Announced by Cathay Financial Holdings, on behalf of Cathay Venture Capital Co., Ltd., the institutional director changed its representative.

2006-10-02

1.Date of occurrence of the change:2006/10/02 2.Name and resume of the replaced person:Shun-yu Chuang, Manager of Cathay Life Insurance Co., Ltd. 3.Name and resume of the replacement:Chiu-te Liu, Chairman of Cathay Real Estate Co., Ltd. 4.Reason for the change:The institutional director, Cathay Life Insurance Co., Ltd., changed its representative. 5.Number of shares held by the new director or supervisor at the time of appointment:(Cathay Life Insurance holds) 37,500,000 shares. 6.Original term (From __________ to __________):2004/09/01~2007/08/31 7.Effective date of the new appointment:2006/10/02 8.Rate of change of directors/supervisors of the same term:0% 9.Any other matters that need to be specified:none