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

2008-04-15

1.Date of occurrence of the change:2008/04/15 2.Name and resume of the replaced person:David Wang former Vice President of Cathay Securities Corp. 3.Name and resume of the replacement:none 4.Reason for the change:David Wang 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 __________):2007/07/03~2010/07/02 7.Effective date of the new appointment:none 8.Rate of turnover of directors/supervisors of the same term:N.A. 9.Any other matters that need to be specified:none