Citicorp Capital Phil., Inc.: Accredited Firm for Issuing Fairness Opinions and Valuation Reports

February 19, 2013 PSE MEMORANDUM NO. LA-0073-13 TO : The Investing Public and Market Participants SUBJECT : Citicorp Capital Philippines, Inc. Accredited Firm for Issuing Fairness Opinions and Valuation Reports Please be informed that in its regular meeting held on February 13, 2013, the Board of Directors of the Exchange approved the application of CITICORP CAPITAL PHILIPPINES, INC. for the renewal of its accreditation for purposes of issuing fairness opinions and valuation reports of listed companies and prospective initial listing applicants of the Exchange. A fairness opinion submitted to the Exchange as part of a listing application should be issued by an independent firm duly registered or licensed by the Securities and Exchange Commission and accredited by the Exchange in accordance with the Guidelines for Fairness Opinions and Valuation Reports of the Exchange (the "Guidelines"). Please refer to Memorandum No. 2011-0104 dated March 9, 2011 regarding the Guidelines. In view thereof, the renewal of the accreditation of CITICORP CAPITAL PHILIPPINES, INC. shall be effective for a period of one (1) year from the date of this memorandum. Further, for easy reference, please be advised of the following firms that are currently accredited with the Exchange for purposes of issuing fairness opinions and valuation reports for listed companies and prospective listing applicants: EcSaHA Accredited Firms Validity of PSE Accreditation CLSA Exchange Capital, Inc. April 23, 2012 to April 23, 2013 First Metro Investment Corporation May 24, 2012 to May 24, 2013 Isla Lipana & Co. June 14, 2012 to June 14, 2013 Credit Suisse (Singapore), Ltd. July 12, 2012 to July 12, 2013 Unicapital, Inc. July 26, 2012 to July 26, 2013 Manabat Sanagustin & Co., CPAs July 26, 2012 to July 26, 2013 Maybank ATR Kim Eng Capital July 26, 2012 to July 26, 2013 Partners, Inc. Multinational Investment Bancorporation August 14, 2012 to August 14, 2013 Punongbayan & Araullo August 22, 2012 to August 22, 2013 PentaCapital Investment Corporation October 11, 2012 to October 11, 2013 ING Bank N. V., Manila Branch October 31, 2012 to October 31, 2013 Navarro Amper & Co. November 16, 2012 to November 16, 2013 UBS Investments Philippines, Inc. February 19, 2013 to February 19, 2014 Citicorp Capital Philippines, Inc. February 19, 2013 to February 19, 2014 For your information and guidance. (SGD.) J.V. B. ZUO III OIC, Listings Department Noted By: (SGD.) MARSHA M. RESURRECCION Head, Issuer Regulation Division <http://www.pse.com.ph/resource/memos/2013/LA__2013-0073.pdf> last visited April 5, 2013.