Announced by Cathay Financial Holdings, on behalf of Cathay Venture Capital Co., Ltd., the board of directors elected a new chairman.

2006-10-02

1.Date of the board of directors resolution:2006/10/02 2.Name and resume of the replaced chairman or president:Shang-chi Liu, Senior Vice President of Cathay Life Insurance Co., Ltd. 3.Name and resume of the new chairman or president:Chiu-te Liu, Ex-chairman of Cathay Real Estate Co., Ltd. 4.Reason for the change:Shang-chi Liu resigned for being occupied with other work loading. 5.Effective date of the new appointment:2006/10/02 6.Any other matters that need to be specified:none