(Feb. 6, 2006, Taipei) SinoPac Securities, a subsidiary of SinoPac Holdings, today held a handover ceremony, between its new and former Presidents. Newly appointed President, Ms. Jenny Chen, was formerly the President of Grand Cathay Securities Investment Trust Co. Ltd. (GCSIT). Her credentials and experience in the financial industry are complete, having been the head of GCSIT's Research and Development department, as well as vice president at Citigroup. During her tenure as General Manager of GCSIT, the company not only enjoyed steady growth in profits, but was also focused on "innovation," providing investors with ever more investment needs. Assets under management topped NTD10 billion, and has the largest client base among the industry.

During today's handover ceremony, Mr. Min-Chu Huang, Chairman of SinoPac Securities, pointed out that SinoPac Securities' after tax EPS last year was NTD0.69, and had an ROE of 4.67%. Although the company's profitability ranked among the top in the industry, but was still far below the Group's projected goal. Mr. Huang expressed that businesses which performed well last year, such as underwriting and the futures market, should continue to do well this year. At the same time, the company will be working hard towards five different directives: 1. Enhance competitiveness, 2. Reduce costs, 3. Develop new financial products, 4. Globalize, and 5. Legal and regulatory compliance. He also hoped that business will be even better this year under Ms. Chen's leadership and guidance.

New President, Ms. Jenny Chen, expressed that SinoPac Securities has a solid foundation with several business items ranked among the top in the industry. Ms. Chen also compared a management team to a band. For a band to have a successful performance, not only does it need to have the expertise, but also the tacit understanding and coordination among its members is essential as well. She took one of her favorite bands, Yanni, as an example. Although the members come from various ethnic backgrounds, but the happy expression on their faces when they perform shows their dedication and harmony, and furthermore, sends the happiness of music to everyone. With this, she encouraged all the managers present that in 2006 everyone should "Be as one and give happily." In addition, Ms. Chen stated that the greatest objective of a professional manager is to help the organization create greater profits, create better ROE, and help colleagues create a bigger platform. She hopes that all her managers had this type of mindset and that everyone will work hard together, bear with each other's misgivings, and achieve even better performance. Aside from this, she also hoped to develop an "innovation" strategy based on the current existing foundation and take SinoPac Securities to another milestone.