News

1.Date of occurrence of the event:2009/10/13

2.Company name:FETL

3.Relationship to the Company (please enter ”head office” or

”affiliate company”):head office

4.Reciprocal shareholding ratios:NA

5.Cause of occurrence:

In the company’s Extraordinary Shareholders’ Meeting held on 13 October

2009, shareholders presented have resolved and approved to rename the

company, from Far Eastern Textile Limited (FETL) to Far Eastern New Century

Corporation (FENC), effective on the same date. Pursuant to the

shareholders’resolution and the “Procedures for Exchange of Securities

Certificates by Listed Companies” prescribed by the Taiwan Stock Exchange

(TWSE), we submit TWSE the application and the plan for exchange of the

company’s share security, and this announcement is made accordingly.

6.Countermeasures:

(1) A total number of 4,661,352,901 FENC common shares, at a par value of

NT$10 per share and representing a total capital of NT$46,613,529,010,

shall be issued for the purpose of the exchange. Each shareholder of

FETL on the record date will be entitled to receive one share of FENC

common share for each FETL share owned. The new shares issued for this

purpose will be delivered by book-entry transfer, and no physical

certificates will be printed. The shareholders’ rights and obligations

of new shares are the same as those of old shares.

(2) Schedule of share security exchange:

i. Final day before closing the book: 19 December 2009.

ii. Closure of the book: 20 December 2009 to 3 January 2010.

iii. Record date of share security exchange: 24 December 2009.

iv. New shares will be listed and traded on 4 January 2010, and old

shares will be de-listed on the same date.

(3) Procedures advised to FETL shareholders

As the said new shares will be delivered by book-entry transfer and no

physical certificates will be printed, each FETL shareholder is advised

to open a central depositary account at his/her brokerage firm at the

earliest convenience, in order to ensure the new shares issued can be

delivered by book-entry transfer system.

Any physical certificates of FETL, held and registered by the existing

shareholders, should be sent to the central depositary account, on or

before 18 December 2009. Any physical certificate of FETL held but

unregistered needs to be registered before being sent to the central

depositary account.

For any reason such registered physical certificates cannot be sent to

the central depositary account, holders can deliver such certificates in

person, after 4 January 2010, to Oriental Securities Corporation,

together with the original stamps, in exchange for the new FENC shares.

The address of Oriental Securities is 3 Fl, No 86, Chongqing South Road,

Section 1, Taipei, Taiwan.

For physical certificates of FETL unable to be registered by holders on

or before 20 December 2009, each holder of such certificates can claim

the new FENC shares in person, after 4 January 2010, at Oriental

Securities Corporation, by delivering the following documents: the said

physical FETL share certificates, the notification of transfer, the

purchase record of the certificates, the number record issued and

evidenced by Central Securities Depositary, personal stamp, and

photocopy of both sides of personal national ID card.

For shareholders whose FETL security certificates already deposited

under the custody of Taiwan Depository and Cleaning Corporation (TDCC),

the new FENC certificates will be delivered automatically by book-entry

on 4 January 2010, when the new shares listed and traded. No action

is required.

7.Any other matters that need to be specified:

The said exchange plan is subject to the approval from regulatory

authorities, and will be implemented only after such approval granted.

Modification to the exchange plan, if any, will be announced by the

company pursuant to relevant regulations.