Far East National Bank

Immediate Release

May 24, 2002

FAR EAST NATIONAL BANK TO OPEN BRANCH IN OGAWA PLAZA

OAKLAND, CA , May 24, 2002 - Far East National Bank NA (FENB) has scheduled the opening of its full service branch in the Wilson Building at 1423 Broadway (150 Frank H. Ogawa Plaza) in late July 2002. The 10-year lease provides the bank with a 4,000 square foot space fronting both Broadway and Ogawa Plaza.

Founded in 1974, Far East has total assets in excess of $1.2 billion and is owned by Bank SinoPac, headquartered in Taipei, Taiwan. Bank SinoPac has in excess of $12 billion in total assets and is part of SinoPac Holdings, having a net worth of $1.2 billion. Bank SinoPac has been rated the #1 commercial bank in Asia by Asia Money. The bank prides itself on providing commercial banking services with a personal banking environment. It not only focuses on supporting local communities, but also facilitates financial services between California, Taiwan, Hong Kong China and Vietnam.

"Far East National Bank is the latest business to discover that downtown Oakland is an ideal location," stated Oakland Mayor Jerry Brown. "Their expertise in international trade and investment will be an asset to Oakland businesses. Headquartered in Los Angeles, Far East National Bank first expanded to San Francisco in 1987 and to Silicon Valley in 1998 by establishing branches in San Jose, Fremont and Cupertino."

The Oakland City Center Branch will spearhead the expansion of FENB in the East Bay, which offers great growth potential for the Bank target market in the Bay Area. "We selected Oakland as a base of operation in the East Bay due to its progressive 'can do' environment, as well as the strategic geographical location," said FENB President Robert Oehler. "We intend to become a valued community and business partner by meeting the needs of Oakland's customers, focusing on providing both local and international banking services."

Under Bank SinoPac's ownership, FENB is part of one of the largest non-government owned Taiwan-based financial institutions. Recognized for its expertise in Pacific Rim commerce, FENB was the first Chinese American bank formed in the United States under the national banking charter. FENB has a Representative Office in Beijing and a special strategic relationship with First Sino Bank, headquartered in Shanghai. FENB and the Bank SinoPac Group are uniquely positioned to deliver CrossPacific Financial Services - Your Key to the Pacific Rim.

Far East National Bank Contact:
Kenny Hsu
(213) 687-1349

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