Since its incorporation in Hong Kong in 1918, The Bank of East Asia ("BEA") has dedicated itself to serving the people of Hong Kong, as well as providing business and personal banking services in China and overseas. BEA is the largest independent local bank in Hong Kong, with total assets of HK$185 billion (US$23.7 billion) as of 31 December 2002. BEA is listed on the Stock Exchange of Hong Kong and is one of the constituent stocks of the Hang Seng Index. In 1995, BEA acquired United Chinese Bank, which merged with the Bank on 27 August 2001. First Pacific Bank was acquired by the Bank in December 2000 and the merger was completed on 1 April 2002. The Bank now operates a total of 105 branches in Hong Kong with over 3,300 staff. The Group employs about 5,000 staff worldwide. In December 2002, BEA was named one of the top 12 Best in Corporate Governance in Hong Kong in a poll conducted by The Asset Benchmark Survey under the leading Asian finance magazine. This award underlines the Bank's position as one of the most respected financial institutions in Hong Kong. Services: BEA offers a full range of wholesale and retail banking services through its corporate banking, personal banking, investment banking and China services units. Products and services range from deposit-taking, foreign currency savings, premium banking services, mortgage loans, consumer loans, credit cards, Cyberbanking, Mandatory Provident Fund services, trade finance, syndication loans, remittances and foreign exhange margin trading. The Bank will continue to enhance its position in Hong Kong, China and around the world.