(May 4, 2004, Taipei) SinoPac Holdings (TSE 2890) today reports results in April 2004. Monthly earnings after tax exceeded NT$700 million, the historical high among monthly records. Net profit as end of April reached NT$2.455 billion, with EPS of NT$0.69, fulfilling 42% of 2004 forecast.

Paul Lo, President and CEO of SinoPac Holdings, said, “Since the implementation of the new organizational structure in January 2004, SinoPac Holdings coherently integrates the resource of all business units, adopting customer-oriented management infrastructure, and significantly improves operational efficiency. In addition, the collaboration and business development of all four business units, coupled with increasing presence of SinoPac in the Pacific region, have also contributed to the growing profitability. Since January, monthly earnings have been on the rise, and exceeded NT$700 million after tax in April. As the best monthly results ever since SinoPac Holding was founded, it illustrates the effect of the scale of economy as a result of integration within the boundary of SinoPac Holdings.”

The annual profit in 2004 of SinoPac Holdings was NT$4.202 billion, while target for 2004 is NT$5.788 billion, almost 40% growth from the previous year. At the end of April, 2004, 42% of the target for profit has been reached, with promising prospects ahead.

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