(July 7, 2004, Taipei) The Board of Directors of SinoPac Holdings (TSE 2890) has concluded today the reallocation of the funding for outdoor arts events to that for restoration aid projects after July 2 flood, as well as inland soil and water conservation. NT$1 million of the funding will go to the relevant accounts of the Ministry of the Interior for governmental post-flood restoration efforts. The other NT$1 million will go to forest plantation programs, responding similar contribution by Chinatimes Foundation for Ho-Shing Village, Chungliao, Nantou County three years ago. The aim is to preserve water resource, minimizing disaster caused by soil erosion as a result of heavy rainfall, securing the homeland of local residents, and therefore inflicting less impact on the environment. By providing assistance to the disaster relief efforts, SinoPac Holdings hopes to make an example so as to enable wider participation of businesses to the post-flood restoration projects.

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