August 6, 2014

PHILIPPINE STOCK EXCHANGE, INC.

Disclosure Department
3
rd
Floor, Philippine Stock Exchange Center
Ayala Triangle, Ayala Avenue
Makati City

Attention: Ms. Janet A. Encarnacion
Head, Disclosure Department

Gentlemen:

The Board of Directors, during its Regular Board Meeting held today, approved the
following items:

1. 1
st
Semester 2014 Financial Statements showing that the Company posted a net
income of P3 billion;

2. Approval of the issuance of preferred shares with features to be determined by
the Executive Committee;

3. Cash dividend of P2.382/share for preferred shareholders for the third quarter of
2014 with the record date of August 22, 2014 and payment date of September 5, 2014.

Thank you.

Very truly yours,


JOEL ANGELO C. CRUZ
VP - General Counsel &
Corporate Secretary