20 November 2012 Ms. Janet A. Encarnacion Head, Disclosure Department Philippine Stock Exchange 3/F PSE Plaza Ayala Triangle Plaza Ayala Ave., Makati City Dear Ms. Encarnacion: Pursuant to the approval by the stockholders on the then proposed amendment of the Company's Articles of Incorporation and By-Laws last 08 September 2012, we would like to submit the certifications of approval issued by the Commission authorizing and approving the amendment of the Article II on Secondary Purpose and Article VI on the composition of the Board of Directors of the Company's Articles of Incorporation as well as the corresponding provision in the Company's By-laws particularly Section 1(a) on the composition of the Board of Directors. This disclosure is made in compliance with the Revised Disclosure Rules. Thank you and warm regards. Very truly yours, Atty. Socorro Ermac Cabreros Corporate Secretary