The announcement of the change of the directors of Cathay Capital Management Co., Ltd., subsidiary of the company.

2008-03-19

1.Date of occurrence of the change:2008/03/19 2.Name and resume of the replaced person:None 3.Name and resume of the replacement: Wei-Chi Li, Financial Analysis Manager of Cathay Life Insurance Co., Ltd. Ching-Song Tsang, General Manager of Cathay Capital Management Co., Ltd. 4.Reason for the change:Assignment of directors 5.Number of shares held by the new director or supervisor at the time of appointment:1,000,000 shares. 6.Original term (from __________ to __________):2008/03/19~2010/08/21 7.Effective date of the new appointment:2008/03/19 8.Rate of turnover of directors/supervisors of the same term:N.A. 9.Any other matters that need to be specified:none