Fil-Estate Corporation (FC) was originally incorporated on September 17, 1954 as San Jose Oil Company with the primary purpose to prospect for and market oil, natural gas and other minerals, and secondarily invest in non-mining corporations or other enterprises. In 1996, the company changed its primary purpose to become a holding company engaged in property and infrastructure development. On January 22, 1998, the Securities and Exchange Commission approved the change in the company's corporate name to its current one. FC's key investment is in the form of equity interest in Metro Rail Transit (MRT) Holdings, Inc. and Metro Rail Transit Holdings 2. As of December 31, 2008, the combined investment in these holding companies represented approximately 29% interest in the Edsa MRT systems. The company's plans for future infrastructure projects are currently limited to FC's possible participation in Phase 2 of the MRT project. Source: SEC Form 17-A (2008)