Cathay Pacific Airways Limited

FOR IMMEDIATE RELEASE 21st November 2003

Cathay Pacific Announces Staff Payments

Cathay Pacific Airways today informed staff that, after a particularly difficult year for the Company and Hong Kong, the Company will pay every eligible Hong Kong-based employee a discretionary year-end bonus of half a month's salary or HK$7,500, whichever amount is the greater.

In addition, the Company will pay a special ex gratia amount to all employees who agreed to assist the Company earlier this year by means of joining the Special Leave Scheme. This payment, made in appreciation of the support given to the Company, will be approximately equivalent to the amount forgone by virtue of joining the scheme, up to a maximum of approximately three weeks' salary.

Source: Cathay Pacific Airways Limited
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