Government-linked banks to solicit investors from U.S. & Europe in March

Taipei, Jan. 28, 2005 (CENS)--The Ministry of Finance (MOF) and the Financial Supervisory Commission (FSC) are reportedly to lead a group of representatives from eight government-linked financial institutions to the United States and Europe early in March to solicit possible investors there.

The delegation will include Mega Financial Holding Co., First Financial Holding Co., Hua Nan Financial Holding Co., Bank of Taiwan, Land Bank of Taiwan, Taiwan Cooperative Bank, Taiwan Business Bank, and Central Trust of China. The prospective eight-day trip will mainly focus on New York of the U.S. and London of the United Kingdom, the world's two key financial centers.

FSC officials said that the trip is designed to help domestic banks release their stock overseas and make them become more international. Last year Land Bank and Central Trust planned to release 23% and 25% of their shares, respectively, but the two banks may adjust the percentage this year since the Legislative Yuan boycotted the budget for the stock-releasing plan. Nevertheless, First will stick to its decision of releasing a 30% stake to foreign investors this.

Shares to be released by eight government-linked financial institutions
Financial institutions	Government shareholdings	Shares to be released for 2005
First	31.45%	Undecided
Hua Nan	23.4%	Undecided
Mega	13.29%	Undecided
Taiwan Business Bank	32.32%	5%-10%, initially
Taiwan Cooperative Bank	60%	13.8%
Bank of Taiwan	100%	Privatization first
Land Bank of Taiwan	100%	23%, initially
Central Trust	100%	25%, initially

Source: FSC