In re San Miguel Brewery Inc.

April 28, 2008 SEC-CFD ORDER NO. 042-08 IN THE MATTER OF SAN MIGUEL BREWERY, INC., registrant REGISTRATION OF SECURITIES O R D E R Upon consideration of the Registration Statement and other papers and documents attached thereto which were filed for and on behalf of SAN MIGUEL BREWERY INC., the Commission resolved in its meeting of March 13, 2008, to render effective the same for the registration of the following securities described below at an offer price of Php8.00 each, pursuant to Section 12 of the Securities Regulation Code and its Implementing Rules and Regulations. TDAHCS Common Shares Number of Shares A. Initial Public Offering (IPO) 77,052,000 to 154,883,000 B. Secondary Offering 693,472,000 to 1,393,948,000 C. Over-Allotment 115,579,000 to 232,325,000 D. Issued and Outstanding Shares 13,707,153,960 to 14,524,375,960 Total 14,593,256,960 to 15,488,309,960 Let a Certificate of Permit to Offer Securities for Sale be issued in favor of the subject company authorizing the sale and distribution of the aforementioned securities. Let this Order be published at the expense of the corporation once in a newspaper of general circulation in the Philippines within ten (10) days from date hereof. The corporation is hereby directed to furnish the Commission with a copy of the affidavit of publication of this Order. DcIHSa SO ORDERED. EDSA, Mandaluyong City, Philippines. April 28, 2008. (SGD.) JUSTINA F. CALLANGAN Director Published in The Philippine Star on April 28, 2008.