(February 17, 2005, Taipei) SinoPac Holdings' Board (TSE 2890) convened its first meeting for Fiscal Year 2005. During this meeting, the Board ratified various matters, including F/Y 2004 earnings distribution, and announced that the 2005 general meeting for the shareholders will be held on May 10, 2005.

The Board has not made any definitive conclusions on any merger proposals. However, the Board reiterates its determination to continue the process of building shareholder value by integration, and it is actively reviewing its merger options.

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