P R E S S   R E L E A S E

        A distinguished banker, a prominent community leader and an alumnus of The Chinese University of Hong Kong, Mr Cheng Hoi Chuen graduated from the University with a Bachelor of Social Science degree and obtained a Master of Philosophy in Economics from The University of Auckland in New Zealand.

        Currently, Mr Cheng is Vice-Chairman and Chief Executive of Hang Seng Bank Limited, the largest bank in Asia, excluding Japan, by market capitalization and Hong Kong's second-largest listed bank.  He is also an Executive Director of The Hongkong and Shanghai Banking Corporation Limited, Chairman of Hang Seng Life Limited, and a Director of Great Eagle Holdings Limited and the Kowloon-Canton Railway Corporation.  Mr Cheng joined the Group Finances Department of The Hongkong and Shanghai Banking Corporation Limited in 1978, and has since served as Chief Economist, Senior Manager for Economic and Strategic Research, Chief Financial Officer, and General Manager.  In 1995, at the age of 47, he made history when he became the first - and to this day the only - Chinese to be appointed an Executive Director of The Hongkong and Shanghai Banking Corporation Limited.  From 1989 to 1991, he was seconded to the Hong Kong Government's Central Policy Unit to advise the Government on its policies. 
 
        Mr Cheng has been enthusiastic in public service.  Over the years, he has taken on many public responsibilities, and has served as a Member of the Legislative Council (1991-1995), Member of the Executive Council (1995-1997), and a Hong Kong Affairs Adviser to the People’s Republic of China (1994-1997).  He is Chairman of the Process Review Panel for the Securities and Futures Commission, and the Standing Committee on Directorate Salaries and Conditions of Service of the Government of the Hong Kong Special Administrative Region.  He is also a Vice President and Chairman of the Hong Kong Institute of Bankers and a Member of the Beijing Municipal Committee of the Chinese People's Political Consultative Conference, the Advisory Committee of the HKSAR Government Land Fund, the Long Term Housing Strategy Advisory Committee, the Standing Committee on Judicial Salaries and Conditions of Service, the Independent Commission on Remuneration for Members of the Executive Council and the Legislature of the HKSAR, and the Hong Kong Port and Maritime Board.  Mr Cheng is Chairman of the Hang Seng School of Commerce, Chairman of the Board of Trustees of the Lord Wilson Heritage Trust, and a Member of the Board of the Community Chest of Hong Kong.

        Mr Cheng's contributions are extensively recognized.  He is a non-official Justice of the Peace and was appointed an Officer of the Most Excellent Order of the British Empire in 1994.  He was appointed a Visiting Professor of Zhejiang University and Shenzhen University in 2000 and 2001 respectively, and an Honorary Professor of Southwestern University of Finance and Economics on the Mainland in 2000.

        Mr Cheng has maintained a close relationship with his alma mater.  He has served on the Board of Trustees of New Asia College since 1998.  Both the Chinese University and New Asia College have benefited enormously from Mr Cheng's  valuable effort, time and expertise.