PHILWEB CORPORATION

PhilWeb Corporation (WEB) was originally incorporated in August 20, 1969 as South Seas Oil & Mineral Exploration Development Co., Inc., a company mainly engaged in mining. It later changed its name to South Seas Natural Resources, Inc. on March 29, 1984. In 2000, the company again changed its corporate name to PhilWeb.Com, Inc., together with its primary purpose from a mining and oil exploration company to that of an internet company. In 2002, WEB changed its corporate name to the present one and included gaming business as one of its secondary purposes. WEB's projects consist of the operation of PAGCOR e-Games cafes, the Basketball Jackpot game, and Premyo sa Resibo. The company is currently working on additional projects such as the RESIBOnanza, PlayAway service, and Bid Wars. Source: SEC Form 17-A (2008)