On behalf of our subsidiary Cathay Securities Corp., we announce a change of director

2007-02-27

1.Date of occurrence of the change:2007/03/01 2.Name and resume of the replaced person:C.M. Wu former Chairman of Cathay Securities Corporation 3.Name and resume of the replacement:Jinn-Shing Leou former Chief Auditor of Cathay Financial Holdings Corp. 4.Reason for the change:C.M. Wu resigned for personal reasons 5.Number of shares held by the new director or supervisor at the time of appointment:none 6.Original term (from __________ to __________):2004/04/23~2007/04/22 7.Effective date of the new appointment:2007/03/01 8.Rate of turnover of directors/supervisors of the same term:N.A. 9.Any other matters that need to be specified:none