FILINVEST DEVELOPMENT CORPORATION

Filinvest Development Corporation (FDC) was incorporated on April 27, 1973, and in 1984, the Gotianun Family consolidated their real estate interests in FDC after divesting their shares in two family-owned banks, namely, Family Bank and Trust Company and the Insular Bank of Asia and America. By 1990, the company was able to expand its product line to include the development and sale of low-cost and medium-cost housing units. The product line was further extended to include the development of commercial district, leisure projects such as farm estates and sports clubs, and construction of residential and office condominiums. As a holding company, FDC's revenues are generated through its subsidiaries, joint ventures and affiliates which are involved in various businesses such as investment holdings, real estate development, banking, sugar cane farming and milling, and sugar trading. FDC's subsidiaries, joint ventures and affiliates include Filinvest Land, Inc. for residential property development, and Filinvest Alabang, Inc., Festival Supermall, Inc., Cyberzone Properties, Inc., and Filinvest Asia Corporation for commercial property development. The company's involvement in banking and financial services are led by Eastwest Banking Corporation and FDC Forex Corporation, while the sugar farming and milling businesses are handled by Pacific Sugar Holdings Corporation, Davao Sugar Central Co., Inc., Cotabato Sugar Central Co., Inc., and High Yield Sugar Farms Corporation. Source: SEC Form 17-A (2008)