To announce, on behalf of Cathay Life Insurance Company,the plan of a joint venture life insurance company in Mainland China.

2004-04-27

1.Date of occurrence of the event:2004/04/27 2.Cause of occurrence: On April 27, 2004, Cathay Life Insurance Company and the China Eastern Air Holding Company received permission from the China Insurance Regulatory Commission to set up a joint ventue life insurance company in Shanghai. 3.Countermeasures:N/A 4.Any other matters that need to be specified:The registered capital of the joint venture is RMB 800 million. Each of the joint venture partners will hold half of the shares.