Manila Electric Company: Additional Listing

January 24, 2013 PSE MEMORANDUM NO. LA-0035-13 TO : The Investing Public SUBJECT : Manila Electric Company Additional Listing The Exchange approved on March 10, 2010 the application of MANILA ELECTRIC COMPANY (the "Company" or "MER") to list additional 15,000,000 common shares , with a par value of P10.00 per share, to cover the Company's Employee Stock Purchase Plan ("ESPP" or the "Plan") . Under the ESPP, the purchase price will not be less than 80% of the weighted average daily closing price of MER shares at the Exchange during thirty (30) trading days ending within two (2) months before the start of the ESPP offering period. In this connection, the Company advised that 423,825 common shares have been availed of and fully paid by the optionees under the Company's ESPP. This brings the number of common shares listed under the Plan to a total of 4,508,218 MER common shares. Further, the Exchange likewise approved the application of the Company to list additional 691,091 common shares, with a par value of P10.00 per share, to cover the 10% stock dividend shares of the fully paid Plan shares under the 13th offering of the Plan. Such 10% stock dividend was declared to the stockholders of record as of September 10, 2007, with a payment date of October 4, 2007. Out of the said 691,091 common shares covering the 10% stock dividend shares of the fully-paid Plan shares, an additional 41,405 common shares were issued to the concerned optionees. This brings the number of common shares issued and listed pursuant to the 10% stock dividend shares of the fully-paid Plan shares to 687,523 MER common shares. In view thereof, the listing of additional 465,230 common shares of the Company is set for Friday, January 25, 2013 . cHATSI The designated Stock Transfer Agent is hereby authorized to record and register in its books the above number of shares. For your information and guidance. (SGD.) J.V. B. ZUO III OIC, Listings Department <http://www.pse.com.ph/resource/memos/2013/LA__2013-0035.pdf> last visited May 23, 2013.