Swift Foods, Inc.: Conversion of Preferred Shares to Common Shares

December 7, 2012 PSE MEMORANDUM NO. LA-0536-12 TO : The Investing Public SUBJECT : Swift Foods, Inc. Conversion of Preferred Shares to Common Shares This is with reference to Circular No. 671-2000 dated March 15, 2000, in connection with the listing of 150,491,531 convertible preferred shares ("SFIP") of Swift Foods, Inc. (the "Company" or "SFI") to cover its 1:8 stock rights offering to all stockholders of record as of July 15, 1998 with the following details: AcTHCE a. 100,327,687 convertible preferred shares with a par value of P1.00 per share at an offer price of P10.00 per share; b. 50,163,844 convertible preferred shares with a par value of P1.00 per share to cover the Greenshoe Option shares at an offer price of P10.00 per share; and c. 1,504,915,310 common shares ("SFI common shares") with a par value of P1.00 per share to cover the underlying shares of the convertible preferred shares. In this connection, please be advised that in a sworn Corporate Secretary's certificate dated November 23, 2012, the Company certified that a total of 6,594 convertible preferred shares have been converted to 65,940 common shares with the following details. Number of SFIPs Number of corresponding SFI Date of Conversion common shares 6,594 65,940 November 23, 2012 To effect the conversion, the Stock and Transfer Agent recorded the cancellation in its books the above number of convertible preferred shares and facilitated the delivery of the corresponding SFI common shares in favor of the exercising convertible SFIP shareholder. In view thereof, 6,594 SFIP convertible preferred shares will be reduced in the records of the Exchange and 65,940 SFI common shares will be listed on Monday, December 10, 2012. This brings the number of common shares listed arising from the conversion of the said convertible preferred shares to a total of 895,496,870 common shares, while listed SFIP convertible preferred shares will be 60,816,115 common shares. 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/2012/LA__2012-0536.pdf> last visited January 10, 2013.