Annual Corporate Governance Report (ACGR)

Consolidated ACGR for 2012

Updates and changes as of December 31, 2013 - No updates
Consolidated Changes in the ACGR for 2012 - No changes
Updates and Changes as of present date - No updates
Consolidated Changes in teh ACGR for 2014 and so on and so forth until ACGR is required - No Changes

---

Board Committees

1. Board Committees
     - Executive Committee
     - Audit Committee
     - Nomination Committee
     - Renumeration Committee

2. Board Committee Members

    a. Audit Committee
          - Rudin A. Gonzales Jr.
          - Juanita U. Tan
          - Rosalie A. Esteibar

    b. Nomination Committee
          - Rudin A. Gonzales Jr.
          - Mary Jean Beira
          - Manuel Palaje

---

Enterprise Risk Management

Our Risk Management System

---

Company's Policies

1. Whistle Blowing Policy
2. Conflict of Interest Policy
3. Related Party Transaction Policy