Ronny Tang - Director‧Securities and Futures joined Core Pacific - Yamaichi in 1998, shortly after the acquisition of Japan's Yamaichi Hong Kong operation, to establish our retail branch network. He then built up and heads the e-Financial Services, an e-commerce arm of Core Pacific - Yamaichi in 2000. Besides in-charging of our Corporate Communication and Customer Services Department, Mr. Tang is currently spear-heading the Securities and Futures Operation of the Company. Being our Group Company Secretary serving the Board since year 2000, Mr. Tang also has extensive experience in corporate planning, project management, treasury management and accountancy. He had been working with Coopers & Lybrand in the U.K. for many years, served the special project team in corporate floatation and privatisation. Prior to joining us, he was the Group Financial Controller of a top tier financial services group, with major focus in corporate planning and business development. Mr. Tang was awarded an honour degree by the University of Birmingham (U.K.) and held fellowship to various professional institutions both in the U.K. and Canada in the field of management, finance and accountancy.

Freda Chan - Head of Debt Instruments, graduated from the International Christian University of Tokyo with a degree in Business Administration and Economics studies. Ms. Chan has more than 10 years experience in the fixed income market. After graduation, she started the fixed income profession as an analyst with Daiwa Securities' head-office in Tokyo. She was the Senior Securities Trader in the Industrial Bank of Japan prior to joining ex-Yamaichi in 1994. She headed the fixed income team of Core Pacific - Yamaichi since 1998.

Shih Hsuan Hsia - Vice Director, of Core Pacific-Yamaichi's Beijing Office, is an Administrative Master of Taiwan National Cheng Kung University (NCKU), and supervises the Hong Kong security and investment bank service within the northern and north-eastern areas of the Greater China region. Mr. Hsia joined the underwriting department of Taiwan Core Pacific in 1993, and was appointed to Core Pacific-Yamaichi in 1999. In this six-year period, he qualified as a Taiwan Security Senior Trader, and was an instructor in the Finance Department of Shih Chien University. Mr. Hsia has been responsible for the successful listing of around ten enterprises from Taiwan and the PRC. He specializes in the integrative programming of listings, implementation, and business development analysis.