The Central Bank of China

PRESS RELEASE Release Date: February 15, 2003




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Important Measures in January, 2003


In line with the policy of liberalization and internationalization, and for further development of foreign exchange business, the Central Bank of China (CBC) took the following measures in January 2003:


1.Approved Cathay United Bank to operate Phone Banking business involving foreign currencies.

2.Approved the following Authorized Banks to operate derivates business:

(1)Taishin International Bank operates Foreign Currency Structured Deposits business which is composed of Foreign Currency Time Deposit and Foreign Currency Equity Options business.

(2)Hsinchu Bank operates NTD/FCY options business.

(3)Chinatrust Commercial Bank operates FCY Swaption business.

(4)Taiwan Business Bank operates Foreign Currency Options business

(5)Sumitomo Mitsui Banking Corporation operates Foreign Currency Options business