer
to purchase or the solicitation of an offer to sell any shares of the Fund. An
offer to purchase shares of the Fund is only being made pursuant to the Purchase
Offer Statement and related materials that the Fund is sending to all of its
shareholders. Shareholders should read those materials carefully because they
contain important information, including the various terms and conditions of the
Purchase Offer. The Purchase Offer Statement and related materials are being
made available to all shareholders free of charge. Shareholders also will be
able to obtain the Purchase Offer Statement and related materials with respect
to the Purchase Offer free of charge at the Securities and Exchange Commission's
website at www.sec.gov. In addition, it is possible to obtain the Purchase Offer
Statement and related materials from the Fund at no charge as provided in the
Purchase Offer Statement.

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

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