Alleged Solicitation of Investments on Installment Basis by First Galleon Family Fund, Inc.

March 22, 2010 SEC ADVISORY The Commission has received information that FIRST GALLEON FAMILY FUND, INC., a duly registered corporation and licensed mutual fund company, has been soliciting investments on an installment basis through its "SMART/SUPER SMART SAVINGS PROGRAM." This program entices investors to make monthly remittances to EQUITABLE SECURITIES, INC. until it reaches the Php18,000.00 threshold amount required to purchase the FIRST GALLEON FAMILY FUND, INC. shares. As provided under Paragraph c (1) of Rule 35-1 of the Investment Company Rule, "Securities sold by an investment company shall be on a cash basis. Installment sales are hereby expressly prohibited." The public is hereby advised to take the necessary precautions when being offered the aforesaid product on installment basis by the above-named corporation. If you have any information relating to the alleged illicit activities, please call the Corporation Finance Department at Telephone No. 584-7264 or the Market Regulation Department at Telephone No. 584-7164. DCIEac