Forum Pacific, Inc. (FPI) was originally incorporated in the Philippines on January 8, 1993 as Air Philippines International Corporation, and in 2000, the company changed its name to the present one. FPI's primary purpose is in investing, purchasing and acquiring assets of any kind and description, with the secondary purpose of engaging in the exploration, development and production of petroleum and related products, as well as other mineral and chemical substances. FPI owns shares of stocks of an exploration company and a thrift bank. The company's principal subsidiary is Express Savings Bank, Inc., a savings and loan association engaged in the business of granting loans, receiving deposits from the general public and paying interest on such deposits. FPI's other subsidiary is Forum Cebu Coal Corporation, a holder of 100% interest in two coal operating contracts in the Philippines covering the areas of Dalaguete and Balamban, Naga, province of Cebu. Source: SEC Form 17-A (2007)