Cathay Consolidated, Inc. announced title and name of the previous position holder: Independent Directors: Shih Sin Chuan, Wu Cunyi, Pan Sian. Directors: George Liu, Syu Guang Huei, Que Qingxian, Stephen Wendell Howard. Resume of the previous position holder: Shih Sin Chuan Independent Directors of Cathay Consolidated, Inc. Wu Cun yi Independent Directors of Cathay Consolidated, Inc. Pan Sian Dean of Taipei Medical University Hospital.

George Liu General Manager of Cathay Consolidated, Inc. Syu Guang Huei Attending physician of Taipei Medical University Hospital. Que Qingxian Independent Directors of Cathay Consolidated, Inc. Stephen Wendell Howard Chairman of Bemis Associates Inc. Title and name of the new position holder: Independent Directors: Shih Sin Chuan, Pan Sian, David Biing. Directors: George Liu, Syu Guang Huei, Joanna Hsiao, Stephen Wendell Howard.

Resume of the new position holder: Shih Sin Chuan Independent Directors of Cathay Consolidated, Inc. Pan Sian Dean of Taipei Medical University Hospital. David Biing General Manager of FORD LIO HO MOTOR CO., LTD. George Liu General Manager of Cathay Consolidated, Inc. Syu Guang Huei Attending physician of Taipei Medical University Hospital. Joanna Hsiao Assistant Vice President of Nam Liong Global Corporation.

Stephen Wendell Howard Chairman of Bemis Associates Inc. Circumstances of change: term expired. Reason for the change: term expired.