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Listing Under the Second Board and Small and Medium Enterprises Board

PSE Memorandum No. CN-0036-12 • Philippine Stock Exchange • Memoranda • Jul 12, 2012

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July 12, 2012 PSE MEMORANDUM NO. CN-0036-12 TO : The Investing Public and Market Participants SUBJECT : Listing Under the Second Board and Small and Medium Enterprises Board Please be informed that during the regular meeting of the Board of Directors ("Board") of the Exchange held on July 11, 2012, the Board directed the review of the Rules on Listing in the Second Board and the Small & Medium Enterprises ("SME") Board. As a consequence, the Exchange is constrained from acting on initial listing applications under the Second and SME Boards. The foregoing is immediately effective until further notice. Please be guided accordingly. HScAEC (SGD.) ROEL A. REFRAN Chief Operating Officer

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