Exhibit 99.1


Cathay Bancorp, Inc. and GBC Bancorp Announce Election Deadline In Connection
With Pending Merger


PR Newswire -- September 3, 2003


LOS ANGELES, Sept. 3 /PRNewswire-FirstCall/ -- In connection with the
pending merger between Cathay Bancorp, Inc. (Nasdaq: CATY) and GBC Bancorp
(Nasdaq: GBCB), as previously announced, GBC Bancorp shareholders wishing to
make an election to receive the merger consideration in cash or shares of
Cathay Bancorp common stock (or a combination of cash and stock), subject to
proration, must deliver to American Stock Transfer, the Exchange Agent,
properly completed Letters of Transmittal/Election Forms, together with their
stock certificates or properly completed notices of guaranteed delivery, by
5:00 P.M., Eastern Time, on Tuesday, September 23, 2002, the election
deadline. The Letters of Transmittal/Election Forms were mailed yesterday to
GBC Bancorp shareholders.


GBC Bancorp shareholders who do not properly deliver such documentation to
American Stock Transfer (at the address specified in the Letter of
Transmittal/Election Form) prior to the election deadline will not be able to
elect the form of merger consideration they would like to receive. The amount
of cash and/or Cathay Bancorp stock that such non-electing shareholders will
receive will then depend primarily on the elections made by the other GBC
Bancorp shareholders.


GBC Bancorp shareholders may obtain additional copies of the Letter of
Transmittal/Election Form by contacting the Exchange Agent at 1-800-937-5449.


Prior to the election deadline, GBC Bancorp shareholders who have made
elections may change their elections by submitting to the Exchange Agent a
revised Letter of Transmittal/Election Form, properly completed and signed,
that is received by the Exchange Agent prior to the election deadline and by
otherwise timely complying with the other conditions for valid elections set
forth in the Letter of Transmittal/Election Form. GBC Bancorp shareholders
who have made elections and submitted their share certificates may at any time
prior to the election deadline revoke their elections and withdraw their share
certificates deposited with the Exchange Agent by written notice to the
Exchange Agent received prior to the election deadline. After the election
deadline, GBC Bancorp shareholders may not change or revoke their elections
and may not withdraw their share certificates unless the merger agreement is
terminated.


Cathay Bancorp and GBC Bancorp are working to complete the merger as
promptly as possible. Completion of the merger is subject to obtaining
stockholder and regulatory approvals and the fulfillment of other conditions
set forth in the merger agreement.



ABOUT CATHAY BANCORP AND GBC BANCORP


Cathay Bancorp, Inc. is the one-bank holding company for Cathay Bank, a
California state-chartered bank. Founded in 1962, Cathay Bank offers a wide
range of financial services. Cathay Bank currently operates 12 branches in
Southern California, eight branches in Northern California, three branches in
New York State, one in Houston, Texas, and representative offices in Hong Kong
and Shanghai, China. In addition, Cathay Bank's subsidiary, Cathay Investment
Company, maintains an office in Taipei. Cathay Bank's website is found at
http://www.cathaybank.com .


GBC Bancorp is a one-bank holding company for General Bank, a California
state-chartered bank that commenced operations in March 1980. General Bank
serves individuals and small to medium-sized businesses through 18 branch
offices located in the greater Los Angeles, San Diego, and Silicon Valley
areas of California, a branch office in the state of Washington and two
branches in Massachusetts. In addition, the Bank's subsidiary, GBC Investment
& Consulting Company, Inc., maintains an office in Taipei. GBC Bancorp's
website is found at http://www.generalbank.com .



FORWARD-LOOKING STATEMENTS AND OTHER NOTICES


Statements made in this press release, other than statements of historical
fact, are forward-looking statements within the meaning of the applicable
provisions of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements may include, but are not limited to, such words as
"believes," "expects," "anticipates," "intends," "plans," "estimates," "may,"
"will," "should," "could," "predicts," "potential," "continue," or the
negative of such terms and other comparable terminology or similar
expressions. Forward-looking statements are not guarantees. They involve
known and unknown risks, uncertainties and other factors that may cause the
actual results, performance, or achievements, of both companies to be
materially different from any future results, performance, or achievements,
expressed or implied by such forward-looking statements. Risks and
uncertainties that could cause actual results to differ materially from such
forward-looking statements include, but are not limited to, factors discussed
from time to time in reports filed by Cathay Bancorp, Inc. and GBC Bancorp
with the Securities and Exchange Commission (the "SEC"). The forward-looking
statements contained in this press release are made as of the date hereof and
Cathay Bancorp, Inc. and GBC Bancorp do not assume any obligation to update
the reasons why actual results could differ materially from those projected in
the forward-looking statements.


In connection with the proposed merger of Cathay Bancorp, Inc. with GBC
Bancorp, Cathay Bancorp, Inc. has filed a Registration Statement on Form S-4
with the SEC (which has been declared effective) and will file certain other
materials with the SEC from time to time. Because those documents will
contain important information, you are urged to read them when they become
available. When filed with the SEC, they will be available for free on the
SEC's website at http://www.sec.gov .



Cathay Bancorp, Inc., GBC Bancorp and their respective directors and
executive officers may be deemed to be participants in the solicitation of
proxies from the security holders of Cathay Bancorp, Inc. and GBC Bancorp in
connection with the proposed merger. Information about the directors and
executive officers of Cathay Bancorp, Inc. and their ownership in Cathay
Bancorp, Inc. stock can be found in the Registration Statement on Form S-4
filed with the SEC and Cathay Bancorp, Inc.'s proxy statement for its 2003
annual meeting of stockholders. Information about the directors and executive
officers of GBC Bancorp and their ownership in GBC Bancorp stock can be found
in the Registration Statement on Form S-4 filed with the SEC and GBC Bancorp's
proxy statement for its 2003 annual meeting of shareholders.



Cathay Bancorp, Inc.'s and GBC Bancorp's filings with the SEC are
available to the public from commercial document retrieval services and at the
website maintained by the SEC at http://www.sec.gov . In addition, requests
for documents relating to Cathay Bancorp, Inc. should be directed to Cathay
Bancorp, Inc., 777 North Broadway, Los Angeles, CA 90012, Attention: Investor
Relations (213) 625-4749. Requests for documents relating to GBC Bancorp
should be directed to GBC Bancorp, 800 West Sixth Street, 15th Floor, Los
Angeles, CA 90017, Attention: Investor Relations (213) 972-4293.



SOURCE Cathay Bancorp, Inc.; GBC Bancorp
-0- 09/03/2003
/CONTACT: Cathay Bancorp, Inc., Investor Relations, +1-213-625-4749; or
GBC Bancorp, Investor Relations, +1-213-972-4293/
/Web site: http://www.generalbank.com /
/Web site: http://www.cathaybank.com /
(CATY GBCB)

CO: Cathay Bancorp, Inc.; GBC Bancorp
ST: California
IN: FIN
SU: TNM