Recomposition of PSE Indices and Adjustment of Free Float Level

February 22, 2012 PSE MEMORANDUM NO. CN-0009-12 SUBJECT : Recomposition of PSE Indices and Adjustment of Free Float Level The Philippine Stock Exchange is announcing the results of the regular review of the PSEi and sector indices covering trading activity for the period January to December 2011. The review of the composition of the indices was based on the previously approved criteria used for selecting the members of the indices. To qualify for the PSEi, companies are required to meet the following during the review period: 1. Free float level of at least 12% 2. Trading liquidity must be among the top 25% by median daily value per month for at least nine out of 12 months 3. Top 30 based on full market capitalization (MCAP) To be included in the sector indices, companies must rank among the top 50% in terms of median daily trade per month in eight out of the 12-month period in review. To provide stability in the selection of PSEi-member companies, a company shall be inserted in the PSEi if it rises above the 25th position by full MCAP, to replace the company that ranks the lowest. A company shall be deleted in the PSEi if it falls below the 35th position by full MCAP, to be replaced by the company with the highest MCAP among those included in the reserve list. aDcTHE A reserve list or companies which ranked 31st to 35th by full market capitalization will be used in the event that one or more members are deleted from the PSEi during the period up to the next scheduled semi-annual review. Please be advised that we shall also update the free float level of all listed companies. The adjustments are based on the companies' latest public ownership reports as of 31 December 2011 submitted to the PSE. Attached is a list of the companies that will compose the PSEi and sector indices with their corresponding adjusted free float levels. The reserve list is likewise attached. The free float level of companies that are not members of the indices shall be posted on the corporate pages of the respective companies in the PSE website. All changes shall be effected on 12 March 2012 (Monday). For your guidance. Thank you. (SGD.) HANS B. SICAT President and Chief Executive Officer ATTACHMENT PSEi Company Stock Adjusted Float Code Level (%) 1 Aboitiz Equity Ventures, Inc. AEV 42.0 2 Aboitiz Power Corporation AP 22.0 3 Alliance Global Group, Inc. AGI 43.0 4 Ayala Corporation AC 35.0 5 Ayala Land, Inc. ALI 46.0 6 Bank of the Philippine Islands BPI 47.0 7 BDO Unibank, Inc. BDO 41.0 8 Belle Corporation BEL 36.0 9 Cebu Air, Inc. CEB 33.0 10 DMCI Holdings, Inc. DMC 28.0 11 Energy Development Corporation EDC 53.0 12 First Gen Corporation FGEN 32.0 13 Globe Telecom, Inc. GLO 22.0 14 International Container Terminal Services, Inc. ICT 48.0 15 JG Summit Holdings, Inc. JGS 27.0 16 Jollibee Foods Corporation JFC 39.0 17 Manila Electric Company MER 19.0 18 Manila Water Company, Inc. MWC 66.0 19 Megaworld Corporation MEG 39.0 20 Metro Pacific Investments Corporation MPI 41.0 21 Metropolitan Bank & Trust Company MBT 49.0 22 Philex Mining Corporation PX 32.0 23 Philippine Long Distance Telephone Company TEL 49.0 24 Robinsons Land Corporation RLC 39.0 25 San Miguel Corporation SMC 24.0 26 Semirara Mining Corporation SCC 28.0 27 SM Development Corporation SMDC 15.0 28 SM Investments Corporation SM 39.0 29 SM Prime Holdings, Inc. SMPH 31.0 30 Universal Robina Corporation URC 35.0 Reserve List Company Stock Adjusted Float Code Level (%) 1 Lepanto Consolidated Mining Company "A" LC 85.0 Lepanto Consolidated Mining Company "B" LCB 83.0 2 Security Bank Corporation SECB 72.0 3 Philippine National Bank PNB 33.0 4 Rizal Commercial Banking Corporation RCB 35.0 5 Atlas Consolidated Mining & Development AT 41.0 Corporation Financials Index Company Stock Adjusted Float Code Level (%) 1 Bank of the Philippine Islands BPI 47.0 2 BDO Unibank, Inc. BDO 41.0 3 China Banking Corporation CHIB 58.0 4 Citiseconline.com, Inc. COL 43.0 5 Metropolitan Bank & Trust Company MBT 49.0 6 Philippine National Bank PNB 33.0 7 Rizal Commercial Banking Corporation RCB 35.0 8 Security Bank Corporation SECB 72.0 9 The Philippine Stock Exchange, Inc. PSE 30.0 10 Union Bank of the Philippines UBP 22.0 Industrial Index Company Stock Adjusted Float Code Level (%) 1 Aboitiz Power Corporation AP 22.0 2 AgriNurture, Inc. ANI 56.0 3 Alaska Milk Corporation AMC 52.0 4 Alliance Select Foods International, Inc. FOOD 87.0 5 Alsons Consolidated Resources, Inc. ACR 20.0 6 Chemrez Technologies, Inc. COAT 36.0 7 EEI Corporation EEI 44.0 8 Energy Development Corporation EDC 53.0 9 First Gen Corporation FGEN 32.0 10 First Philippine Holdings Corporation FPH 43.0 11 Greenergy Holdings Incorporated GREEN 94.0 12 Holcim Philippines, Inc. HLCM 15.0 13 Jollibee Foods Corporation JFC 39.0 14 Manila Electric Company MER 19.0 15 Manila Water Company, Inc. MWC 66.0 16 Megawide Construction Corporation MWIDE 17.0 17 Pepsi-Cola Products Philippines, Inc. PIP 36.0 18 Petron Corporation PCOR 7.5 19 Phoenix Petroleum Philippines, Inc. PNX 22.0 20 RFM Corporation RFM 51.0 21 San Miguel Corporation SMC 24.0 22 Southeast Asia Cement Holdings, Inc. CMT 16.0 23 TKC Steel Corporation T 29.0 24 Trans-Asia Oil and Energy Development TA 41.0 Corporation 25 Universal Robina Corporation URC 35.0 Holding Firms Index Company Stock Adjusted Float Code Level (%) 1 Abacus Consolidated Resources and Holdings, Inc. ABA 45.0 2 Aboitiz Equity Ventures, Inc. AEV 42.0 3 Alcorn Gold Resources Corporation APM 72.0 4 Alliance Global Group, Inc. AGI 43.0 5 Anglo Philippine Holdings Corporation APO 38.0 6 Ayala Corporation AC 35.0 7 DMCI Holdings, Inc. DMC 28.0 8 Filinvest Development Corporation FDC 3.5 9 JG Summit Holdings, Inc. JGS 27.0 10 Lodestar Investment Holdings Corporation LIHC 78.0 11 Lopez Holdings Corporation LPZ 46.0 12 Marcventures Holdings, Inc. MARC 34.0 13 Metro Pacific Investments Corporation MPI 41.0 14 Pacifica, Inc. PA 31.0 15 Sinophil Corporation SINO 42.0 16 SM Investments Corporation SM 39.0 17 Solid Group, Inc. SGI 23.0 Property Index Company Stock Adjusted Float Code Level (%) 1 Ayala Land, Inc. ALI 46.0 2 Belle Corporation BEL 36.0 3 Cyber Bay Corporation CYBR 39.0 4 Empire East Land Holdings, Inc. ELI 28.0 5 Filinvest Land, Inc. FLI 39.0 6 Global-Estate Resorts, Inc. GERI 21.0 7 Megaworld Corporation MEG 39.0 8 MRC Allied, Inc. MRC 66.0 9 Robinsons Land Corporation RLC 39.0 10 SM Development Corporation SMDC 15.0 11 SM Prime Holdings, Inc. SMPH 31.0 12 Sta. Lucia Land, Inc. SLI 10.0 13 Vista Land & Lifescapes, Inc. VLL 32.0 Services Index Company Stock Adjusted Float Code Level (%) 1 ABS-CBN Corporation ABS 41.0 2 APC Group, Inc. APC 52.0 3 Cebu Air, Inc. CEB 33.0 4 DFNN, Inc. DFNN 77.0 5 Digital Telecommunications Phils., Inc. DGTL 48.0 6 Globe Telecom, Inc. GLO 22.0 7 GMA Network, Inc. GMA7 32.0 8 International Container Terminal Services, Inc. ICT 48.0 9 IP E-Game Ventures, Inc. EG 10.0 10 IPVG Corporation IP 41.0 11 ISM Communications Corporation ISM 21.0 12 Leisure & Resorts World Corporation LR 61.0 13 PAL Holdings, Inc. PAL 2.3 14 Paxys, Inc. PAX 26.0 15 Philippine Long Distance Telephone Company TEL 49.0 16 Philweb Corporation WEB 22.0 17 Premiere Horizon Alliance Corporation PHA 81.0 Mining & Oil Index Company Stock Adjusted Float Code Level (%) 1 Abra Mining & Industrial Corporation AR 43.0 2 Apex Mining Company, Inc. "A" APX 22.0 Apex Mining Company, Inc. "B" APXB 16.0 3 Atlas Consolidated Mining & Development AT 41.0 Corporation 4 Benguet Corporation "A" BC 42.0 Benguet Corporation "B" BCB 76.0 5 Century Peak Metal Holdings Corporation CPM 40.0 6 GEOGRACE Resources Philippines, Inc. GEO 94.0 7 Lepanto Consolidated Mining Company "A" LC 85.0 Lepanto Consolidated Mining Company "B" LCB 83.0 8 Manila Mining Corporation "A" MA 79.0 Manila Mining Corporation "B" MAB 76.0 9 Nickel Asia Corporation NIKL 27.0 10 NiHAO Mineral Resources International, Inc. NI 62.0 11 Oriental Peninsula Resources Group, Inc. ORE 33.0 12 Oriental Petroleum and Mineral Corporation "A" OPM 64.0 Oriental Petroleum and Mineral Corporation "B" OPMB 64.0 13 Philex Mining Corporation PX 32.0 14 Semirara Mining Corporation SCC 28.0 15 The Philodrill Corporation OV 49.0 16 United Paragon Mining Corporation UPM 16.0