(Jan. 24, 2006, Taipei) FinanceAsia, the international renowned financial publication, hosted a gala dinner on January 20th, to honor the winners of the "FinanceAsia 10th Annual Achievement Awards 2005". The merger of SinoPac Financial Holdings & International Bank of Taipei (IBT) won the title of 「Best Taiwan Deal 2005」. Mr. Paul C. Lo, CEO and President of SinoPac Holdings, along with Mr. Henry Lin, Manager of IBT, Hong Kong Branch, and Mr. Peter Ting, Manager of Bank SinoPac, Hong Kong Branch attended the award presentation ceremony.

According to FinanceAsia, the consolidation of Taiwan's banking sector is necessary but it is not happening fast enough. The USD 1.548 billion worth merger between SinoPac Holdings & International Bank of Taipei, is the first merger of equal in Taiwan. Mr. Lo said, "We are very glad that the consolidation of SinoPac Holdings & International Bank of Taipei is recognized by the international financial media. The case is a benchmark deal as it is the first successful merger of equal in Taiwan. After International Bank of Taipei joins SinoPac Holdings, it enlarges our scale of operation and gives us the largest branch network in the Greater Taipei area. We will enhance the level of our corporate governance, further increase our profitability, and maintain our outstanding quality of asset to create the best benefits for our shareholders, clients, and employees. "