Pilipino Telephone Corporation was incorporated on July 18, 1968 and, until 1991, engaged solely in the business of providing fixed line telecommunications services in eight cities and municipalities in the Philippines. PLTL also operated cellular telephone services using various technologies ranging from analog AMPS technology to the digital CDMA technology until 2002. In April 2000, the company launched a digital prepaid GSM cellular service under the Talk 'N Text brand. PLTL provides a prepaid GSM service, known as Talk 'N Text, using the GSM platform of Smart Communications, Inc. (Smart). PLTL also provided fixed line telephone services until June 2008, when the National Telecommunications Commission (NTC) approved the transfer of the fixed line business to Philippine Long Distance Telephone Company (TEL). The company operates under the jurisdiction of NTC, which jurisdiction extends to, among other things, approving major services offered including the rates charged by PLTL. As of December 31, 2008, PLTL is 92.5% owned by Smart, wholly owned and controlled by TEL. PLTL's subsidiaries are Telecommunications Service Provider, Inc., Piltel International Holdings Corporation and Piltel (Cayman) Ltd. Source: SEC Form 17-A (2008)