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Cover Story

One Team. One Rhythm. A trusted name, a great track record and a motivated teammoving towards a common goal. This aptly describes Filinvest Land, Inc. as it takes fulladvantage of a revitalized property sector with an exciting line-up of innovative projectsacross all product lines. FLI sets its sights on a bright future as it remains committed tobuilding the Filipino dream.

Contents

Financial Highlights

Joint Message to Shareholders

Operational Highlights

Board of Directors & Senior Management

Consolidated Financial Statements

Map of Projects

Consolidated Financial Statements andReport of Independent Auditors

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Filinvest Land, Inc. and SubsidiariesFinancial Highlights

Operating Results

Gross Revenues Net Income Return on Assets (ave.) Return on Equity (ave.)

Financial Position

Total Assets Total Long-term Debt Stockholders’ Equity No. of Shares Issued and Outstanding (‘000) Gross Debt to Equity* Net Debt to Equity**

Per Share Data

Primary Earnings Fully Diluted Earnings

2007

5,129,4871,704,393

4%5%

46,447,5183,567,464

36,799,27224,470,708

10%5%

0.0710.071

2006

3,519,536871,826

3%4%

41,003,0587,013,000

29,564,01320,770,708

24%22%

0.0560.056

2005

3,052,410696,017

3%4%

28,194,2545,575,000

18,273,9677,819,261

31%28%

0.0510.048

2004

2,569,010614,988

2%3%

26,223,6693,950,000

17,493,4227,819,261

23%22%

0.0450.043

* computed as long-term debt divided by stockholders’ equity** computed as long-term debt less cash equivalents divided by stockholders’ equity

(Amounts in Thousands of Pesos, Except Per Share Data)

NET INCOME REVENUES TOTAL ASSETS STOCKHOLDERS’ EQUITY

2004

2005

2006

2007

2004

2005

2006

2007

2004

2005

2006

2007

2004

2005

2006

2007

17,493,422

18,273,967

29,564,013

36,799,272

26,223,669

28,194,254

41,003,058

46,447,518

2,569,010

3,052,410

3,519,536

5,129,487

614,988

696,017

871,826

1,704,393

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2007 was an outstanding year for the Philippineeconomy. Gross Domestic Product (GDP) grew by 7.3%,the highest in 31 years. OFW remittances remainedstrong, reaching its highest-ever level of US$14.4 billion,13% more than the previous year. Interest rates were attheir lowest levels in years, and Gross InternationalReserves hit a record US$33.75 billion.

2007 was an equally momentous year for yourCompany. We started the year with a successful follow-on offering in February which raised Php 5.9 billion fromprimary shares and enabled the Company to finance itscapital expenditure and retire debt. The offeringsubstantially expanded the public float of your Company’sshares from 4.2 billion to 11.9 billion. As a result of thisincrease in the float, the liquidity of FLI significantlyincreased, with the average daily volume turnover at63.7 million shares in 2007, close to four times morethan the average of 12.8 million shares in 2006.

Financial Highlights

Your Company ended 2007 with a net incomeof Php 1.7 billion from revenues of Php 5.13 billion. The95% growth in net income was largely due to the Php918 million income of the real estate developmentbusiness, boosted by the full-year contribution of theinvestment properties which were acquired in September2006.

The real estate development businessgenerated revenues of Php 3.16 billion, 16% more thanthe previous year. This resulted to an increase in netincome contribution by 21% from Php 759 million toPhp 918 million.

Socialized and affordable housing (priced fromPhp 300,000 to Php 1.5 million for a house and lotpackage) contributed Php 736 million or 23% of 2007’sreal estate development revenues, while the middle-income segment contributed Php 1.35 billion or 43%.High-end projects, farm estates, industrial lots andentrepreneurial housing (Asenso Village) contributed thebalance of Php 1.06 billion of real estate developmentrevenues.

Rental income, on the other hand, grew by233% and reached Php 1.02 billion, while contributingPhp 429 million to the bottom line.

The investment properties, namely the PBComTower in Makati, Northgate Cyberzone and FestivalSupermall in Filinvest Corporate City, provide yourCompany with a recurring income base which shouldgrow as we add more office buildings that cater to theBusiness Process Outsourcing (BPO) industry.

FLI’s 20% stake in Filinvest Alabang, Inc.accounted for Php 357 million, or 21% of net income.This included a Php 280 million net gain from the sale ofFLI shares during the follow-on offering.

Project Highlights

FLI currently has 60 ongoing projects whichgenerated a sales take-up of Php 5.0 billion, 35% morethan the Php 3.7 billion generated in 2006, and was thehighest ever in the Company’s history. The strong saleswere supported by your Company’s more aggressive

Mercedes T. GotianunMercedes T. GotianunMercedes T. GotianunMercedes T. GotianunMercedes T. Gotianun Joseph M. YJoseph M. YJoseph M. YJoseph M. YJoseph M. Yapapapapap

Joint Message ofthe Chairman & the President

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roll-out of projects, expansion into the new provinces ofPampanga, Tarlac and Palawan, as well as the introductionof new products, namely, the mid-rise building (MRB)residential developments in major urban centers and acondotel in Cebu, located right across the Cebu BusinessPark. In 2007, FLI launched 17 new projects and phases,with a sales value of Php 6.1 billion.

In 2007, two buildings were added to theCompany’s growing portfolio of BPO office buildings.Plaz@ D and 5132 Building at Northgate Cyberzone wereturned over to their tenants which include suchinternationally well-known companies as ICICI Bank,Genpact and Verizon. This brought FLI’s office buildingportfolio to 108,000 square meters of gross leasable area,which remain fully leased out.

Sections of Festival Supermall were redevelopedto provide shoppers a better shopping experience. TheBingo area was converted into an area devoted to gadgets,games and hobbies called Digishops while new tenantswere added to the Greens and Grills area which hasbecome a hangout for the after-office crowd.

Outlook for 2008

2008 will be a year of challenges as we leadyour Company to new heights.

There are concerns of a slowdown in the globaleconomy brought about by the woes of the US subprimemarket and record-high oil prices. Locally, the higherinflation rate and the political noise could put a damperon the economy’s growth while the continuedstrengthening of the Peso against the US dollar adverselyaffects the purchasing power of OFWs who earn in USdollars.

We believe that your Company can withstandthese challenges as we continue to deliver on and buildthe Filipino dream. We believe that the demand forour core business of providing affordable homes for themajority of the Filipino population will remain resilient.

We have lined up over 30 new projects andphases for launch in 2008. We plan to go into new areas,

starting with our first residential subdivision in ButuanCity, as well as offer more of the inner-city residentialMRBs similar to One Oasis Ortigas. We will aim to doubleour in-house and broker sales teams and increase ourmarketing efforts to reach more of our target market inthe OFW-rich areas of Europe, the Middle East and Asia.

We also intend to increase our office buildingportfolio, with four new buildings with a gross leasablearea of 59,000 square meters at Northgate Cyberzonescheduled for completion this year. We have also startedconstruction of the two BPO office buildings at One OasisOrtigas which should add another 20,000 square metersof gross leasable space, further increasing your Company’ssource of recurring income. This should increase ourportfolio by 73% to 187,000 square meters.

We have lined up a number of training programsto enable our employees to serve our customers better,increase productivity and improve their skills. Our aim isto provide our employees with the tools to grow and tobetter themselves in order for them to be able tomaximize and realize their potential.

We would like to thank our stakeholders, ourvalued shareholders, employees and business partnerswho continue to support the Company in its efforts.

FLI’s management and staff will continue towork together as a team as it takes on the challenge ofpushing the Company to further heights, capitalizing onthe continued growth of the property sector.

MERCEDES T. GOTIANUNChairman

JOSEPH M. YAPDirector & President-CEO

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Operational Highlights

Total sales reservations of Filinvest Land, Inc.(FLI) hit a record of Php 5.0 billion in 2007 compared tothe Php 3.7 billion achieved in 2006. The core residentialbusiness of low-cost, affordable and middle-incomehousing continued to be the Company’s top sellers,contributing 70% of total sales reservations.

Core Housing in Greater Metro Manila & Suburbs

Socialized and Affordable

The socialized and affordable housing segmentscontinued to be strong contributors to FLI’s total sales.These projects support the government’s plan to enablelow-income families to have a home of their own throughPag-IBIG financing.

Aside from adding new phases and facilities toFLI’s existing socialized housing projects, the Companylaunched its first brand new socialized housing projectsince the 1997 Asian financial crisis. Located in Tanza,Cavite, Sunrise Place has a total of 23.5 hectares. Theproject has been very well-received and phase 1, whichhas an area of 7.9 hectares, was sold out in seven months.Phase 2 is now being launched.

A total of over 2,000 housing units will beoffered for sale in 2008 in various Pabahay communities,including another brand new Pabahay project that isbeing developed in General Trias, Cavite.

Under Futura Classic, FLI’s affordable housingbrand, projects launched in 2007 included Raintree PrimeResidences and Westwood Mansions, located in GeneralTrias and Tanza, Cavite.

In the nearby Brookside Lane community, landdevelopment of Phases 4 and 5 was completed in 2007.Several units of Shophomes were completed and arenow ready for occupancy. The units are located in acommercial strip of Brookside Lane ideal for retail shopsand business ventures. For 2008, prospective buyers canexpect more affordable product offerings in Cavite, asFLI prepares to launch Phases 6 and 7 of Brookside Laneand other new subdivisions.

Middle and High-end

In the middle-income segments of the market,FLI continued to develop and expand its projects inGreater Metro Manila and the surrounding suburbanareas.

Alexandria house model at Brentville International

Operational Highlights

In San Pedro, Laguna, FLI launched The Glens atPark Spring, a middle-income Asian-Tropical themeddevelopment. It is an expansion of the highly successfulPark Spring, one of the Company’s top-selling projects.By December 2007, The Glens had sold 85% of its initialinventory offering of 323 units. For 2008, sales effortswill be focused on the newly-launched Viridian at SouthPeak, a Swiss-inspired high-end community where thenatural beauty of the site is enhanced by a breathtakingview of Laguna de Bay and the surrounding mountains.

Along the Daang Hari Road, just minutes awayfrom Alabang, FLI will be opening the first phase of PointAsiana. The Asian-Zen themed subdivision covers 19.8hectares and will offer residential lots as well as houseand lot packages.

Brentville International, FLI’s premier high-endcommunity in Mamplasan, Laguna, generated Php 542million in sales in 2007, an impressive 320% year-on-year increase over 2006.

The Arborage, the newest phase of Brentville,was opened in 2007 in response to the almost full take-up of the initial phases of Brentville. Full developmentof the 9.3-hectare enclave is being fast tracked.

Brentville will continue to offer its MasterpiecesHome Collection in The Arborage and Prominence II dueto the continued strong demand for house and lotpackages. To expand the residential choices, new modelsof duplex townhomes will also be introduced inProminence II.

The Prominence II main clubhouse area wasformally inaugurated in October 2007. With an expansivepool and playground surrounded by towering palm trees,it offers a refreshing venue for family get-togethers andcommunity activities.

In northern Metro Manila, the eight-hectareTamara Lane started pre-selling in October 2007. Locatedin Brgy. Kaybiga, Caloocan City, Tamara Lane is an Asian-Contemporary themed community that offers lots andhouse and lot packages targeting the middle-incomemarket.

Mid-Rise Buildings

Land development in the first of FLI’s mid-risebuilding (MRB) residential communities started in late2007. One Oasis Ortigas is located on a 4.3-hectare lotalong Ortigas Extension, Pasig City. Envisioned as an urbansanctuary with resort-inspired amenities, One Oasis

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One Oasis

Prominence II clubhouse

Ortigas will consist of 11 mid-rise residential buildingsand two BPO office buildings within the sprawlingcomplex.

One Oasis Ortigas has been very favorablyreceived by the market. Construction of the first tworesidential buildings started in February 2008 and will beready for turnover by the first quarter of 2009.

Following the success of this concept, FLIlaunched One Oasis Davao on a 2.3-hectare property inMatina, Davao City. The gated community will becomposed of four medium-rise residential buildings andthree condotel buildings with a wide range of amenitiessuch as a clubhouse, children’s playground, and aswimming pool.

FLI plans to launch these inner-city MRBs in twomore locations within Metro Manila in 2008.

Township Developments

Filinvest Homes, QC

Covering over 260 hectares and still growing,the Filinvest Homes township in Quezon City added toits fast-growing communities in 2007.

The latest addition to the cluster of communitiesnear Batasan Pambansa, The Enclave @ Filinvest Heightswas launched in 2007. The contemporary Asian-inspiredcommunity offers house and lot packages starting at Php4 million.

Meanwhile, development of Italian-themedTreviso is almost complete with over 80% accomplishedby year-end 2007. The gate, guardhouse and the Vittoriaand Apollonia model houses are under construction andtargeted for completion by the middle of 2008.

Ciudad de Calamba

Ciudad de Calamba, FLI’s 350-hectare townshipdevelopment in Calamba, Laguna marked anothersuccessful year in 2007.

The development of the township took asignificant step forward with the purchase of a 5,000-square meter lot by Casa del Niño Montessori School.Construction of the school is scheduled to begin in 2008and will initially offer pre-school and elementary levels.

Facilities and amenities were expanded in theresidential communities of Montebello, Aldea Real andPunta Altezza. In the mid-income Montebellocommunity, construction of the main amenities started

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Treviso streetscape

Operational Highlights

in 2007. This includes the clubhouse, swimming pool,basketball court, playground and picnic huts. Inconjunction with land and amenity development, theaffordable Mediterranean-inspired subdivisions of AldeaReal and Punta Altezza introduced new and improvedhouse models to provide more flexible housing designsto buyers.

In Filinvest Technology Park Calamba (FTPC),the industrial anchor of the township, additional locatorshave joined the ever expanding roster of companiesoperating in the park.

With the improved macro-economic conditionsin the country, demand for industrial lots has increasedand is expected to continue to expand in 2008 andbeyond.

Havila

Havila (formerly Filinvest East County), is a 300-hectare township 12 kilometers east of the OrtigasBusiness District that straddles Antipolo, Angono andTaytay in Rizal province. To date, it has four existingcommunities in different stages of developmentcovering over 185 hectares of land.

In 2007, the township initiated acomprehensive marketing program starting with therechristening of the township as Havila. Biblical in origin,Havila refers to the mythical land beyond Eden. Sincethe province of Rizal is known to be a haven of artistry,the vision for Havila is to create an umbrella communityconnected not only by roads but by a spirit of collectiveinspiration. The re-branding efforts were undertaken intandem with a major revamp of the township’s lookwhich included upgrading of the entrances and theclubhouses of the residential communities of HighlandsPointe and Mission Hills.

The Spanish-mission inspired Sta. Isabelsubdivision and its neighbor Sta. Catalina continued toenjoy brisk sales in 2007. Both are located within the92-hectare Mission Hills community in Antipolo.

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Forest Farms main entranceMagnolia house model at Punta Altezza

The excellent views of Highlands Pointe 1 and2 in Taytay continued to attract buyers, along with thesmaller residential enclaves of The Villas and Manor Ridge.Because of its prime location near San Beda College, lotsin the 7.2-hectare Villa Montserrat, including theshophouses and commercial lots, are almost completelysold out.

Land development progressed steadily in ForestFarms, the 39.2-hectare residential community amidst alush forest in Angono. After the landscape enhancementof the main entry and view deck, construction of the on-site marketing office is now ongoing.

A banner year is expected in 2008 when thetownship with all its improvements is introduced in a fullmarketing and awareness campaign to further highlightits dominant status in the east. Major plans includeopening the link road to facilitate access to all the Havilacommunities from Ortigas, and the introduction of newamenities and communities within the township.

Timberland Heights

For the year 2007, the 677-hectare TimberlandHeights township in San Mateo, Rizal generated anincrease of 61% in total sales from a combined sale offarm lots and residential products in the newest phasesof Banyan Ridge, Mandala Farm Estates and The Ranch.

Land development activities for the entire 40-hectare Mandala 1 Farm Estates and Banyan Ridge Phase1 were completed in December 2007. Turnover to buyersis ongoing and some have already started farmingactivities and constructing their houses. The developmentof the amenity areas for these projects is scheduled forsubstantial completion by the end of 2008.

For 2008, sales and development efforts willfocus on the Mandala 2 Farm Estates, Banyan Ridge Phase2 and Banyan Crest, a new 15-hectare residentialsubdivision scheduled for launching by the secondquarter of the year.

Timberland Sports and Nature Club, therecreational anchor of the township, is in the final stagesof completion. A club general manager has beenappointed and mobilization is in progress for the

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Inside Mission Hills: residence at Sta. Monica (top)and the park at Sta. Isabel (bottom).

Mandala model farmhouse

Operational Highlights

scheduled club opening in the second half of 2008. Inanticipation of the start of club operations, the SpineRoad extension and expansion to the club area has beencompleted to facilitate easy access.

The Timberland project group has finalizednegotiations with Manila Waldorf School, Inc. concerningthe opening of a school within the township.Construction of The Rudolph Steiner School TimberlandHeights will start in 2008 and will be completed in timefor the opening of classes of school year 2009-2010.

Regional Projects

Residential

North of Manila, FLI launched the residentialcommunities of Somerset Lane in Tarlac, along withHampton Orchards and Claremont in Pampanga. Landdevelopment and construction of facilities in thesesubdivisions are in progress.

In September 2007, FLI soft launched WestPalms, the Company’s flagship residential project inPalawan. Located just 10 minutes away from the PuertoPrincesa City airport, West Palms is a Mediterranean-

themed village with resort-type amenities. In tandemwith site development, sales and marketing initiatives in2007 focused on increasing project awareness throughflyers, directional signs, banners and the opening of asales office at the NCCC Mall in Palawan.

With its presence firmly established in theVisayas, FLI opened expansion phases within Corona delMar, the Company’s first seaside residential developmentin Cebu. One of these was Escala, a 5-hectare area whichoffers lots, as well as the Daphne and Bianca housemodels. Also within Corona Del Mar, the Vittoria Cluster,a high-end residential enclave, was launched to addressthe growing demand for ready-for-occupancy housingunits in the area.

FLI launched The Grand Cenia Hotel &Residences, a 25-storey condotel and residentialcondominium along the busy Archbishop Reyes Avenuein Cebu City. The 4,211-square meter development isstrategically located across the Cebu Business Park andis easily accessible to the business hub, the conventioncenters and commercial areas. It is targeted forcompletion by the second quarter of 2011. The GrandCenia is being marketed as an investment product thatwill enable buyers to generate earnings from hoteloperations by including their units in the rental pool.

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Lobby rendering of The Grand Cenia Hotel & Residences

In Mindanao, FLI continued to build up thecommunities of the high-end Le Jardin de Villa Abrille,Villa Mercedita and Filinvest Homes Tagum. InZamboanga City, site development activities continuedfor the Spanish Mediterranean-inspired Villa San Ignacio.The Company will expand its reach even further in 2008as it launches Filinvest Homes Butuan, the first exclusiveresidential community in Butuan City.

Land development and landscaping activitieswere initiated in 2007 for Kembali Coast, the 50-hectareresidential beach resort on Samal Island, Davao del Norte.Just a scenic boat ride from Davao City, it will featureamenities such as forest parks and campsites, beachactivity areas and casitas for overnight stays.

Leisure

Within Laeuna de Taal, the 60-hectare lakesideresort community along the Tagaytay ridge, landdevelopment of the Bahia and Orilla residential enclaveswas completed in 2007. Orilla will start offering houseand lot packages in 2008, with a newly-designed housemodel ideal for a vacation or retirement home. Alsotargeted for this year is the completion of Phase 1 of theLake Club amenities.

Alternative Residential Products

Entrepreneurial Housing

The Asenso Village projects in Ciudad deCalamba and General Trias, Cavite focused on sitedevelopment in 2007. Both locations offer innovativehousing units as a practical choice for entrepreneurs andbalikbayans looking to set up cottage industries or home-based businesses.

Asenso Village in Calamba is set to become fullyoperational in 2008. As of year-end 2007, 96 units hadbeen sold and many buyers had already expressed theirintention to build their businesses this year. An additionalphase will be developed and opened for sale since theinventory of the first phase is almost completely soldout. Asenso Village also offers shop houses to prospectivelocators. The two-storey structure features a work areaon the ground floor and a residential area on the secondfloor.

In Gen. Trias, Cavite, land development activitiescontinued for the first phase of Asenso Village – Gen.Trias. A newly-completed entrance gate now welcomesvisitors to the community. The model unit and trainingcenter are scheduled for completion in 2008.

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Entrance to Fuente de Villa Abrille Asenso Village training center

Operational Highlights

Farm & Retirement Communities

Nusa Dua, Filinvest’s pioneer farm estate projectin Tanza, Cavite, achieved strong sales in 2007, bringingto 65% the take-up rate for the total inventory of the firstthree phases that have been launched to date.

Two new phases of Nusa Dua are scheduled forlaunching in 2008. Phase 4 will be a five-hectare Balinese-inspired residential development while Phase 5 will offeran additional five hectares of farm lots.

To add to the existing amenities of thecommunity, planned for construction this year are a viewdeck, meditation area, snack kiosk and a marketingshowroom.

Recurring Income Base

2007 was the first full year of operations of ourinvestment properties which were acquired in September2006.

Cyberzone Properties, Inc.

FLI owns 60% of Cyberzone Properties, Inc., thedeveloper of the Northgate Cyberzone informationtechnology park in Alabang. The remaining 40% is ownedby our partner, Africa Israel International Properties(2002) Ltd.

The completion of the 5132 Building in 2007increased the number of operational buildings to eightwith a combined gross leasable area (GLA) of 70,945square meters. The eight buildings are all fully leasedout.

The iHub 1 and 2 buildings are scheduled forcompletion in the first half of 2008, and are already 50%and 100% leased out, respectively. Construction of theiHub buildings 3 and 4 is in full swing and is expected tobe completed by the end of the year. With thecompletion of these buildings, Northgate’s total GLA willincrease to 131,000 square meters.

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Nusa Dua model farm

Northgate Cyberzone

Filinvest Asia Corporation

FLI holds controlling interest in Filinvest AsiaCorporation (FAC), a partnership with Reco Herrera PteLtd., an investment vehicle of the Government ofSingapore Investment Corporation Real Estate Pte Ltd.FAC owns 36,000 square meters of leasable office spacein the 52-storey PBCom Tower along Ayala Avenue inMakati City, the tallest building in the Philippines.

FAC maintained 100% occupancy for its ownedspace in PBCom Tower. Major tenants of the building areHSBC Electronic Data Processing (Philippines), PTE Ltd.,Citibank call center, American Express, Daksh eServicesand eTelecare.

Festival Supermall

Festival Supemall remains the undisputedregional shopping center south of Metro Manila with atenant roster of over 600 stores and still growing. Amongthe new shops that opened in 2007 were Penshoppeflagship store, Puma, Watch Republic, Slimmer’s World,Forever Flawless, Von Dutch, Las Paellas, The OldSpaghetti House and Figaro. Opening soon are Kashieca,The Face Shop and Skechers concept store.

A major development in 2007 was theredevelopment of the Bingo area into Digishops, asection of the mall devoted to gadgets, games andhobbies. New restaurants continue to open in the Greensand Grills area, which has become a favorite wateringhole for the after-office crowd. Festival Supermall iscurrently negotiating with several big-name tenants as itstrives to provide a more comprehensive shoppingexperience to its customers.

The Mini Trade Hall on the second level enjoyeda steady stream of bookings for corporate events andtrade shows throughout the year. It was also the preferredvenue for the Department of Trade and Industry’s regionaltrade fairs.

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PBCom Tower

Top: New restaurant at Greens & GrillsBottom: Digishops at Festival Supermall

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Board of Directors

Senior Management

First Vice PresidentAntonio E. CenonLuis T. FernandezGiovanni G. GanMarcelino Roldan T. ManaliliPablito A. PerezMarking C. Que

Vice PresidentReynaldo A. AscañoRomeo T. BautistaJulian V. Concepcion, Jr.Abner C. Gener, Jr.Tristaneil D. Las MariasMary Eleanor A. MendozaDanilo R. SalongaRowena T. TanEmiliano D. Templo

Cirilo TCirilo TCirilo TCirilo TCirilo T. T. T. T. T. Tolosaolosaolosaolosaolosa Independent Director (1)

Efren C. Gutierrez Efren C. Gutierrez Efren C. Gutierrez Efren C. Gutierrez Efren C. Gutierrez Director (2)Jonathan T. GotianunJonathan T. GotianunJonathan T. GotianunJonathan T. GotianunJonathan T. Gotianun Director (3)

AndrAndrAndrAndrAndreeeeew Tw Tw Tw Tw T. Go. Go. Go. Go. Gotianun, Jrtianun, Jrtianun, Jrtianun, Jrtianun, Jr..... Vice Chairman (4)Mercedes T. GotianunMercedes T. GotianunMercedes T. GotianunMercedes T. GotianunMercedes T. Gotianun Chairman (5)AndrAndrAndrAndrAndreeeeew L. Gow L. Gow L. Gow L. Gow L. Gotianun, Srtianun, Srtianun, Srtianun, Srtianun, Sr..... Chairman Emeritus (6)

LourLourLourLourLourdes Josephine Gdes Josephine Gdes Josephine Gdes Josephine Gdes Josephine G. Y. Y. Y. Y. Yapapapapap Director (8)Joseph M. YJoseph M. YJoseph M. YJoseph M. YJoseph M. Yapapapapap Director & President-CEO (7)

Cornelio C. GisonCornelio C. GisonCornelio C. GisonCornelio C. GisonCornelio C. Gison Director (9)LamberLamberLamberLamberLamberttttto Uo Uo Uo Uo U. Ocam. Ocam. Ocam. Ocam. Ocampopopopopo Independent Director (10)

Senior Vice PresidentNelson M. BonaEfren M. Reyes

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FDC Building 173 P. Gomez St., San Juan, Metro ManilaTel Nos.: 727-0431 to 55 / 727-0479 to 85

www.filinvestland.com