The announcement of resignation of Mr.Mu-Tsai Chen,designated board director of our subsidiary of Cathay United Bank.

2004-05-07

1.Date of occurrence of the change:2004/05/07 2.Name and resume of the replaced person:Mu-Tsai Chen Chairman,China Development Financial Holding Corporation 3.Name and resume of the replacement:none 4.Reason for the change:The change of position. 5.Number of shares held by the new director or supervisor at the time of appointment:none 6.Original term (From __________ to __________):2002/12/18~2004/05/21 7.Effective date of the new appointment:none 8.Rate of change of directors/supervisors of the same term:N. A. 9.Any other matters that need to be specified:none