Minutes: Organizational Meeting of Banco Filipino Savings and Mortgage Bank

May 6, 1998 PSE CIRCULAR FOR BROKERS NO. 944-98 April 27, 1998 MR. REYNOLD P. ONG Vice President Listing & Disclosure Group Philippine Stock Exchange Centre, Exchange Road Ortigas Center, Pasig City RE : Minutes : Organizational Meeting of Banco Filipino Savings and Mortgage Bank Dear Mr. Ong : Attached please find a copy of the minutes of the Organizational Meeting dated March 27, 1998, electing the corporate officers of the Bank. cdt Very truly yours, (SGD.) ATTY. FRANCISCO A. RIVERA Corporate Secretary MINUTES OF THE ORGANIZATIONAL MEETING OF THE BOARD OF DIRECTORS OF BANCO FILIPINO SAVINGS & MORTGAGE BANK HELD AT 9TH FLOOR, BF BUILDING, 101 PASEO DE ROXAS, MAKATI CITY ON MARCH 27, 1998 AT 9:00 P.M. PRESENT: MR. TEODORO O. ARCENAS, JR. MR. ALBERT C. AGUIRRE ATTY. ORLANDO O. SAMSON MR. DELFIN M. DIMAGIBA DR. CONRADO P. BANZON JUDGE CESAR S. PAGUIO MR. JOVITO N. HERNANDEZ MR. C. ANTONIO TIU MR. TOMMY PEA SAN LIM ABSENT: GEN. RAMON E. MONTAO ATTY. TEODORO D. REGALA ALSO PRESENT: ATTY. FRANCISCO A. RIVERA ATTY. FILEMON L. FERNANDEZ cdt I. CALL TO ORDER The meeting was called to order by the Chairman, Mr. Teodoro O. Arceas, Jr., who presided over the same. II. CERTIFICATION OF QUORUM The Corporate Secretary, Atty. Francisco A. Rivera, certified that a quorum was present for the Board to transact business. III. ELECTION OF CORPORATE OFFICERS On motion duly seconded, and there being no objection, the following were elected Corporate Officers of the Bank for 1998: Chairman & President MR. TEODORO O. ARCEAS, JR. Vice Chairman MR. ALBERTO C. AGUIRRE Treasurer MR. DELFIN M. DIMAGIBA Corporate Secretary ATTY. FRANCISCO A. RIVERA Associate Corporate Secretary ATTY. GREGORIO S. IMPERIAL, JR. IV. ORGANIZATION OF THE VARIOUS BOARD COMMITTEES After discussions, and on motion duly seconded, the Board agreed to retain the same membership in the Board Committees with the exception of Atty. Bienvenido A. Tan, Jr. in the Trust Committee who was replaced by Any. Teodoro D. Regala, as follows: cdlex 1. EXECUTIVE COMMITTEE Mr. Teodoro O. Arcenas, Jr. Chairman Mr. Albert C. Aguirre Member Dr. Conrado P. Banzon Member Mr. Delfin M. Dimagiba Member Atty. Orlando O. Samson Invitee/Alternate Member Judge Cesar S. Paguio Invitee/Alternate Member Atty. Filemon L. Fernandez Invitee Ms. Catherine Aguirre Hernandez Invitee 2. LOANS COMMITTEE Mr. Teodoro O. Arcenas, Jr. Chairman Mr. Delfin M. Dimagiba Member Atty. Orlando O. Samson Member Ms. Catherine Aguirre Hernandez Member Mr. Jovito N. Hernandez Member Judge Cesar S. Paguio Invitee/Alternate Member Mr. Albert C. Aguirre Invitee 3. HUMAN RESOURCE MANAGEMENT COMMITTEE Dr. Conrado P. Banzon Chairman Mr. Albert C. Aguirre Member Atty. Orlando O. Samson Member Judge Cesar S. Paguio Member Mr. Jovito N. Hernandez Member Mr. Teodoro O. Arcenas, Jr. Invitee Mr. Delfin M. Dimagiba Invitee 4. BUILDING AND LAND ACQUISITION COMMITTEE Atty. Orlando O. Samson Chairman Mr. Albert C. Aguirre Member Judge Cesar S. Paguio Member Gen. Ramon E. Montao Member Mr. Jovito N. Hernandez Member Arch. Diosdado Pingol Consultant Mr. Teodoro O. Arceas, Jr. Invitee Mr. Delfin M. Dimagiba Invitee 5. COMMITTEE ON DAR PROBLEMS Gen. Ramon E. Montao Chairman Mr. Albert C. Aguirre Member Atty. Orlando O. Samson Member Judge Cesar S. Paguio Member Mr. Jovito N. Hernandez Member Mr. Teodoro O. Arcenas, Jr. Invitee Mr. Delfin M. Dimagiba Invitee 6. LEGAL AFFAIRS COMMITTEE Judge Cesar S. Paguio Chairman Atty. Teodoro D. Regala Member Justice Hermogenes Concepcion Member Mr. Albert C. Aguirre Invitee Mr. Teodoro O. Arcenas, Jr. Invitee Mr. Delfin M. Dimagiba Invitee Atty. Orlando O. Samson Invitee 7. TRUST COMMITTEE Dr. Conrado P. Banzon Chairman Mr. Teodoro O. Arcenas, Jr. Member Gen. Ramon E. Montao Member Atty. Teodoro D. Regala Member Mrs. Patricia R. Villamin Member Mr. Albert C. Aguirre Invitee Mr. Delfin M. Dimagiba Invitee Atty. Orlando O. Samson Invitee Judge Cesar S. Paguio Invitee 8. AUDIT COMMITTEE Mr. Basilio Estanislao Chairman Mr. Albert C. Aguirre Member Judge Cesar S. Paguio Member Mr. C. Antonio Tiu Member Alba Ladesma & Co. Consultant (non-voting) Punongbayan & Araullo Consultant (non-voting) Mr. Teodoro O. Arcenas, Jr. Invitee Mr. Delfin M. Dimagiba Invitee Atty. Orlando O. Samson Invitee Atty. Filemon L. Fernandez Invitee 9. DISPOSAL COMMITTEE Judge Cesar S. Paguio Chairman Mr. Delfin M. Dimagiba Member Mr. C. Antonio Tiu Member Mr. Albert C. Aguirre Invitee Mr. Teodoro O. Arcenas, Jr. Invitee Atty. Orlando O. Samson Invitee Mr. C. Antonio asked that the minority be given representation in the Executive Committee. Mr. Teodoro O. Arcenas, Jr. said that the request of Mr. Tiu will be considered later on.