Qualification of Independent Directors

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一、Method of Nomination and Election
 
The Company's Articles of Incorporation stipulate that the Company's Board of Directors be made up of seven to eleven members, of which the number of Independent Directors shall not be less than three. The nomination system shall be adopted and the candidates shall be elected at the shareholders' meeting in accordance with regulations. The Independent Directors' professional qualifications, shareholding and part-time restrictions, determination of independence, nomination and selection methods, and other matters of compliance shall be subject to the relevant regulations of the competent securities authorities.
A total of nine candidates, including three Independent Directors, shall be nominated for the 6th appointed Board of Directors of the Company, and in accordance with the provisions of Article 192-1 of the Company Law, the nomination method for the Directors shall be stated in the notice of the general meeting of shareholders. Shareholders who hold more than one-hundredth of the total number of shares can submit a list of Director candidates to the company in writing, and the number of nominees shall not exceed the number of directors to be selected.
 
二、Nomination Process
 
During the nomination of Director candidates, no list of candidates for Independent Directors was submitted by shareholders holding more than one percent of the shares. The Board of Directors then nominated, reviewed, and approved of Mr. SCHIVE Chi, Mr. James J. SHEU, and Mr. TSAI Ying-Yi as candidates for the 6th Independent Director positions at the 3rd and 4th meetings of the 5th appointed Board of Directors in 2006.
 
三、Candidate Information
 
Number Name Education Signif icant Experiences Shares Owned
1. SCHIVE Chi

Ph. D. ,Case Western Reserve University

Master degree in Economics,National Taiwan University

Bachelor of Economics,National Taiwan University

Independent Director of SinoPac Holdings
Independent Director of SinoPac Securities Corp.
Adjunct Professor, National Taiwan University
Chair Professor,Shih Hsin University
Chair Professor,Soochow University
Minister without Portfolio, Executive Yuan
Chairman of Taiwan Stock Exchange Corporation
Premier of Taiwan Academy of Banking and Finance
Deputy Minister of Council for Economic Planning and Development, Executive Yuan
Chair, Department of Economics, National Taiwan University
Dean of School of Management at National Central University
Professor and Director of Graduate Institute of Industrial Economics at National Central University
0
2. James J. SHEU MBA,The Wharton School of the University of Pennsylvania,USAMBA,The Wharton School of the University of Pennsylvania,USA Independent Director of SinoPac Holdings
Independent Director of Bank SinoPac
President of Chinatrust Financial Holding Co., Ltd.
Chief Risk Officer of Chinatrust Financial Holding Co., Ltd.
0
3. TSAI Ying-Yi Ph. D. in Economics,University of Essex, UK Independent Director of SinoPac Holdings
Independent Director of Bank SinoPac
Independent Director of SinoPac Securities Corp.
Associate Professor,Department of Applied Economics, National University of Kaohsiung
Chair, Department of Applied Economics, National University of Kaohsiung
Visiting Scholar, Research Center for Humanities and Social Sciences (RCHSS), Academic Sinica
Visiting Researcher, Asian Development Bank Institute, Tokyo, Japan
Selected Participant, Cambridge Advanced Programme on Rethinking Development Economics (CAPORDE), U.K.
Visiting Scholar, American Studies Summer Institute, Fulbright Foundation, U.S.A.
Associate Research Fellow, Business Department, Development Fund, Executive Yuan
0
 
四、Election Results
 
Title Elected person
Independent Director SCHIVE Chi
Independent Director James J. SHEU
Independent Director TSAI Ying-Yi