Cathay Life Insurance changes its accouting firm and CPA

2004-04-23

1.Date of occurrence of the event: 2004/04/23 2.Name of the original accounting firm and name of the original CPA: Name of the original accounting firm : BDO Taiwan Union & Co. Name of the original CPA: Roger Lai & Daniel Hsu 3.Name of the new accounting firm and name of the new CPA: Name of the new accounting firm : Diwan, Ernst & Young Name of the new CPA: Roger Lai & Daniel Hsu 4.Reason for the replacement: In order to step onto an international platform and fully utilize the resources of a global accounting firm, we will change our accounting firm from BDO Taiwan Union & Co. (Roger Lai & Daniel Hsu, CPA) to Diwan, Ernst & Young (Roger Lai & Daniel Hsu, CPA) starting with the auditing report of the first half of 2004. Members of the BDO Taiwan Union & Co. team that audited our financial statements have also joined Diwan, Ernst & Young, and will continue to serve as our auditors. 5.Was there any divergence in opinion between the Company and the original CPA concerning accounting principles or audit matters?(If so, please specify.) : None 6.Any other matters that need to be specified: None