Exhibit 99.1

     CATHAY GENERAL BANCORP AND CATHAY BANK DIRECTOR WING K. FAT PASSES AWAY

     LOS ANGELES, Feb. 28 /PRNewswire-FirstCall/ -- Cathay General Bancorp
(Nasdaq: CATY) announced today that Mr. Wing K. Fat, a Director of Cathay
General Bancorp, died on February 25, 2005, at the age 78. Mr. Fat joined the
Board in 1990 when it was first established and has also been a director of
Cathay Bank since 1972.

     Dunson K. Cheng, Chairman and President of Cathay General Bancorp stated:
"It is with deep sorrow that we received notification of Wing's passing. During
his long and distinguished service as a director, Wing oversaw many of the
developments that made our company what it is today. He was respected and liked
by all who knew him. He will be greatly missed. The directors and employees of
Cathay General Bancorp and Cathay Bank extend their sincere condolences to his
wife and their children and family."

     ABOUT CATHAY GENERAL BANCORP
     Cathay General Bancorp is the holding company for Cathay Bank, a California
state-chartered bank. Cathay Bank's website is found at
http://www.cathaybank.com/.

SOURCE  Cathay General Bancorp
     -0-                             02/28/2005
     /CONTACT:  Monica Chen of Cathay General Bancorp, +1-213-625-4749/
     /Web site:  http://www.cathaybank.com//
     (CATY)