Cathay No.1 Real Estate Investment Trust (the Fund) is a Taiwan-based real estate investment trust (REIT) fund. The Fund aims to gain profit through investing in real estates and real estate related rights. The Fund primarily invests in office buildings, department stores and hotels. As of December 31, 2006, the Company had invested in three properties. The Fund is a close-ended fund. The trustee of the Fund is Land Bank and its property manager is Cathy Real Estate Management Corporation.