◆ Rating Results
	◆ Structure of Shareholders

Rating Results

Moody's

Company	Grade	Outlook
Cathay Financial Holdings	A3	Stable
Cathay Life	A1	Stable
Cathay Century Insurance	A2	Stable
Cathay United Bank	A1	Stable

Taiwan Ratings

Company	Grade	Outlook
Cathay Financial Holdings	TwAA+	Stable
Cathay Life	TwAAA	Stable
Cathay Century Insurance	TwAA+	Stable
Cathay United Bank	TwAAA	Stable
Cathay Securities	TwA+	Stable

Standard & Poor's

Company	Grade	Outlook
Cathay Financial Holdings	A-	Stable
Cathay Life	A	Stable
Cathay Century Insurance	A-	Stable
Cathay United Bank	A	Stable