Shyue-ching Lu resigns as President and CEO of Chunghwa Telecom

January 8, 2004

1 Min Read

TAIPEI, Taiwan -- Chunghwa Telecom Co., Ltd (Chunghwa Telecom) ("the Company") (NYSE: CHT; TAIEX: 2412), would like to clarify the following regarding the resignation tendered by the President and CEO of the Company:

When Mr. Shyue-ching Lu, President and CEO of Chunghwa Telecom attended the Science, Technology and Information Commission meeting of the Legislative Yuan on Monday, January 5, 2004, Mr. Lu was criticized by a council member who said that he has stayed in his position for too long. Mr. Lu subsequently tendered his resignation to Chairman Ho Chen Tan. Chairman Ho Chen regarded it as a stand-alone incident and rejected Mr. Lu's resignation. He tried to convince President Lu to stay because of his many accomplishments in the past. He also allowed Mr. Lu a one-week vacation and hoped that he will continue his contribution to Chunghwa after his return.

The Company also would like to clarify that Chairman Ho Chen did not either expressly or indirectly ask President Lu to resign one month ago. He also never discussed the replacement of President Lu with the ten Vice Presidents. As such, no successor was discussed.

Despite fierce market competition, Chunghwa Telecom has exceeded 8 million mobile subscribers and reached 1.93 million ADSL HiNet customers. These achievements were obtained as a result of the great efforts of its staff under the leadership of the Chairman and President. Furthermore, the success of the ADR listing was a result of the strong performance by the management team and was also well recognized by the global financial community.

Chunghwa Telecom Co. Ltd.

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