CTA Case No. 5763 (Decision)

REPUBLIC OF THE PHILIPPINES COURT OF TAX APPEALS QUEZON CITY FAR EAST BANK AND TRUST COMPANY, Petiti oner, - versus - C.T.A. CASE NO. 5763 COMMISSIONER OF INTERNAL REVENUE, Promulgated: R espo nd ent. NOV 16 2001 Ci4'/f;<'e>.t~�c-~.__ X- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - X DECISION The instant petitio n seeks the refund or iss uance of a tax credit certificate in the amount of P 19,480,920. 90 all egedl y representin g overpaid gross receipts tax fo r the taxabl e year 1997. The antecedent fac ts fo llow. Petitioner is a do mestic co rporati on dul y organized and ex isting under the laws of the Republic of the Philippines . It is engaged in bankin g ac ti viti es with office address located at Far East Bank Center, Sen. Gil J. Pu ya t A venu e, Makati City (No. 1, Joint Stipulation of Fac ts and Iss ues). In 1997, Petitioner fil ed its Quarterl y Percentage Tax Return s and pa id its gross receipts tax (GRT, for brevity) for each quarter as fo ll ows:

DECISION- CTA CASE NO. 5763 PAGE2 Exhibit Date Filed Period Covered GRT Paid A April 2 1, 1997 1st Quarter Pl35 ,5 50,526. 07 B July 21, 1997 2nd Quarter 125,937,002.57 October 20, 1997 3rd Quarter 123,580,773.58 c January 20, 1998 4111 Quarter 132,044,696.60 D For the four quarters of 1997, Petitioner alleged that it reported and included as part of its gross receipts tax base its total interest income subj ect to 20% and paid the corresponding GRT thereon totalin g P 19,480,920 .90, computed as follows: Period Covered Interest Income p 6,213,450.13 Subject to 20% 4,763,935.68 January to March 3,905,849.97 April to June p 124,269,002.52 4,597,685.12 July to September 95 ,278,713 .61 October to December 78,116,999.44 p 19.480.920.90 91,953,702.46 TOTAL P389.618.418 .03 On January I I , 1999, Petitioner fil ed w ith the Office of the Respond ent a letter- claim for the refund of the amount of P1 9,480,920.90 pursuant to Section 230 of the National Internal Revenue Code (A nnex E, Petition for Review). As there was no action on the part of herein Respondent and the two-year prescriptive period was about to expire, Petitioner filed the p resent case on March 31 , 1999 on the strength of this Co urt 's dec ision in CTA Case No. 4720 entitled As ian Bank Corporation vs. Commissioner of Intcmal Revenue promulgated last Januar-y 30, 1996, where We held that the twenty percent (20%) final withholding1:ax on a bank's 1 �') I 1 00 1

DECISION - CTA CASE NO. 5763 PAGE3 passive income should not form part of the bank 's taxable gross receipts for the purpose of computing the Gross Receipts Tax. In his Answer filed through registered mail on May 26, 1999, Respondent raised the following Special and Affirmative Defenses: "5. The Verification accompanying the Petition for Review filed thru its First Vice President Ms. E mily M. Calanog is defective as the sam e is not duly notarized before a notary public as required by Jaw so that failure to do so is tantamount to the filing of the Petition for review sans Verification and therefore should be dismissed forthwith; 6. In an action for tax refund , petitioner must show that taxes were paid erroneously or collected illegally. Failure to sustain this burden is fatal to the action for refund; 7. Claims for refund are construed strictl y against the claimants since they are in the nature of exemptions from taxation (Man ila Electric Co. vs. Commissioner ofInternal Revenue, 67 SCRA 351); 8. Taxes are presumed to have bee n paid and collected in acco rd ance with law." The alleged unnotari zed verification accompanytng th e Petition for Revi ew was cured with the submi ss ion on April 8, 1999 of a du 1y no tari zed verification be fore Respondent could file hi s Answer on May 26 , 1999 . Hence, in their ".Joint Stipulation of Facts and Issues" filed before this Court on November 4, 1999, the parties submitted onl y the following issues for resolution: 1. Whether or not Petitioner has earned interest income subj ect to the 20% final withholding tax for the first to the fourth quarter of 1997 ; 1 33 0

DEC ISIO N- CTA CASE NO. 5763 PA GE 4 2. Whether or not the 20% fin al w ithholding tax on said interest income earned by Petitioner from the first to the fo urth quarter of 199 7 was withheld at source; 3. Whether or not the said 20% fin al withholding tax was reported as part of the gross receipts of Petiti oner fo r 1997; and 4 . Whether or no t the 5% gross rece ipts tax (GRT) due was paid by Petitioner on its reported gross receipts fo r 1997. Petiti oner, to support its case, presented its Q uarterl y Percentage Tax Return s [o r the year 1997, the Quarterly breakdown of its excess GRT payments, the letter- certification prepared by the dul y co mmi ss ioned independent CPA with supporting schedul es, Summari es of Tradin g Gain fro m Sale of its securiti es, D etailed Schedules of its Monthly Interest Accru al, Summ ari es of Interest Income fro m its securiti es, Confirmations of Sale, Schedule of O utstanding Sales, Confi rmations of Purchase, Schedul es of Accrued Interest Inco me and Interest Income from its securiti es, Certificates of Taxes Withheld and its Subsidi ary Ledge rs for the yea r 1997. Respondent on his part, after stip ulating on the issues menti oned earli er which de lved mostl y on evidentiary matters, chall enged the legal bas is o f the claim fo r refu nd in the Memorandum submitted on January 8, 200 1 (see p ages 198 to 205). In said Memorandum, Respondent echoed the Dissenting O pini on of Judge Amancio Q. Saga in the case of China Banking Corporation vs. Commiss ioner of Intemal Revenu e, CTA Case No. 5405 promulgated on Septemhe1� 30, 1998, excerpts of whi ch are q uoted hereunder, thus : 1 3.3 ~~

DEC ISION - CTA CASE N O. 5763 PAGE 5 "There is no provision in the Tax Code or any special laws which excludes the 20% fi nal income tax withholding unde r Section SO(a), as no longe r form ing part of the gross receipts fo r purpose of the 5% gross receipts tax. On the other hand , Secti on 8(c) of Revenue Regulations N o. 12-80, dated N ovember 7, 1980, as amended by Section 7(c) of Revenue Regulations No . 17-84, dated October 12, 1984 have the same prov isions, thus: ' If the recipi ent of the above-mentio ned items of income are financial institutions, the same shall be incl uded as part of the tax base upon whi ch the gross rece ipts tax is imp�Jsed.' Clearl y, there is no doubt that the 20% final withholding tax is legall y includible as part of the gross receipts for purposes of computing the gross receipts tax." After analyzing the argum ents of both part ies , We are inclined to fi nd in favo r of R esp o nd ent. Petitioner postul ates that Secti on 4(e) of Revenue Regulati ons No. 12-80 dated November 7, 1980 clearly provi des that the amoun t representing the fi nal tax, not hav ing been received by the Petitioner but instead went to the coffers of the govern ment, should no longer form part of its gross receipts fo r purposes of computing the gross receipts tax . We find the fo regoing argument of the Petiti oner which incidentall y is based on the case of Asian Bani< Corporation vs. Commission er of Tntemal Revenu e, CTA Case No. 4720 dated Janu ary 30, 1996, legall y obj ectionable for two (2) reasons, to w it: (1) Section 4(e) of Revenue Regul ati ons No . 12-80 is not a computation determinative of the amount of gross receipts as basis of the gross receipts tax under Section 1 19 of the Tax Code. Sa id revenue regulations merely authori ze the de termination of the amount of gross receipts on the basis of the method of acco un ti ng being used by the taxpaye r under Section 37 of the Tax Code. Such acco un tinj methods for ta X"'purposes compri se a set of rul es for determini ng when and how to repo rt income and 1330

DEC ISION- CTA CAS E NO. 5763 PAG E 6 deductions (Co nsolidated Mines. i nc. vs. CTA . L- 18846, A ugust 29. 1974). The two principal accounting methods ex press ly and impli edl y recogni zed by the Tax Code and the Income Tax Regul ati ons are: (a) Cash receipts and di sbursement method or cash basis. Income earn ed by the taxpayer is not included in gross income until received and ex penses are not deducted until paid w ithin the taxabl e yea r; and (b) Accrual bas is. - Inco me is included in gross in co me when earned, whether rece ived or not, and expenses are allowed as deductions when incurred although not yet paid within the y e a r. (2) T hat the non-inclusion of the 20% fi nal w ithholding income tax from the gross interest inco me fo r purposes of gross receipts tax operates as an exemption from tax. Being an exempti on fi�om tax, the same must be construed strictly not against the gove rnm ent but against the one who asserts the claim of exemption. Tax exempti on can o nly be given effect when the grant is clear and categorical inasmuch as taxa tion is the rule and exemption is the exception , Section 26, Tax Code. The holding therefore in the Asian Bank Corporation to the effect that the non-inclusion of the 20% fin al withholding income tax from the gross rece ipts can logicall y be infe rred from the wordings of said Section 4(e) of Revenue Regul ati o ns No. 12-80, is misp laced . Tax statutes are to receive a reasonab le constructi on w ith a view to carrying out their purpose and inte nt (5 I A m Jur 36 1). It should not be construed as to permit the tax paye r to easil y evade the pay ment of the tax (Caban Steel Co. vs. Le-vvely n, 25 1 U. S. 50 1). Thus, the good faith of the taxpayer is not suffic ient justifi cati on fo r exemption from the payment of surcharges imposed by law (Commissioner vs. Royal lnterocean Lines and CTA, L-26506, July 30, 1970) . A tax statute should be construed to avo id the possibilities of tax evasion (Lo renzo vs. Posadas. 64 Phils. 353) ." It bears stress ing that the aforec ited Secti on 4(e) of Revenue Regulations No. 12- 80, re lied upon by Petitioner has already been superseded by Revenue Regulati ons No . 139 i

DEC IS ION- CTA CASE NO. 5763 PA GE 7 17-84 dated October 12, 1984. Secti on 7(c) of Revenue Regul ations No. 17-84 prov ides, thu s: Section 7 (c) If the rectpt ent of the above-menti oned items of income are financial instituti ons, the same shall be included as part of the tax base upon which the gross receipts tax is imposed. By quoting a superseded revenue regul ation, the Petiti oner in the Asian Bank case, led thi s Court to be lieve that indeed the bas is of the gross receipts is total gross receipts exclusive of the 20% fi nal w ithholding tax ded ucted and withheld under Secti on 50(a) of the Tax Code. Secti on 7(c) of Revenue Reg ul ati ons No . 17-84 clearl y and categoricall y provides that the basis of such tax is inclusive of the fi nal w ithholding tax. The conclusion find s support in the rulin g of the Court of Appeals in the case entitled Commissioner of Internal Revenue vs. Asianbank Corporation, CA-G.R. Sp No. 51248 promulgated on November 22, 1999, excerpts of whi ch are quoted hereunder: " It is true that Revenue Reg ul ati ons No. 12-80 prov ides that the gross rece ipts tax on banks and other fin ancial in sti tuti ons should be based on all items of income actuall y received . Actual recei pt here is used in op position to mere accrual (Rep. v. Lim Tion Teng sons & Co. , 16 SCRA 584). But receipt may be actual or constructi ve. Article 53 1 of the Civi l Code provid es that possession is acquired by the mate rial occupati on of a thing or the exerci se of a ri ght, or by the fac t that it is subj c t to the ac tio n of one wilL or by the proper acts and legal fo rm aliti es es tabli shed for acquirin g suc h ri ght. Moreover, taxati on inco me may be rece ived by the tax paye r himse lf or by someone authorized to rece ived it fo r hi m (Art. 532. C ivil Code). The 20% final tax w ithheld from in terest inco me of banks and other similar institutions is not income that they have not rece ived, it is simpl y w ithheld from them and

DECISION- CTA CAS E NO. 5763 PAGE 8 paid to the government, for their benefit. Thus, the 20% income tax withheld from the interest income is, in fact, money of the taxpayer bank but paid by the payor to the government in sati s faction of the bank's obligation to pay the tax on interest earned. lt is the bank 's obligation to pay the tax. Hence the withholding of the said tax and its pay ment to the government is for its benefit." In his Annotations and Jurisprudence on the Nat ional Internal Revenue Code as amended, former Commissioner of Intern al Revenue Jose Arafias defined gross receipts under then Section 260 (previously Section 249 and now Section 121) of the Tax Code as follows: 260(3). Meaning of "gross receipts". - The term "gross receipts" provided for in Section 249 of the Tax Code should be interpreted to m ea n "as the whole amount rece ived w ith out deductions," otherwise, it will be considered as "net receipts" (National City Bank of New York vs. CIR. ETA Case No. 52, July 12, 1952). Profits derived from the sale of miscellaneous acco unts, whether it is in connection with the banking bus iness of the banking in stitution or not, so long as they were earn ed or derived from its fund, as a banking institution, should be included in gross receipts . (Ibid). Aranas, Annotations and Jurisprudence on the National internal Revenue Code as amended, 6th eel. (1983), Vol. ll , p. 479. In his Commentaries and .Jurisprudence on the Na tional Internal Revenue Code of the Philippines, Jose N. Nolledo dra ws the sa me co nclusion: No deductions are allowed from gross inco me be fore the 5% tax is imposed as otherwise, the tax is based on net rece ipts (See National City Bank of New York vs. CIR. BTA Case No. 52. July 12, 1952). Nolledo , Commentaries and Jurisprudence on th e National Internal Revenue Code ofthe Philippines, 1976 Revised Editi on. p.ll 27.

DEC ISION- CTA CASE NO. 5763 PAG E 9 In the United States, whose jurisprud ence has persuas ive effect in thi s jurisdiction, the term "gross receipts" has long had thi s establi shed meanin g: " Gross income," "gross proceeds" and "gross receipts" all mean the same, it has been held , alth ough "gross earnings" are sometimes distingui shed from "gross receipts." G ross receipts ordinaril y mean the total receipts before anythin g is dedu cted fo r the expenses of management. " Coo ley, The Law on Taxation. 4th eel . ( 1924), Vol. II, pp. 1789- 1790, citing State v. Illinois Cent. R. Co., 246 Ill. 188,92. N.E . 8 14. " Gross earnin gs means entire ea rnin gs from all operations and not earnings less operating expenses, taxes and bad debts. State v. Uni ted E lectric Light & Water Co., 90 Conn. 452. 97 At!. 857'' Coo ley, The Law on Taxation. 4th ed. (1 924), Vo l. fl. p. 1790. Excise tax has not been all owed as a ded ucti on for purposes of determin ing gross receipts. In interpreting the term "gross rece ipts", Mertens, Law of Federal Income Taxation, has thi s to say: & 3.37. Constmction of Specific Wonl s XXX G ross Rece ipts In determinin g "gross rece ipts" such desc ri ptio ns as "the total amount received or accru ed" have been applil d. T hat gross receipts represent the total amount rece ived or acc ru ed is plain ; w ith respect to inventory, it is the amount the customer paid and not such amount reduced by an y excise tax for whi ch the sell er is responsi bl e. This definiti on of gross receipts - not subtractin g the exc ise payments - has been appli ed in formul as for DISCs. Mertens, Law of Federal Inco me Taxatio n, 1995 editi on, Chapter 3, page 54, Secti on 3.37, c iting Lucky Lager Brewing Co. v. Co mm ., 26 TC 836 ( 1956), af[d 246 F2d 62 1 (CA9 195 7) and Brown- Forman Corp . v. Comm., 94 TC 4 19 ( 1990). 1 ') �:-,i. . 0 -.. !

DECISION- CTA CASE NO. 5763 PAGE 10 In the aforecited Lucky Lage�� Brewing Co. vs. Com missioner of Internal Revenue, 246 F 2d 621 (CA9 1957), the United States Court of Appeals ruled: "The contention of petitioner is that the word "gross" in the term "gross receipts" means what the buyer paid for the beer less what the manufacturer paid to the gove rnment pri or to its sale under the excise tax, enacted in 1939. x x x. We do not agree. The language of paragraph (5) of Section 435 (e) that "gross receipts" are " the total amount received or accrued ***from the sale *** of stock in trade" (emphasis suppli ed] is irrefutably plain. It is a logical absurdity to contend that the "tota l amo unt received" from the sal es is not w hat the customer paid but a lesser amount determined by a deduction of a particular tax paid , here req uited to be paid and in fact paid by the seller, before the delivery of the beer. Lucky Lager Brewing Co. vs. Commissioner (~/ Internal Revenue, United States Court ofAppeals. Ninth Circuit, June 24. 1957, 246 F2d 62 1 (C/1 9 195 7). The exclusion of 20% FWT wo uld serious ly erode the GRT base. ln effect it would reduce by 20% the tax on gross rece ipts under Secti ons 12 1 (Tax on Banks and Non-bank financial Intermediari es and 122 (Tax on Fi nance Compani es) . Tax exemptions are strictl y construed against the taxpaye:�. In the absence of any clear provision of Jaw excluding the 20% FWT fro m the tax base for GRT purposes, we cannot conclude that such 20% FWT sho uld be excluded lor purposes of GRT computation. WHEREFORE, in view of the foregoing. the Petition for Review is hereby DENIED for lack of merit. 13J 3

DEC ISION- CTA C ASE NO. 5763 PAGE II WE CONCUR: (Dissenting) ERNESTO D. ACOSTA Pres iding Judge (2~(2.~c;{a/C2. <lt{. c%} UANITO C. CASTANEDA, Associate Jud ge CERTI FJCATION I hereby certi fy that the above dec isio n was reached afte r due consultation wi th the members of th e Court of Tax A ppea ls in acco rda nce w ith Secti o n 13, Article V III of the Constitution. ~ \> -C~ ERl'. ESTO 0. ACOSTA Pres idi ng Jud ge '1 ')0 ~-.,1 l'"J"'\

\~I ~ :. )I .~ , ~! ~ FAR EAST BANK & TRUST CO. vs. :,f1 COMMISSIONER o 'F INTERNAL REVENUE ,�.f, CTA CASE NO. 5763 p DISALLOWANCES ON TREASURY BILLS ANNEXA ~~�i JANUARY GROSS '~ ! RECEIPTS INTEREST ~j ISIN NO. EXHIBIT INCOME FINAL TAX TAX ~\ '! :~ DOS PUEBLOS, THELMA BL1296L514 G-1-1 444 .29 111 .07 5.55 d FIRST LEPANTO-TAISHO INSURANCE 6A-I-07 G-1-2 2,506 .01 626 .50 31.33 ") MB FINANCE CORPORATION 6A-I-07 G - 1-2 2,373.43 593 .36 29 .67 FEBTC 216-00172 FAO DIGITEL BLI296K463 G-1-3 49 ,273.25 12,318 .31 615 .92 I FEBTC 216-00172 FAO DIGITEL 6A-J-04 G-1-3 3,195.22 798 .81 39 .94 6A-I-07 G-1-4 19,629 .51 4 ,907 .38 245 .37 j SHELL PHILIPPINES PETROLEUM 1 SHELL PHILIPPINES PETROLEUM 6A-I-07 G-1-4 12,187.42 3,046 .86 152 .34 6A-I-07 G - 1-4 12,015 .26 3,003.82 150.19 I SHELL PHILIPPINES PETROLEUM 6A-I-07 G-1-4 SHELL PHILIPPINES PETROLEUM 6A-J-04 G- 1-4 2,220 .84 555 .21 27 .76 SHRINE GALLERIA CORP 5,560 .80 1,3 90 .20 69 .51 2.426 .87 30.34 ~ TBG VfA 6A-J-04 G - 1-13 51,130 .84 606.72 639 .14 7 ,112 .89 12 ,782.71 88 .91 i BLUEFUND SB0396L513 G-1 -13 4,116.58 51.46 FAREASTFUND BL0696L491 G-1-16 2,503 .52 1,778 .22 31 .29 ~ 1,341.25 1,029.15 16 .77 :1 CCC INSURANCE CO BL0396L498 G-1-19 381 .26 625 .88 4 .77 I 335 .31 I l 95 .32 I EQUITABLE INSURANCE CORPORATION SB0397A018 G - 1-22 TIG TA 201-00148 BL0396L504 G-1-2 8 TIG TA 201-00132 BL0396L504 G-1-2 8 TIG TA 201 -00105 BL0396L504 G-1-28 654 .98 163.75 8 .19 TBG VfA BL0396L504 G-1-28 4,043 .30 1,0 1 0 .83 50 .54 TBG VfA BL0396L498 G-1-30 11 ,032.37 2,758 .09 137. 90 KSA REALTY CORPORATION SB0397A018 G-1-30 31 ,596.18 7,899 .05 394 .95 JG SUMMIT HOLDINGS CORP SB0396L508 G-1-30 33,733 .63 8 ,433.41 421 .67 TIG TA 181 -00288 BL0396L498 G-1-34 370 .36 92 .59 4 .63 TIG TA 181 -00294 BL0396L498 G-1 -34 767 .70 191 .93 9.60 TIG TA 181 -00368 BL0396L498 G-1-34 586 .21 146.55 7. 33 SAN MIGUEL CORP SB0397A027 G-1-36 84,671 .56 21,167 .89 1,05 8.3 9 SAN MIGUEL CORP SB0397A027 G-1 -36 75 ,263 .61 18 ,815.90 94 0.8 0 SAN MIGUEL CORP SB0397A027 G-1 -37 14 ,111.47 3,527 .87 176.3 9 SAN MIGUEL CORP SB0397A~27 G-1-37 37 ,631.80 9,407 .95 470 .40 BLUEFUND 310,988 .12 77.747 .03 3,88 7.35 SB0397A 18:' G-1-37 MERJE TRADING CO SB0396L508 G-1 -44 1,600 .42 400 .11 2 0 .01 TBG VfA SB0397A027 G-1-45 4,924 .69 1,231 .17 61 .56 GS FUND BL0696K474 G-1 -45 37,784 .31 9.446 .08 472.30 PILIPINAS SHELL PETROLEUM CORP SB0396L508 G-1-48 14,571 .91 3,642.98 182. 15 TBG VfA SB0397A027 G-1 -48 1,278 .15 319 .54 15 .98 WYETH PHILS SB0396L508 G-1-48 7,415 .87 1,853 .97 92.70 TIG TA 181-00162 SB0397A027 G-1-49 1,988.24 497 .06 24 .85 HOC REALTY CORP SB0396L508 G-1 -49 17 ,076 .77 4,269.19 213.46 TIG TA 101-00122 SB0397A027 G-1 -52 217 .69 54.42 2.72 1 of 27 1 ) .,, ' 0 ~, '

TIG TA 101 -00 138 SB0397A027 G-1-52 363.43 90 .86 4 .54 TIG TA 101 -00152 SB0397A027 G-1-52 2,890 .81 722 .70 36 .14 TIG TA 116-00010 SB0397A027 G-1-52 235 .21 11 .76 TIG TA 181-00029 SB0397A027 G-1-52 940 .85 MAKATIINSURANCE SB0397A027 G-1-52 306 .24 76.56 3.83 TIG TA 201 -00070 SB0397A027 G-1 -52 811 .71 202 .93 10.15 TIG TA 201 -00136 SB0397A027 G-1-53 1,667 .70 416 .93 20 .85 TIG TA 201-00144 SB0397A027 G-1-53 558.98 139 .75 TIG TA 201-00148 SB0397A027 G-1-53 225 .06 6 .99 TBG VTA SB0397A027 G-1-53 1,477 .69 56 .27 2.81 FAREASTFUND SB0396L508 G-1-53 14 ,064.82 369.42 18.47 FAREASTFUND SB0396L508 G-1-56 137,603.81 3,516 .21 175 .81 FAREASTFUND SB0397A027 G-1-56 147 ,250.45 34,400 .95 1,720 .05 FAREASTFUND SB0397A027 G-1-56 96,619 .21 36 ,812 .61 1,840 .63 FEB INVESTMENTS INC G-1-57 42,173 .95 24,154.80 1,207 .74 FEB INVESTMENTS INC 6A-J -04 G-1-57 2,687 .36 10,543.49 527 .17 JOHN/RACEL CHENG 6A-J-04 G-1-58 2,650 .56 671 .84 33 .59 TIRSO TEJADA/CARlOAD TEJADA 6A-J-04 G-1-58 1,8 08.43 662 .64 33 .13 LOSARIA/CYNTHIA/JOSEPH NEIL 6A-J-04 G-1-59 1,544 .69 452 .11 22 .61 DR. ELINO FORTADES 6A-J-04 G-1-63 360.43 386.17 19 .31 GUOCO HOLDINGS 6A-D-90 G-1 -65 338 .88 4 .51 SAN MIGUEL CORP SB0396L508 G-1-65 217,283 .03 90 .11 4 .24 DIGITAL TELECOMMUNICATIONS PHILS SB0397A027 G-1 -65 49,61 1.23 84 .72 2,716 .04 GUOCO HOLDINGS SB0397A027 G-1-66 16,218 .50 54 ,320 .76 620 . 14 TBG VTA SB0397A027 G-1-67 44 ,929.28 12,402 .81 202.73 CECILLE/CLAUDETTE FRENCH SB0396L508 G-1-68 307 .32 4,054 .63 561 .62 CECILLE/CLAUDETTE FRENCH 6 A -J -0 4 G-1-68 850 .39 11,232.32 3.84 FIL-ESTATE PROPERTIES 6A-J-C14 G-1-69 218 .52 76.83 10.63 FEB INVESTMENTS INC BL0396L489 G-1-71 5 , 197 .28 212 .60 2.73 PURE FOODS 6A-D-90 G-1-74 1,081.54 64 .97 SAN MIGUEL CORP SB0397A027 G-1-74 2,376 .27 .. 54.63 13 52 FEB INVESTMENTS INC BL0396L513 G-1-76 45 ,557 .08 1,299.32 29 .70 FEB INVESTMENTS INC BL0396L504 G-1-76 1,964.43 270 .39 569.46 DANILO CHUA 6A-D-90 G-1-76 3,179 .55 594 .07 24 .56 WILLIAM/BELEN GOSIACO BL0396L489 G-1-77 11 ,389 .27 39 .74 DENNIS COY 6A-D-90 G-1-77 73 .99 491 .11 0.92 TIG TA 116-00003 BL0396L489 G-1-78 6,392.68 794 .89 79 .91 TIG TA 181 -00123 SB0396L508 G-1-78 18 .50 1.54 TIG TA 181 -00376 SB0396L~08 G-1-79 123 .09 1,598 .17 1.84 TBG VTA SB0396L 08~ G-1-79 147 .30 30 .77 11 .36 FEB STOCKBROKERS SB0396L508 G-1-82 908 .59 36 .83 13.26 MERCEDES ABELLA BL0396L489 G-1-82 1,060 .99 227 .15 4 .05 TIG TA 101-00142 BL0696L507 G-1-84 323 .76 265 .25 30 .83 FEB EXCHANGE INC SB0396L508 G-1-85 2,466 .67 80 .94 1,11511 .81 FAREASTFUND SB0397A036 G-1 -85 116,384 .67 616 .67 4 .24 FEB EXCHANGE INC SB0397A036 G-1-86 339110 29,096 . 17 552 .06 SB0397A0 36 44,165 .17 811 .85 93 .43 7,474 .11 11 ,041 .29 169.87 13,589 .29 1,868 .53 3, 397 .32 2 of 27

;i..~;_ I : TIG TA 101-00161 SB0397A027 G-1-93 667 .70 166 .93 8.35 SB0396L508 G-1-94 10,284 .97 2,571 .24 128 .56 'J PUREFOODS PISB0397AO G - 1-94 G - 1-95 115.17 28 .79 1.44 ,. 6A -J -04 G- 1-95 3,975.46 993 .87 49 .69 �: TIG TA 181 -00368 6A -J -04 G-1-95 2,531 .80 632 .95 31 .65 PISB0397AO G- 1-95 CBC CA 103-008301 -2 PISB0397AO 48.42 12 . 11 0.61 201 .61 50.40 2.52 ~i:' CBC CA 103-008301 -2 J TIG TA 101 -00152 TIG TA 116-00031 TIG TA 116-00010 PISB0397AO G - 1-95 542.36 ".! 135.59 6 .78 TING, ARVIN U. 6A-J-04 G-1-97 167.94 2.10 41.99 CONCHITA CALONZO OR ANNA SB0396L508 G-1-97 495 .22 123 .81 6 . 19 ALBERTO/ROSARIO SISON SB0396L508 G-1-99 967 .98 242.00 12. 10 ALBERTO/ROSARIO SISON SB0396L508 G-1-99 206 .77 51.69 2.58 EDGARDO/FELICIDAD/ANA MARIA REYES SB0396L508 G-1 -99 292 .87 73 .22 3.66 MANUEL/LUCILA CO SB0396l.508 G-1-99 51 .09 12.77 0.64 PHIL. WOMEN JUDGES ASSOC. INC SB0396L508 G-1-100 401.31 100 .33 5.02 THOMAS DY TANG SB0396L508 G-1-100 104 .35 26 .09 1.30 RICARDO T/NENITAICLARE ANNE OLA SB0396L508 G-1 -100 390.58 97 .65 4 .88 POA BUN PO OR NG HIP SB0396L508 G-1-102 243 .96 60 .99 305 RUPERTO/LYDIAIRODERICK SADIWA SB0397A027 G-1-103 2,165.16 541.29 27 .06 WILSON LIMOANCO SB0397A027 G-1-1 04 268 .00 67.00 3.35 FORTUNATO/JERONE CRUZ 6A -J -04 G-1-1 06 1,815 .02 453 .76 22 .69 INDUCTIVO, ISMAEL 6A-J-04 G-1-106 56 .72 14.18 0.71 CRESENCIO/FLORENTINA ALONZO 6A-J-04 G-1-106 74 .86 18 .72 0.94 MAKATIINSURANCE SB0397A027 G-1-107 6,021 .87 1,505 .47 75 .27 TIG TA 201 -00128 SB0397A027 G-1-107 4,333 .71 1,083.43 54 .17 TIG TA 101-00132 SB0397A027 G-1-107 1,993.41 498 .35 24 .92 SALDANA, RUFINA SB0397A045 G-1-108 8,371 .88 2,092 .97 104 .65 ISAGANI CHUA 6A-J-04 G-1-108 200 .22 50 .06 2.50 LUCITA DE JESUS 6A-J-04 G-1-1 08 252.41 63.10 3.16 FAMILY FUND II 6A -J -04 G - 1- 111 1,251 .39 312 .85 15.64 FAREASTFUND SB0397A045 G-1-111 3,964.25 991.06 49 .55 TIG TA 101-00129 SB0396L508 G-1-112 909 .50 227 .38 11.37 TIG TA 101-00130 SB0396L508 G-1- 112 285 .16 71 .29 3.56 TIG TA 181 -00377 SB0396L508 G-1-112 393 . 19 98 .30 4 .91 TIG TA 101 -00140 PISB0397AO G-1 -112 217 .31 54 .33 2.72 MAKATIINSURANCE i PISB0397AO G-1-112 1,100.16 27 5 .04 13.75 TIG TA 220-00296 PISB0397AO G-1 -112 1,328 .34 332 .09 16 .60 TIG TA 201-00129 PISB0397~0 G-1-112 484.21 12 1.05 6.05 TBG VTA PISB0397 0~ G-1-112 209 .17 52.29 2.61 JARDINE FLEMING EXCHANGE SB0397A045 G-1-113 27,721.35 6 ,9 30 .34 34 6.52 MAKATIINSURANCE SB0397A027 G-1-116 5 ,415 .77 1,353.94 67.70 TIG TA 201-00155 SB0397A027 G-1-116 45 ,229 .85 11 ,307.46 565 .37 TBG VTA SB0397A027 G-1-116 7,884 .43 1,971.11 98.56 TIG TA 101 -00007 SB0396L508 G-1-116 95 .64 23 .91 1.20 TIG TA 210-00155 SB0396L508 G-1-116 2,094 .69 52 3 .67 26 .18 TOTAL p 2,055,125.00 p 513,781 .25 p 25,669 .06 3 of 27 ,, ��.���.

1i FEBRUARY GROSS RECEIPTS ISIN NO. EXHIBIT INTEREST FINAL TAX INCOME TAX TIG TA 201-00148 SB0397A027 G-2-1 109.81 27.45 1.37 RFM FOUNDATION SB0697A020 G-2-2 356 .85 89 .21 4.46 FEB EXCHANGE INC SB0397A027 G-2-3 76 ,348 .03 19 ,087 .01 954 .35 FEB INVESTMENTS INC SB0397A027 G-2-4 29 ,498 . 10 7,374 .53 368 .73 BLUE FUND SB0397A027 G-2-4 141 ,243.86 35 ,310 .97 1,765 .55 FEB EQUITIES FUND 6A-J-04 G-2-4 312.41 78 . 10 3.91 SAN MIGUEL CORP SB0697A020 G-2-6 24,243 .78 6 ,060 .95 303 .05 GS FUND SB0397A027 G-2-6 WYETH PHILS SB0697A020 G-2-6 2,965 .63 741.41 37 .07 FEB EQUITIES FUND SB0396L508 G-2-6 9 ,324 .53 2,331 .13 116.56 FAREASTFUND BL1296L514 G-2-6 BLUE FUND BL1296L514 G-2-6 456 .24 114.06 5.70 19,592 .87 4,898 .22 244 .91 4,424 .37 1,106.09 55.30 TIG TA 181-00289 SB0397A027 G-2-9 1,172.60 293 .15 14 .66 SEABOARD EASTERN INSURANCE CO SB0396L508 G-2-1 0 $,9 97.46 1,249.37 62 .47 SHELL CHEMICAL CO SB0397A045 G-2-12 17 ,948 .09 4,487 .02 224 .35 GS FUND BL1296L514 G-2-13 16 , 137 .30 4,034 .33 201 .72 FEB INVESTMENTS INC BL1296L505 G-2-14 7,745 . 14 1,936.29 96 .81 FAREASTFUND SB0397A027 G-2-14 8,638.49 2,159 .62 107.98 TIG TA 101 -00153 SB0397A027 G-2-15 324 .84 81 .21 4.06 TIG TA 201-00017 SB0397A027 G-2-15 281 .62 70.41 3 .52 MANILA ELECTRIC CO SB0397A054 G-2-15 51,063 .07 12,765.77 638 .29 TIG TA 201 -00148 SB0397A027 G-2-15 539 .53 134.88 6.74 TBGVTA SB0397A027 G-2-15 4,390.14 1,097 .54 54 .88 SHELL PHILS PETROLEUM CORP SB0397A018 G-2-15 35,080 .02 8,770. 01 438.50 DIGITAL TELECOMMUNICATIONS ' SB0397A018 G-2-17 5,898.54 1,474 .64 73.73 DIGITAL TELECOMMUNICATIONS SB0397A018 G-2-17 17,695 .63 4,423 .91 221 .20 FEB EXCHANGE INC l. SB0397A027 G-2-18 24,106 .51 6 ,026 .63 301 .33 FEB INVESTMENTS INC SB0397A027 G-2-19 1,390 ;76 347 .69 17 .38 FAREASTFUND BL0396L513 G-2-19 9,377 . 11 2 ,3 44 .28 117.21 BLUE FUND SB0397AOZ7 G-2-19 4,599.44 1,149.86 57 .49 MAGSAYSAY MANPOWER SB0397A0~4 G-2-20 6 ,810 .05 1,702 .51 85 . 13 SB0397A03B ~ G-2-22 GOVERNMENT SERVICE INSURANCE 13,643.59 3,410 .90 170.54 I� MANILA ELECTRIC CO SB0397A045 G-2-23 3,930 .92 982 .73 49 . 14 I'' TBG VTA BL0396L513 G-2-23 4,354.46 1,088 .62 54.4 3 HAWAIIAN PHILS SB0397A045 G-2-24 10,329.53 2,582 .38 129.12 BOGO MEDELLIN MILLING CO SB0397A045 G-2-24 1,573 .75 393.44 19.67 FEB EXCHANGE INC SB0397A027 G-2-25 74,421 .75 18 ,6 05.44 930 .27 FAREASTFUND BL1296L514 G-2-26 4,722.85 1,180.71 59 .04 FEB STOCKBROKERS INC SB0397A045 G-2-26 37 ,016.59 9,254 .15 462 .71 4 of 27 '140 0 ,. ' .. . �:

FEB INVESTMENTS INC BL0396L489 G-2-26 1,531 .63 382.91 19 .15 FEB INVESTMENTS INC BL0396L489 G-2-26 69 .26 17 .32 0 .87 GOVERNMENT SERVICE INSURANCE SB0396L508 G-2-27 FEB INVESTMENTS INC SB0396L508 G-2-2 9 16 ,198 .88 4 ,049 .72 202.49 FEB INVESTMENTS INC SB0397A027 G-2-29 2,510.45 6 27 .61 31.38 TAN CHUA SIU HUN SB0396L508 G-2-32 2,434 .10 608 .53 30.43 ALTAMAR SHIPPING CO. SB0396L508 G-2-32 1,019 .02 254 .76 12.74 ALTAMAR SHIPPING CO. SB0396L508 G-2-32 4,543 .98 56 .80 ROWENA LACANIENTA SB0397A045 G-2-32 ! ,268 .61 1, 136 .00 28 .36 TBG VTA SB0397A027 G-2-32 411 .93 567 . 15 5.15 ZUELLIG PHARMA SB0397A027 G-2-33 2,367 .46 102 .98 29 .59 FEB EXCHANGE INC SB0397A045 G-2-33 9,782 .31 591 .87 BAUTISTA, FRANCISCO SB0397A027 G-2-34 122 .28 50101 SB0396L508 G-2-34 20,303 .30 2,445 .58 253 .79 BENITO CHAN LAO SB0396L508 G-2-34 2,221 .35 5,075 .83 50033 SB0396L508 G-2-34 983.46 27 .77 REYES, FELICIANA SB0397A045 G-2-35 1,983 .23 555 .34 12 .2 9 MINDA BATCAGAN SB0396L508 G-2-35 2,052 .84 245 .87 24 .79 MODESTO ATIENZA JR SB0396L508 G-2-35 4,123 .86 495 .81 25 .66 BEARER 154 SB0396L508 G-2-35 137.46 513 .21 51 .55 TIG TA 181 -00281 SB0397A027 G-2-35 153 .91 1,030.97 TBGVTA SB0397A027 G-2-35 525 .73 1.72 FLORENCEIZAYDA FONTANILLA SB0397A045 G-2-35 322 .67 34 .37 1.92 FORTUNE MEDICAL CARE INC SB0397A027 G-2-36 6,791 .06 38.48 6.57 PILIPINAS MAKRO SB0396L508 G-2-37 977.97 131.43 4 .03 ROBERTO LAYSON SB0396L508 G-2-37 9,506 .43 80 .67 84 .89 THOMAS ONGTENGCO SB0396L508 G-2-37 1,697 .77 12 .22 MEJIA, PAFNUCIO SB0396L508 G-2-38 14,350 .48 244.49 118 .8 3 JUAN/MARY LAO SB0397A045 G-2-38 869 .15 2,376 .61 179.38 JARDINE FLEMING EXCHANGE SB0396L508 G-2-38 505 .25 3,587 .62 10 .86 JUAN/MARY LAO SB0397A045 G-2-38 368.28 2 17 .29 6.32 FAREASTFUND SB0397B062 G-2-39 126 .31 4 .6 0 FAREASTFUND SB0397A045 G-2-39 3,790 .24 92.07 47.38 UNILEVER PHILS SB0397A045 G-2-43 9,848 .58 947 .56 123 .11 ASTEC POWER SB0397A027 G-2-43 5,010 .99 2 ,46 2 . 15 62 .64 FEB INVESTMENTS INC SB0397A027 G-2-43 90,574 .30 1,252 .75 1' 132.18 BLUE FUND SB0397A027 G-2-43 157,891 .76 22 ,643 .58 1,973 .6 5 FEB INVESTMENTS INC 13,084 .75 39,472 .94 163 .56 JOHNSON /TERESITA LEE ,. SB0397A03~ G-2-43 5,316 .17 3,271.19 66 .45 TIG TA 101 -00089 15,343 .19 1,329 .04 191 .79 TBG VTA SB0397A027�- . G-2-44 5,345 .22 3, 835 .80 66 .82 JG SUMMIT PETROCHEMICAL CORP 3,398.34 1,336 .31 42.48 GOVERNMENT SERVICE INSURANCE SB0397A045 G-2-44 5,228 .83 84 9.59 65 .36 18 GIMENEZ SEC . INC . SB0397A045 G-2-45 1,307 .2 1 10.79 FIDELITY MAGELLAN MUTUAL MGT SB0397A027 G-2-45 86 3.07 2 15.77 27 6 .99 FIDELITY MAGELLAN MUTUAL MGT SB0397A027 G-2-45 22,158.86 5,53 9.72 180.02 SB0396L508 G-2-46 14,401 .99 3,600 .50 334 .59 SB0396L508 G-2-46 :<5,767 .19 6,691 .80 158 .5 0 SB0396L508 G-2-46 12 ,680.33 3 , 170 .08 158.50 12,680 .33 3 , 170 .08 19.98 39 9.50 1,598 .01 . 5 of 27

YANGWU MEl SB0397A027 G-2-47 12,448 .17 .. 155.60 GE PHILS SB0397A018 G-2-47 5,662 .66 3,112 .04 70 .78 FEB INVESTMENTS INC SB0397A027 G-2-49 1,415 .67 BANCO DE ORO FOR VARIOUS ACCTS SB0396L508 G-2-51 97 ,388.55 24 ,347 .14 1,217.36 FEB EXCHANGE INC SB0397A045 G-2-52 8,846 .57 110.58 GLORIA NAVARRO SB0397A027 G-2-54 2,211 .64 635 .79 JAY VELASCO SB0397A027 G-2-54 50 ,863.20 12,715 .80 14 .52 JUAN/LOURDES DAVID SB0397A027 G-2-55 1,161 .89 20 .10 GREGORIO CAPULONG SB0397A027 G-2-55 1,608 .30 290.47 38 .22 SPANDEX MKTG CORP SB0397A027 G-2-56 3,057 .61 402 .08 70 .55 MA. SOCORRO/RENATO ASUNCION SB0397A027 G-2-56 5,644 .34 764.40 80 .03 SPANDEX MKTG CORP SB0397A027 G-2-56 6,402 .63 1,411 .09 38 .22 MADERA ANANIAS SB0397A045 G-2-56 3,057 .60 1,600 .66 66 .68 WILLIAM LIMSIONG SB0397A027 G-2-56 5,334 .07 764.40 91 .60 GLORIA PINGA SB0397A027 G-2-57 7,328 .05 1,333 .52 73 .31 ROBERT SY SB0397A027 G-2-57 5,864 .88 1,832 .01 25 .28 TOSHIBA ELECTRONICS PHILS SB0397A027 G-2-58 2,022.44 1,466 .22 6 .65 REYNOLDS PHILS CORP SB0397A018 G-2-58 531 .64 505 .61 136 .07 TRINIDAD, ELVIRA/SIMPLICIO SB0396L508 G-2-59 132 .91 6 .09 KANNAWIDAN INC SB0397A027 G-2-59 10,885 .38 2,721 .35 8.54 TIG TA 101-00148 SB0397A045 G-2-60 486 .98 121 .75 15 .95 TIG TA 116-00032 SB0397A045 G-2-60 683 .39 170 .85 33 .45 TIG TA 201-00070 SB0397A045 G-2-60 319 .07 44 .25 TIG TA 201-00120 SB0397A045 G-2-61 1,276 .28 668 .94 8.45 TIG TA 281-00025 SB0397A045 G-2-61 2,675 74 885 .07 18 .72 TBGVTA SB0397A045 G-2-61 3 ,540 .27 169 .05 6 .52 AIHI FORGING CO . OF ASIA SB0397A045 G-2-61 374 .31 768 .19 UNILEVER PRC SB0397A036 G-2-63 676 . 18 130.41 114 .92 TIG TA 181-00191 BL0396L513 G-2-66 1,497 .25 15,363 .74 727 .35 TIG TA 181-00368 BL0396L513 G-2-67 2,298.46 12 .35 TIG TA 181 -00373 BL0396L513 G-2-67 521 .62 14,547 .02 33 .21 UBP TISG SB0397A045 G-2-67 61 ,454 .94 247 .02 9.58 TIG TA 101 -00050 SB0397A045 G-2-67 664 .16 127 .73 TIG TA 201-00084 SB0397A045 G-2-67 9,193 .85 191 .56 17.41 TIG TA 101-00137 SB0397A045 G-2-68 58 ,18808 2,554 .68 104.42 TBG VTA SB0397A045 G-2-68 348 .28 23 .51 WALLEM PHIL SHIPPING BL0396L489 G-2-70 988.06 2 ,088 .44 95 .78 ASTEC POWER SB0397A045 G-2-70 . ~ . 656 65 470 .18 236 02 GOVERNMENT SERVICE INSURANCE 1,915 .55 103.2 5 UBP FAO SHANGRILA \, 766 .24 4,720.42 61 .17 YUK YIN GARCIA 10,218 .70 2,064 .92 88 .93 FEB INVESTMENTS INC SB0397A045 .,.G-2-70 1,223.45 53 .62 FEB INVESTMENTS INC SB0397A045 G-2-72 1,393.13 1,778 .56 163 .77 FEB INVESTMENTS INC SB03978080 G-2-74 8,353 .76 1,072 .35 58 .90 SALAS, BENJAMIN/LYDIA SB0397A027 G-2-74 1,880 .72 3,275 .49 2 .8 1 CORAZON LOZADA/JAIME DEE SB0397A027 G-2-75 7,662 .18 1,177 .99 37 .39 SB0397A027 G-2-75 18 ,8 8 1 6 6 45 .73 SB0397A036 G-2-76 8,259 .68 56 . 10 SB0397A0:(.7 G-2-77 4,893 .79 747 .87 7,114 .24 914 .58 4,2 89 38 13,101 .96 4,711 .95 224 .41 2,991.46 3,658 .32 6 of 27

~.c, � :. , q '"' ~i .j .i VIRG INIA CHUA LIM SB0397A018 G-2-78 1,039 .27 259 .82 12 .99 SB0397A027 G-2-78 5,111.79 1,277.95 63 .90 �I FIDEUJOVITA DE JESUS SB0397A027 G-2-78 2,352 .90 29.41 588 .23 ,I FRUMENCIO LAGUSTAN FRUMENCIO LAGUSTAN SB0397A027 G-2-79 1,240 .99 3 10 .25 15.5 1 LYDIA CHUA/ EMMA CO SB0397A018 G-2-79 2,839 .00 709 .75 35 .49 ALCANTARA BL0396L504 G-2-79 3,635 .94 908 99 45.45 IBM PH ILIPPINES SB0397A045 G-2-83 82,251 .83 20,562 .96 1,028 .15 DIGITAL TELECOMMUN ICATIONS INC SB0397A018 G-2-87 1,618.80 404 .70 20 .24 DAVID/FELISA GAN SB0397A018 G-2-87 1,243 .60 310 .90 15.55 TIG TA 101 -00151 SB0397A027 G-2-88 6 ,068.49 1,5 17.12 75 .86 TBGVTA SB0397A027 G-2-88 3,582 .75 895 .69 44 .78 UNILEVER PHILS SB0397A045 G-2-90 59,090 .77 14,772 .69 738 .63 ALMAZAN ELVIRA SB0397A054 G-2-100 4,535 .39 1' 133.85 56 .69 EP IFANIO GO BL0396L489 G-2-1 00 420 .90 105 .23 5 .26 TBG VTA SB0397A027 G-2-101 1,343 .03 335 .76 16 .79 UBP FAO SHANGR ILA SB0397A027 G-2-105 4,989 .58 1,247.40 62 .37 UBP FAO SHANGRILA SB0397A027 G-2-105 ),707.46 2,426 .87 121 .34 EDSA LRT SB0397A045 G-2-107 12,362 .56 3,090.64 154 .53 UNILEVER PHILS SB0397B071 G-2-108 40,556 .88 10,139 .22 506 .96 IB GIMENEZ SEC. INC. SB0397A027 G-2-109 2,309 .46 577 .37 28 .87 TIG TA 101 -00138 SB0397A027 G-2-110 1,563 .54 390 .89 19 .54 TBGVTA SB0397A027 G-2-11 0 7,846.28 1,961.57 98 .08 WYETH PHILS SB0397A045 G-2-111 7,086 .25 1,77 1.56 88 .58 GUOCO HOLDINGS SB03978080 G-2-112 8,119.40 2,029 .85 101.49 WALLEM PHIL SHIPPING SB0397A027 G-2- 112 4 ,909 . 14 ~ 1,227.29 61 .36 KIMBERLY CLARK SB0397B080 G-2-112 2,072 .80 518 .20 25 .91 FEB INVESTMENTS INC SB0397A027 G-2-113 59,943 .88 14 ,985 .97 749 .30 FEB INVESTMENTS INC SB0397A027 G-2- 113 13,210 .01 3,302.50 165.13 FEB INVESTMENTS INC SB0397A045 G-2-113 231,970 . 14 57 ,992 .54 2,899 .63 FEB INVESTMENTS INC SB0397B080 G-2-113 10,040 .37 2,510.09 125.50 FEB INVESTMENTS INC BL0396L489 G-2-113 798 .70 199 .68 9.98 TIG TA 101-00135 SB0397A045 G-2-115 2,442 .87 610 .72 30 .54 TIG TA 281 -00121 SB0397A045 G-2-115 985 .84 246.46 12.32 PILIPINAS SHELL PETROLEUM SB0397B071 G-2- 115 1:'5,853 . 18 21 ,463 .30 1,073 .16 PILIPINAS SHELL PETROLEUM SB0397A045 G-2- 115 26 ,177.23 6,544 .31 327 .22 TIG TA 101-00117 SB0397A045 G-2-116 525 .54 131 .39 6 .57 PILIP INAS SHELL PETROLEUM BL 1297B078 G-2-116 144,835 . 11 36,208 .78 1,810.44 IB GIMENEZ SEC . INC . SB0397AOf7 G-2-116 1,847 .55 461 .89 23 .09 TBG VTA SB0397A045"' G-2-116 11 ,224 .88 2,806 .22 14 0 .3 1 FORTUNE GUARANTEE SB0397A027 G-2-117 3,865 .76 966 .44 48 .32 FORTUNE MEDICARE SB0397A027 G-2-117 3,869 .58 967.4 0 48 .37 FEB LEAS ING & FINANCE CORP SB0397A045 G-2- 188 14 ,365.90 3,591.48 179 .57 BLUEFUND SB0697A020 G-2-188 412 ,908 .00 103,227 .00 5,161 .35 BLUEFUND SB0697A020 G-2-188 624 ,444 .08 156,111 .02 7,805 .55 BLUEFUND SB0697A020 G-2-188 67 ,741 .56 16,935 .39 846 .77 BLUEFUND SB0697A020 G-2-188 33,860 .99 8,465 .25 42 3 .26 7 of 27 14 J:..

FEB LEASING & FINANCE CORP SB0396L492 G-2 - 119 7,501 .12 1,875 .28 93 .76 FEB EXCHANGE INC SB0397A02-6 G-2-120 96 ,278.28 24,069 .57 1,203.48 BLUEFUND SB0397B062 G-2-120 182,012 .52 45,503 .13 2,275.16 BLUE FUND SB0397B062 G - 2- 120 94 ,866 .28 23,716.57 1' 185.83 BLUEFUND SB0397A036 G-2-120 62 ,558 .56 15,639 .6 4 781 .98 TOTAL p 4,134,738 .05 p 1,033,684.51 p 51,684.23 MARCH GROSS RECEIPTS ISIN NO. EXHIBIT INTEREST FINAL TAX INCOME TAX IBM PHILIPPINES SB0397A045 G-3-2 30,072 .80 7,518 .20 375 .91 UBP FAO SHANGRILA 752 .00 188 .00 9.40 BLUEFUND SB0397A045 G-3-2 BLUEFUND 423 ,558.33 105 ,889 .5 8 5,294.48 BLUE FUND SB0697A020 G-3-7 164 ,770.86 41,192 .72 2,059 .64 BLUE FUND 8 ,028.29 GS FUND PISB0397AO G-3-7 32 ,113.16 161.41 401.41 FEB INVESTMENTS 645 .63 610.06 8.07 0016-0046 PISB0397AO G-3-7 257 .82 DOMINADOR F MARTE 2 ,440 .23 581 .77 30 .50 TIG TA 101 -00048 SB0396L508 G-3-8 1,031 .27 35 .32 12 .8 9 TIG TA 101 -00142 2,327 .09 49 .89 29 09 GOVERNMENT SERVICE INSURANCE PISB0397AO G-3-8 28 .73 TIG TA 201-00044 141 .26 6,656 .61 1.77 TBG VTA BL0396L489 G-3-8 199.57 36 05 2.49 TIG TA 2201-00136 SB0397A036 G-3-9 114 .93 431 .78 1.44 SAMSUNG MABUHAY CORP. 26 ,626 .43 155 .12 332 .83 TBG VTA SB0397A027 G-3-9 144 .19 2,607 .23 1.80 FEB INVESTMENTS 1,727 . 13 167 .62 21 .59 FEB INVESTMENTS SB0397A027 G-3-10 620.46 23 .48 7.76 CARMEN/DOMINGA ASUNCION 10,428 .91 352 .95 130 .36 SANDY/ANTONIO LIQUETE SB0397A027 G-3-10 670.48 247 .59 8.38 LUCITO DE JESUS 151 .24 1.17 GEORGE/LYDIA FELICIANO BL0697B089 G-3-10 93 .90 17 .65 WYETH PHILS 1,411 .81 ? 12 .38 RFM SNACKS SB0397A027 G-3- 11 151 .24 7.56 ROBINSONS LAND CORP 990 .36 90 .42 7.56 HUNTS-URC SB0397A027 G-3-11 604 .96 4 .52 MADRIGAL WAN-HI LINES 604 .96 14,738 .39 736 .92 UNILEVER PHILS PIBL0696K4 G-3-11 361 .67 261 .09 1305 2100-01794 -2 58,953 .57 758 .80 37 .94 PIBL0696K4 G-3- 11 1,044 .35 510 .06 25 .50 3,035 .18 58 .14 2.91 PIBL0696K4 G-3-11 2,040 .23 65 .15 232 .55 1,303 . 10 7.40 BL0396L489 G-3-13 5,212 .39 148 .04 592 . 14 PIS80397AO G-3-13 SB0396L508 G-3-13 SB0396L492 G-3-15 SB0397Aq36 G-3-15 SB0396L492" G-3-15 SB0397A045 G-3-19 SB0397A045 G-3-22 SB0397A027 G-3-22 SB0397A027 G-3-23 PISB0397AO G-3-23 PISB0397AO G-3-24 6A-J -04 G-3-24 8 of 27

FE81NVESTMENTS 8L1296L514 G-3-24 2,283 .90 570 .98 28 .55 FAREASTFUND PISB0397AO G-3-25 3,648.41 912 .10 45.6 1 MERJE TRADING CO S80396L508 G-3-26 175 .99 GOVERNMENT SERVICE INSURANCE SB0397A054 G-3-26 703 .96 7,237 .28 8.80 ENGR. BENITO VISAYA S80397A027 G-3-26 28,9 49 .10 361 .86 TIG TA 201-00026 PIS80397AO G-3-26 62 .99 WALLEM PHIL SHIPPING SB0397A045 G-3-27 251 .97 353 .15 3.15 UNILEVER PHILS S803978099 G-3-2 8 1,412 .59 1,978 .19 17 .66 MANILA MIDTOWN HOTEL S80397A027 G-3-28 7.912 .76 4,4 30.24 98 .91 � PILIPINAS MAKRO INC SB0397A054 G-3-28 17,720 .96 408 .21 221 .51 KURODA HOYO PHILS S80397A045 G-3-29 1,632.85 ?. 962 .99 20.4 1 PCI8 SA 4083-08204-3 S80397A045 G-3-29 3,851 .96 5,886 .17 48.15 BLUEFUND S80697A020 G-3-30 23 ,544 .66 1,968.14 294 .31 BLUEFUND S80697A020 G-3-30 7,872 .55 26,449 .73 98.41 8LUEFUND S80697A020 G-3-30 105,798.92 50,921 .10 1,322.49 MENDOZA, MA LINDA S80397A027 G-3-31 203 ,684.41 61,091 .83 2,546 .06 MAGSAYSAY MANPOWER S80397A027 G-3-31 244,367.31 177.13 3,054 .59 ~EPPEL lVI INVESTMENTS S80397B062 G-3-31 289 .50 WYETH PHILS S80397B062 G-3-32 708 .53 9,356.49 8 .86 SMINC SB03978062 G-3-32 1,157 .98 859 .20 14.47 HEALTH & BEAUTY CENTER SB0397A054 G-3-33 37,425 .95 23,379 .96 467.82 INTERNATIONAL TOY WORLD SB0397A054 G-3-33 3,436 .81 515 .23 42 .96 HOME WORLD SHOPPING SB03978062 G-3-34 93,519 .85 1,060.10 1.169 .00 ASTEC POWER S803996L492 G-3-34 2,060 .92 5,329.40 25 .76 FEB EXCHANGE INC SB0397A045 G-3-34 4,240 .40 1,368 .34 53 .01 FEB EQUITIES INC SB0697A020 G-3-35 21,317 .59 2,565.49 266.47 FE81NVESTMENTS SB0397A045 G-3-35 5,473 .37 2 ,117 . 15 68 .42 FEBTC FAO BASIC PETROLEUM SB0397A027 G-3-36 10,261 .96 253 .26 128 .27 TOPY INDUSTRIES SB0397A045 G-3-36 8,468 .60 44 ,274 .02 105 .86 MANILA MIDTOWN HOTEL SB0397B062 G-3-36 1,013.05 2,309 .08 12 .66 GUOCO HOLDINGS SB0397B099 G-3- 37 177,096 .08 710 .01 2 ,2 13 .70 MANILA MIDTOWN HOTEL PIBL0696K4 G-3-37 9,236 .31 5,743 .10 115.45 GUOCO HOLDINGS SB0397B099 G-3-37 2 ,840 .02 1,392 .12 35 .50 ROBINSONS VENTURE CORP PIBL0696K4 G-3-37 22,972.41 5,743 .10 287 .16 GUOCO HOLDINGS SB0397B099 G-3-37 5,568.46 1,577 .04 69 .61 RFM PROPERTIES & HOLDINGS SB0397A027 G-3-38 22,972.41 4,594 .53 287 .16 CENTENNIAL CITY SB0397B099 G-3-38 6,308 .16 1,276 .93 78 85 FEB EQUITIES INC SB0397A0~7 G-3-39 18,378 .11 16,798 .02 22 9.73 GMA NETWORK INC. 5,107 .71 371 .16 6 3 .85 KSA REALTY CORP. .; 67 ,192 .09 40 ,412 .44 839 .90 JG SUMMIT PETROCHEMICAL CORP 1,484 .63 16,680 .96 18 .56 KIMBERLY CLARK SB0397A054 � G-3-39 161 ,649 .76 384 .97 2,020 .62 MANILA ELECTRIC COMPANY SB0397B099 G-3-40 66,723 .83 4,290 .27 834 .05 AYALA HOTELS , INC. S80397A027 G-3-40 1,539 .88 19,891 .92 19.25 CALTEX PHILS INC SB0397A045 G-3-41 17,161 .06 4,738 .16 214 .51 TIG TA 201 -00164 SB0397A054 G-3-41 73,567 .66 4 ,766 . 17 994 .60 S80397B062 G-3-41 18,952 .62 1,051.43 236 .91 S80397B062 G-3-41 19,064 .68 238 .31 SB0397A027 G-3-42 4,205 .71 52 .57 9 of 27 14J 0

1 J 1 �i SHOWA POLYMER PROCESS SB0397B080 G-3-43 2,546 .97 636 .74 31 .84 SHOWA POLYMER PROCESS SB0397B080 G-3-43 2,546 . 97 636 .74 31 .84 BLUEFUND SB0397A027 G-3-44 13,798.81 3 ,449 .70 172.49 MANILA SOUTHERN ASSOC. SB0697A020 G-3-51 20,394 .06 5,098 .52 254 .93 MAJOR SHOPPING CENTER SB0697A020 G-3-5 1 59,719 .00 14 ,929.75 746.49 MERCANTILE INSURANCE CO SB0697A020 G-3-52 2,835 .66 708 .92 35.45 FEDERAL PHOENIX SB0697A020 G-3-53 23,294 .94 5,823 .74 291 .19 EQUITABLE INSURANCE SB0697A020 G-3-53 11,399 .35 2,849 .84 142 .49 ROASTERS PHIL SB0397A054 G-3-53 4 ,546 .95 1,136 .74 56 .84 40,148 .54 10,037 . 14 501 .86 DIRECTORIES PHILS SB0397A054 G-3-53 202 .04 10.10 808 .16 4 ,078 .39 203 .92 TIG TA 101-00002 SB0697A020 G-3 -5 4 16,3 13.55 1,527 .71 76 .39 KEPPEL lVI INVESTMENTS SB0697A020 G-3- 54 15,523 .82 776 .19 CCC INSURANCE CO. SB0697A020 G-3-55 6 ,110 .84 3,703 .04 185.15 BANK OF SOUTHEAST ASIA SB0697A020 G-3-56 62,095 .28 167 .93 PILIPINAS SHELL PETROLEUM CORP. SB0397B080 G-3-57 14 ,812.16 3,708 .62 8.40 CALTEX PHILS INC SB0397B080 G-3-57 168 .02 185.43 CITYSTATE INSURANCE CORP SB0397B062 G-3-57 671.73 1,730 .57 ISABELITNJOSE GLIANE SB0697A020 G-3-58 14 ,834.47 7,089.15 8.40 UNITED PACIFIC CAPITAL CORP G-3-58 2,220 .98 86 .53 6A-I-08 672 .06 "! 2,160 .07 354.46 6,92 2.26 480.79 111 .05 ORIENTAL ASSURANCE SB0697A020 G-3-60 28,356 .59 3,310 .49 108 .00 8,883 .91 678 .74 24 04 UNILEVER PRC SB0397B080 G-3-60 8 ,640 .26 1,792 .35 165 .52 1,923 .17 63 ,336.93 33 .94 ORIENTAL ASSURANCE SB0697A020 G-3-60 13,241 .94 10,878 .67 89 .62 2,714 .95 3,522 .75 3,166 .85 FAMILY FUND II SB0397A045 G-3-61 7,169 .40 993 .25 543 .93 253,347 .72 34 ,251 .37 176.14 EQUITABLE INSURANCE SB0397A054 G-3-61 43,514 .68 (1 ,326 .90) 49 .66 14 ,091 .00 839 .44 1,712 .57 FORTUNE GUARANTEE & INSURANCE COR PIBL0696K4 G-3-61 3,973 .00 (66 .35) 137 ,005 .48 57 .15 41 .97 FAREASTFUND S80697A020 G-3-61 (5,307 .61) 192 .95 3,357 .75 2,914 .03 2.86 BLUEFUND SB0397B071 G-3-61 3,139.73 9.65 228 .61 729 .03 14 5 .70 BLUEFUND SB0397A045 G-3-62 771 .81 3,576 .21 156 .99 11,656 .13 2,484 .32 36.45 BLUEFUND S80397A045 G-3-62 12 ,558.91 532 .22 178 .81 2,916 .12 18,572 .26 124 .22 FEB INVESTMENTS SB0396L508 G-3-62 14 ,304 .83 822 02 26 .61 9,937 .28 1' 1 9 5 .65 928 .61 FAREASTFUND SB0396C105 G-3-62 2,128 .88 3,763 .84 41 .10 74 ,289 .03 371 .78 59.78 CIBELES INSURANCE SB0697A020 G-3-62 3,288 .08 188.19 4,782 .60 18 .59 WISLONTAN SB0397A027 G-3-62 15,055 .36 1,487 .11 PHILKO PEROXIDE CORP SB0397A027 G-3-62 AGOJO, MANOLO OR NORMA SB0397A027 G-3-62 MANILA ELECTRIC COMPANY ' SB0397B062 G-3-63 TIG TA 201 -00164 SB0397A045 G-3-63 BAYER PHILS INC SB0397A0~8 G-3-63 EDSA LRT DEVT CORP SB0397B062 ~ G-3-64 CALTEX PHILS INC PSIB0397AO G-3-64 CALTEX PHILS INC SB0397A045 G-3-64 UNILEVER PRC SB0697A020 G-3-66 FAREASTFUND SB0697A020 G-3-66 BLUEFUND SB0697A020 G-3-66 GOVERNMENT SERVICE INSURANCE PSIB0397AO G-3-67 VINTAGE ENTERPRISES SB0397A018 G-3-68 10 of 27 14 -J~_""..)

P.H. TING SB0397A027 G-3-68 887.45 221 .86 11 .09 TIG TA 101 -00007 SB0397A054 G-3-69 629.16 157.29 7.86 TIG TA 101-00148 SB0397A054 G-3-69 1,425.81 356.45 TIG TA 101-00164 SB0397A054 G-3-70 408 .54 102 .14 17 .82 TBGVTA SB0397A054 G-3-70 7,423 . 17 1,855 .79 5.11 ORIENTAL PETROLEUM & MINERALS SB0397A045 G-3-72 395 .15 FEB INVESTMENTS SB0397A027 G-3-73 18 ,246 .87 98 .79 92 .79 TIG TA 201-00128 SB0397B080 G-3-74 649 .80 4,561 .72 4 .94 TBGVTA SB0397B080 G-3-74 12 ,608 .99 TBG VTA SB0397A045 G-3-74 3,911 .38 162.45 228 .09 SM PRIME HOLDINGS SB0397C114 G-3-74 105,847 .5 1 3 ,152 .25 8.12 HUNTS URC PSIB0397AO G-3-78 793 .97 MANILA MIDTOWN HOTEL SB0397A045 G-3-78 793.96 977 .85 157 .61 FIRST FAR EAST DEVLT CORP SB0397A054 G-3-79 601,512.72 26 ,461 .88 48 .89 FIRST FAR EAST DEVLT CORP SB0697A020 G-3-79 288,677.70 FAREASTFUND SB0397C105 G-3-80 47,521 .06 198.49 1,323.09 FEBTC FAO BASIC PETROLEUM SB0697A020 G-3-80 16 ,145.51 198.49 9 .92 FEBTC FAO BASIC PETROLEUM SB0697A020 G-3-80 21 ,954.69 150,378 .18 9.92 FEB INVESTMENTS SB0397A045 G-3-83 120 ,237 .62 72 ,169.43 BLUE FUND SB0697A020 G-3-83 29 ,378 .21 11 ,880.27 7,518 .91 BZW SECURITIES INC PIBL0696K4 G-3-87 6 ,896 . 18 4,036 .38 3 ,608.47 ANDREW LAGMAY BL0696L507 G-3-87 752 .00 5 ,488 .67 GOVERNMENT SERVICE INSURANCE SB0397A054 G-3-88 9,732 .13 30 ,059.41 594 .01 SEABOARD EASTERN INSURANCE SB0397A054 G-3-89 4,581 .92 7,344.55 201 .82 UBP TA 4-105-96 SB0397A054 G-3-90 69 ,211 .60 1,724.05 274.43 TIG TA 201-00132 SB0397B080 G-3-92 188 .00 1,502.97 TBG VTA SB0397B080 G-3-92 29 .30 2,433.03 367 .23 UBPTISG SB0397B080 G-3-93 191 .72 1,145.48 DULCE FERNANDEZ SB0397A054 G-3-94 7,680 .55 17,302 .90 86.20 FEBTC FAO BACNOTAN SB0397B062 G-3-94 285 ,104.57 9.40 FEBTC FAO BACNOTAN SB0397A045 G-3-95 8,013 .61 7.33 FAREASTFUND SB0397B071 G-3-95 261 ,546 .89 47 .93 121 .65 FAREASTFUND SB0397C105 G-3-95 304 ,832 .97 1,920 .14 57 .27 FEB EQUITIES FUND SB0697A020 G-3-96 4,765 .11 71,276 . 14 BLUE FUND SB0397A054 G -3- 102 1,300 .98 2 ,003 .40 865 . 15 TOSHIBA ELECTRONICS SB0397A045 G-3-103 2,674.43 65,386.72 0 .37 TIG TA 116-00003 SB0397B080 G-3-103 9,003 .98 76,208 .24 2.40 TIG TA 181-00231 SB0397B080 G-3-103 ,546 . 16 1,191 .28 TIG TA 181-00290 SB0397B080 G -3- 103 5,642.47 325 .25 96 .01 TBG VTA SB0397B080 G -3- 103 1,553 .62 668 .61 3,563 .81 KIDEN DEVLT CORP SB0397B080 G-3 - 103 1,808 .25 2,251 .00 CONGLOMERATE SECURITIES SB0397A027 G-3-105 1,089 .89 136.54 100. 17 GS FUND SB0397A054 G-3- 105 3,522 .44 1,410 .62 3,269 .34 ASTEC POWER SB0397A054 G-3-1 06 4,235.78 388.41 3 ,810 .41 FEB EQUITIES FUND SB0397A045 G -3- 106 36,926 .63 452 .06 TIG TA 201 -00144 PIBL0696K4 G-3-111 1,797 .01 272.47 59 .56 898 . 19 880 .61 16 .26 1,058.95 33.43 9,231 .66 112.5 5 449 .25 6.83 224 .55 70 .53 19.4 2 22 .60 13.62 44 .03 52.95 461 .58 22.46 11 .23 11 of 27

TBGVTA PIBL0696K4 G-3-111 2 ,936 .63 734 .16 36 .71 CARITAS MANILA PIBL0696K4 G-3-114 7,649 .75 1,912.44 95 .62 FIRST FAR EAST DEVLT CORP SB0397A054 G-3-115 48,376 .31 12 ,094.08 604 .70 UNILEVER PHILS SB0697A020 G-3-116 38 ,565 .63 9,641.41 482 .07 FEB INVESTMENTS SB0397A027 G-3-117 33 ,955.63 8 ,488 .91 424 .45 BLUEFUND SB0697A020 G-3-117 18 ,421.44 4 ,605 .36 230 .27 ALFRED ANG/JEANNE ANG . SB0397A054 G-3-117 (4 , 166.48) (1 ,041 .62) (52.08) BLUEFUND SB0397C114 G-3-117 (153,202 .58) (38,300 .65) (1 ,915.03) BLUEFUND SB0697A020 G-3-117 (1 07 ,270.27) (26,817 .57) (1 ,340 .88) BLUE FUND SB0397A027 G-3-117 (36, 179.06) (9 ,044.77) (452 .24) BLUE FUND SB0397A027 G-3-118 (26,483 .04) (6 ,620 .76) (331 .04) BLUEFUND SB0397A027 G-3-118 (100 ,885 .95) (25 ,221.49) (1,261 .07) BLUE FUND SB0397A027 G-3-118 (7,447.43) (1 ,861 .86) (93 .09) FEBTC FAO BASIC PETROLEUM SB0397A027 G-3-119 5,797 .70 1,449.43 72 .47 FEBTC FAO RFM STOCK SB0397A027 G-3-119 15 ,647.43 3,911 .86 195.59 MANILA ELECTRIC COMPANY SB0397A054 G-3-119 10 ,466 .70 2,616 .68 130.83 SMC SHIPPING SB0397B062 G-3-120 6 ,363 .78 1,590.95 79 .55 TIG TA 181-00123 SB0397B080 G-3-122 FEB INFORMATION SB0397A054 G-3-122 275 .16 68.79 3.44 FAREASTFUND SB0397A045 G-3-123 73,922 .42 18,480.61 924 .03 FAREASTFUND SB1297C115 G-3-123 175,879 .51 43,969 .88 2,198.49 ANTONIO NAGUIT BL0696L516 G-3-125 77 ,871 .61 19,467 .90 973.40 PGA YASUDA INSURANCE SB0397A054 G-3-127 NORTHWEST INSURANCE SB0397A054 G-3-128 1,026 .83 256 .71 12 .84 EQUITABLE INSURANCE SB0397B062 G-3-132 7,835 .14 1,958 .79 97 .94 FEB LEASING & LEASING SB0397A045 G-3-135 10,967.53 2,741 .88 137 .0 9 FEB LEASING & FINANCE CORP SB0397A045 G-3-135 5,288 .26 1,322 .07 66 .10 MANILA INSURANCE INC SB0397A054 G-3-135 43,166.98 10,791 .75 539 .59 TIG TA 201-00026 SB0397A054 G-3-137 43,166 .98 10,791 .75 539 .59 TBGVTA SB0397A054 G-3-137 3,807 .16 47 .59 TIG TA 101-00006 SB03978080 G-3-137 2,109.17 951 .79 26 .36 TIG TA 101-00132 SB0397B080 G-3-137 27 ,647 .62 527 .29 345 .60 TIG TA 101-00153 SB0397B080 G-3-137 1,411.21 6,911 .91 17 .64 TIG TA 116-00004 SB0397B080 G-3-138 1,234 .81 352 .80 15.44 TIG TA 116-00005 SB0397B080 G-3-138 308 .70 TIG TA 116-00006 SB0397B080 G-3-138 774 .63 193 .66 9.68 TIG TA 116-00007 S80397B060 G-3-138 3,443 .68 860 .92 43 .05 TIG TA 116-00081 SB0397B080 G-3-138 214 .75 10 .74 TIG TA 181-00008 SB03978080 G-3-138 859 .01 598.24 29 .91 TIG TA 181-00375 SB03978080 G-3-139 2,392 .94 1,938.51 96 .93 TIG TA 181 -00377 SB0397B080 G-3-139 7,754 .04 2,816 .69 140.83 TIG TA 201-00132 SB0397B080 � G-3-139 11 ;266.74 14,547.45 727 .37 TIG TA 201-00164 SB03978080 G-3-139 58,189 .78 768.89 38.44 TIG TA 202-00039 SB0397B080 G-3-139 3,075 .54 1,288 .50 64.4 3 TIG TA 201-00132 SB0397B080 G-3-139 5, 154 .01 1,959 .60 97 .98 TIG TA 201-00164 SB03978080 G-3-139 7,838.40 387 .32 19.37 1,549 .28 1,288.50 64.43 5, 154 .01 1,9 59 .60 97.98 7,838.40 387 .32 19.37 1,5 49 .28 12 of 27

TIG TA 202-00039 SB0397B080 G-3-139 5,269 .06 1,317 .27 65 .86 TIG TA 220-00300 SB0397B080 G-3-1 40 4,417 .73 1,104.43 55 .22 ERLINDA SANTIAGO SB0397C114 G -3- 140 4,136.42 1,034 .11 51 .71 TIG TA 220-00301 SB0397B080 G-3-140 6 ,603 .59 1,650 .90 82 .54 TIG TA 220-00303 SB03978080 G-3-140 2 ,638 .36 32 .98 TBGVTA SB0397B080 G-3-140 253,6 81.96 659 .59 3,171 .02 ASTEC POWER SB0397A027 G-3-141 45,413 .12 63,420.49 567 .66 FEBTC FAO LORENZO SHIPPING BL0696K465 G-3- 143 .3,255.03 11,353.28 103.19 MANILA MIDTOWN HOTEL SB0397B062 G-3-144 11 ,086.25 138 .58 SOUTH CHINA PETROLEUM SB0397A054 G-3-144 7,932 .71 2,063 .76 99 .16 KSA REALTY CORP SB0397B071 G-3-145 110 ,444 .81 2,771 .56 1,380 .56 KSA REALTY CORP SB0397B071 G-3-145 28 ,290.31 1,983.18 353 .63 KAZUHIKO NAKAYAMA PISB0397AO G-3-145 3,500 . 14 27,611 .20 43 .75 GUOCO CERAMICS SB0397A045 G-3-146 33 ,086 .77 7,072 .58 413 .58 TIG TA 101 -00122 SB0397A054 G-3- 147 2,045 .74 25.57 TIG TA 101 -00137 SB0397A054 G-3-147 1,736 .61 875 .04 21 .71 TIG TA 101 -00138 SB0397A054 G-3-1 47 3,282 .28 8,271 .69 41 .03 TBG VTA SB0397A054 G-3-147 4,273 .32 53.42 TIG TA 281-00002 SB0397B080 G-3-148 2,780 .80 511.44 34 .76 TIG TA 181 -00003 SB0397B080 G-3- 148 2,794.91 434 .15 34 .94 TIG TA 181 -00191 SB0397B080 G-3 - 148 1,397 .46 820 .57 17.47 TIG TA 201-00084 SB0397B080 G-3-14 8 13,416 .98 1,068 .33 167 .71 TIG TA 201 -00020 SB0397B080 G-3-148 1,228 .07 695 .20 15 .35 TIG TA 181 -00132 SB0397B080 G-3-148 698 .73 11.47 TIG TA 101-00152 SB0397B080 G-3-148 917 .51 349 .37 17 .29 TIG TA 181-00281 SB0397B099 G-3-148 1,383 .34 3,354 .25 40 .67 TIG TA 181-00373 SB0397B080 G-3-1 48 3,253 .67 307 .02 14 .20 TIG TA 101-00014 SB0397B080 G -3- 149 1,136 .32 229 .38 73 .67 TIG TA 181 -00368 SB0397B080 G-3- 149 5,893 .31 345 .84 47 .02 TBG VTA SB0397B080 G -3- 149 3,761 .83 813.42 131 .10 FEB LEASING PISB0397AO G-3-149 10,487 .98 284 .08 322 .32 25,785 .30 1,473 .33 TOTAL 940 .46 82,152.63 2,622 .00 APRIL 6,446 .33 FE8TC FAO LORENZO SHIPPING p 6,572,210.12 p 1,643,052.53 p AMALGAMATED SPECIALTIES BPI ISIN NO. EXHIBIT INTEREST FINAL TAX GROSS MANILA ELECTRIC CO INCOME RECEIPTS MANILA ELECTRIC CO TAX SB03978080 G-4-1 270 .25 67 .56 3.38 8803978062 G-4-1 1,016.54 254 .14 12 .71 SB0397B080 G-4-1 6,963 .63 1,740 .91 87 .05 SB0397A054 G-4-2 4 ,625 .08 1,156.27 57 .81 SB0397A054 G-4 -2 9,095 .25 2,273 .81 113 .69 13 of 27 14 JJ

MANILA ELECTRIC CO SB0397A054 G-4-2 7,571.75 1,892.94 94 .65 FORTUNE GUARANTEE 305.16 76.29 3.81 FORTUNE MEDICARE SB0397B080 G-4-3 305.45 76 .36 3.82 � FEB EXCHANGE INC FEB INVESTMENTS SB0397B080 G-4-3 6,650 .17 1,662.54 83.13 GOVERNMENT SERVICE INSURANCE 3,196 .38 799 .10 39 .95 TBGVTA SB0397B080 G-4-4 8,847.58 110 .59 MANILA ELECTRIC CO 2,211 .90 MANILA ELECTRIC CO SB0397A018 G-4-4 419 .06 104.77 5.24 ROBINSONS LAND CORP 20,457.49 255 .72 MANILA INSURANCE CO SB0697A020 G-4-14 5, 114 .37 KNIGHTS OF COLUMBUS 285.23 71.31 3.57 FEB EXCHANGE INC SB0397C114 G-4-15 956 .00 11 .95 FEB EXCHANGE INC 276 .53 239 .00 FEB INVESTMENTS SB0397A054 G-4-16 168 .68 69 .13 3.46 FEB INVESTMENTS 14 , 174.41 42 .17 2.11 FAREASTFUND BIBL0696K4 G-4-16 11 ,454 .64 177.18 FAREASTFUND 7 ,982 .98 3,543 .60 143.18 PACIFIC UNION INSURANCE SB0397A045 G-4-16 3,150 .21 2,863 .66 99 .79 BLUEFUND 1,906 .33 1,995 .75 39.38 FEB INVESTMENTS SB0397B062 G-4-17 14,552 .98 23 .83 KIMBERLY CLARK 1,606.85 787.55 181 .91 MAGSAYSAY MANPOWER SB0397B062 G-4-17 4,742.39 476 .58 20 .09 ROBINSONS LAND CORP 1,185.48 3,638 .25 59 .28 FEB INVESTMENTS SB0697A020 G-4-18 13,669.85 401 .71 14.82 FEB INVESTMENTS 4,076.41 1,185.60 170.87 GUOCO CERAMICS SB0697A020 G-4-18 18,404 .83 296 .37 50 .96 GUOCO CERAMICS 11,440.48 3,417.46 230 .06 PHIL. LONG DISTANCE TEL. SB0697A027 G-4-18 2,136 .19 1,019.10 143.01 PHIL. LONG DISTANCE TEL. 20,376 .20 4,601 .21 26 .70 MANILA ELECTRIC CO 6A-I-08 G-4-18 40,612 .2 1 2,860 .12 254 .70 PHIL. LONG DISTANCE TEL. 53 ,585 .09 534 .05 507 .65 AYALA LAND INC SB0397A045 G-4-18 1,928.44 5,094 .05 669 .81 SA 101-0215304 33,239.46 10,153.05 24 .11 SA5101-04003-7 SB0397A045 G-4-18 17 ,941.25 13 ,39 6 .27 415.49 ASTEC POWER 23,310.73 482 .11 224 .27 ASTEC POWER SB0697A027 G-4-22 1,671.38 8,309 .87 291 .38 FEB INVESTMENTS 2,233.47 4,485 .31 20 .89 UBP TISG PISB0397AO G-4-22 11,809.44 5,827 .68 27 .92 GUOCO HOLDINGS (),551.07 417 .85 147.62 HUNTS URC SB0697A027 G-4-23 1,787.25 558.37 ORIENTAL PETROLEUM 2,563.44 2,952 .36 81 . 8~ ORIENTAL PETROLEUM SB0397A045 G-4-23 9,630.44 1,637.77 FEB EXCHANGE INC 7,273.37 446.81 22.34 FEB INVESTMENTS SB0397A045 G-4-24 321.57 640.86 32 .04 FEB INVESTMENTS 966.02 2,407 .61 120.38 SB0397A045 G-4-25 7,384 .75 1,818 .34 90 .92 16,792 .22 80 .39 SB0697A027 G-4-25 15,451 .17 241 .51 4.02 1,646.19 12.08 SB0697A027 G-4-27 4,198.06 92 .31 3 ,86 2 .79 209 .90 SB0397A045 G-4-2 8 193 .14 SB0397BOS9 G-4-28 SB0397C114 G-4-28 SB0397C114 G-4-29 SB0397A054 G-4-29 SB0397C114 G-4-29 SB0397C105 G-4-30 SB0397B071 G-4-32 SB0397B071 G-4-32 SB0697A027 G-4-32 . .. PISB0397AO G-4-32 SB0697A023 G-4-33 SB0397A045 G-4-33 SB0397B080 G-4-33 SB0397B080 G-4-33 PIBL0696K4 ..G-4-34 PIBL0696K4 G-4-34 SB0697A020 G-4-35 SB0697A027 G-4-35 SB0697A027 G-4-35 14 of 27 "14 0

FEB EQUITY FUND II SB0697A020 G-4-35 1,054.46 263 .62 13 .18 BLUEFUND SB0397B080 G-4-35 38 ,949 .25 9,737.31 486 .87 FEB EQUITIES FUND SB0697A020 G-4 -36 EQUITABLE INSURANCE CORP SB0697A020 G-4-43 126 .88 31 .72 1.59 VINTAGE ENTERPRISES . SB0397A045 G-4-43 7,082 .77 1,770 .69 88 .53 MERCANTILE INSURANCE SB0697A020 G-4-47 3,558.83 44.49 UBP TISG SB0397A045 G-4-47 4,791 .30 889.71 59.89 SOLID GUARANTY INSURANCE SB0697A020 G-4-48 3,784 .70 1,197 .83 47 .31 PACIFIC UNION INSURANCE SB0397A045 G-4 -48 3,062.38 38.28 KURODA HOYO PHILS SB1297C115 G-4-51 5,047 .95 946 . 18 63 . 10 GUOCO HOLDINGS SB0397B080 G-4 -51 21,086 .00 765 .60 263.58 TIG TA 116-00003 SB0397B080 G-4-54 20,735 .72 1,261.99 259 .20 TIG TA 201-00128 SB0397B080 G-4-54 1,273 .33 5,271 .50 15.92 TIG TA 201-00144 SB0397B080 G-4-54 2,172 .03 5,183 .93 27 .15 TIG TA 20 1-00148 SB0397B080 G-4-54 318 .33 TBG VTA SB0397B080 G-4-55 285 .01 543 .01 3.56 TBG VTA SB03978080 G-4-55 1,861 .74 23 .27 TBG VTA SB03978080 G-4-55 3,301 .96 71 .25 103 .77 TIG TA 181 -00289 SB0397C114 G-4-55 9,873.76 465.44 123.42 FEBTC FAO BASIC PETROLEUM SB0397C141 G-4-55 4,180.41 2,075.49 52.26 FAREASTFUND SB0397B080 G-4-57 2,101 .87 2,468.44 26 .27 TIGTA 101-00115 SB03978071 G-4-60 99,216 .50 1,045.10 1,240.21 TIG TA 101-00122 SB0397B071 G-4-60 10,070 .33 525.47 125 .88 TBG VTA SB0397B071 G-4-60 24 ,804 .13 WYETH PHILS SB0697A020 G-4-61 65 .39 2,517 .58 0.82 MAGSAYSAY MANPOWER SB0397A054 G-4-61 26 .90 0.34 ASTEC POWER SB0397A045 G-4-62 1,140 .62 16.35 14 .26 GSFUND BL0696K465 G-4-62 32 ,169.62 6 .73 402 .12 GSFUND BL0696K465 G-4-62 11,413 .06 285.16 142 .66 GSFUND BL0696K465 G-4-62 14 ,862 .36 8,042.41 185 .78 FEB INVESTMENTS SB0697A020 G-4-62 967 .90 2,853.27 12.10 FAREASTFUND SB0397BOE.O G-4-63 1,148.75 3,715 .59 14.36 MANILA ELECTRIC CO SB0397B062 G-4-64 451 .07 241 .98 5.64 WYETH PHILS SB0397B099 G-4-65 29,860.76 287 .19 373 .26 FEB INVESTMENTS SB0397A045 G-4-66 4,752 .78 112.77 59.41 FEB INVESTMENTS SB0397B080 G-4-66 48 ,088.97 7,465 . 19 601.11 MANILA ELECTRIC CO SB0397B062 G-4-67 3,024 .09 1, 188 .20 37 .80 FEBTC FAO RFM STOCK RIGHTS SB0697A020 G-4-68 25 ,196 .73 12,022 .24 314 .96 TIG TA 101 -00161 SB0397C105 G-4-69 1,546.59 756 .02 19.33 FEB EXCHANGE INC SB0697A020 G-4-69 58 ,604 .55 6 ,299. 18 732 .56 BLUEFUND SB0397A045 G-4-70 95,9.73.75 386 .65 1,199.67 FEB EQUITY FUND II SB0697A020 G :4-70 3 ,039 .65 14 ,651.14 38 .00 FEB INVESTMENTS SB0397A045 G-4 -70 4 ,489 .95 23,993.44 56 .12 FEB INVESTMENTS SB0397A045 G-4-70 31 ,654 .03 759 .91 395 .68 FEB INVESTMENTS SB0397A045 G-4-70 1,822.02 1,122.49 22 .78 FEB INVESTMENTS SB0397A045 G-4-70 17 ,500 . 13 7 ,913 .51 218.75 22,729 .81 455 .51 284 .12 583 .75 4,375 .03 7.30 62 ,061 .36 5,682.45 775 .77 145.94 15,515.34 15 of 27 14 _. -l.

MANILA ELECTRIC CO SB0397A054 G-4-75 14,451 .24 3,612 .81 180.64 TIG TA 101 -00050 SB0397B080 G-4-78 1,484.25 371 .06 18 .55 TIG TA 101 -00137 SB0397B080 G-4-78 663 .55 165 .89 8.29 TBG VTA SB0397B080 G-4-78 794.51 198.63 9.93 SWIFT FOODS INC SB0397B071 G-4-79 FEB INVESTMENTS SB0397B099 G-4-80 35 ,040 . 12 8 ,760 .03 438 .00 FEB INVESTMENTS SB0397C141 G-4-80 8,376.53 2,094 .13 104 .71 FEB INVESTMENTS SB0397A045 G-4-80 10 ,639 .21 531 .96 FEB EQUITY FUND II SB0397B062 G-4-81 42 ,556.83 1,164.64 MAGSAYSAY MANPOWER SB0397B062 G-4-81 4,658 .56 2,169.24 58 .23 FEB INVESTMENTS PIS80397AO G-4-81 8,676 .95 108.46 PHIL. AIRLINES S80397A054 G-4-83 1,252.40 313 .10 WYETH PHILS SB0697A020 G-4-85 6 ,625 .55 15 .66 TIG TA 101 -00152 SB03978099 G-4-86 26,502 .18 8,954 .81 331 .28 TIG TA 181 -00281 SB0397B099 G-4-86 35 ,819 .25 447 .74 TBG VTA SB0397B099 G-4-86 429 .76 FEB EXCHANGE INC SB0697A020 G-4-86 1,719 .0 3 2 ,548 .86 21.49 ASTEC POWER SB0397A045 G-4-86 10,195.44 127.44 TIG TA 101 -00050 SB0397B080 G-4-88 105.39 FIMA S803978071 G-4-88 421 .56 2,114 .62 5.27 TBGVTA SB03978080 G-4-88 8,458.48 18,275.88 105.73 TIG TA 201-00164 SB0397C105 G-4-88 73 ,103.53 913 .79 KIMBERLY CLARK SB0397C141 G-4-88 3,563 .49 890 .87 TIG TA 116-00010 SB0397C105 G-4-88 4,339 .26 1,084 .82 44 .54 TIG TA 101 -00169 SB0397C105 G-4-89 1 ,268 .33 54 .24 TBG VTA SB0397C105 G-4-89 2,032 .69 817.08 40 .85 FCC PHILS CORP SB0697A020 G-4 -89 508 .17 25 .41 MAKATIINSURANCE SB0397B099 G-4-89 529.93 132.48 TIG TA 201 -00136 SB0397B099 G-4-89 52 ,980 .97 13 ,245.24 6 .62 MANILA ELECTRIC CO SB0697A020 G-4-89 893.03 662 .26 TIG TA 101-00170 SB0397B099 G-4-89 3,572.11 3,096.16 JARDINE LAND INC SB0397B080 G-4-90 12,384 .63 170.5 1 44 .65 TIG TA 202-00028 SB0697A020 G-4-91 363 . 13 154 .81 UNILEVER PHILS SB0397B062 G-4-91 682 .05 330 .71 FEB EXCHANGE INC SB0697A020 G-4-91 1,452 .53 187.06 8.53 ASTEC POWER SB0397B071 G-4-92 1,322 .84 15,813 .48 18 . 16 SHELL GAS EASTERN SB0397A054 G-4-92 2,604 .35 16.54 FEB INVESTMENTS SB0397A045 G-4-92 748 .23 1,109.42 JOSE MARl LOPEZ SB0397B099 G-4-93 63, 253.90 9.35 WONG, ENCARNACION SB0697A020 G-4-93 10,417 .39 64 .89 790 .67 ENRIQUE/RAMONA DIMAANO SB0397B062 G-4-93 1,512.44 130 .22 01 09-00008-0 SB0697A020 G-4-93 4,437 .68 2,920.47 DULCE FERNANDEZ SB0697A020 G-4- 102 259 .56 55.47 TBG VTA BL0397B077 G-4-107 830 .82 3.24 JESUS/MYRNA PLANTILLA SB0397B080 G-4-107 6 ,049 .76 8,323.23 TBG VTA BL0696L516 G -4- 107 11,681 .89 1,431 .98 75 .62 2 ,053 .52 146.02 3,323 .26 33,292 .92 783. 93 41 .54 294 .19 416 .16 5,727 .92 11 ,425.62 8,214 .07 6,738 .38 71 .60 3,1 35.73 102 .68 1,176 .74 31 .55 45,702.49 1,769.56 39.20 26 ,953 .53 14 .71 178.56 571 .28 126 .20 336 .92 7,078 .25 1.58 714.24 88 .48 8.93 16 of 27

ORIENTAL PETROLEUM & MINERALS SB0397B080 G-4 - 110 1,097 .03 274 .26 13 .71 FEB MANAGEMENT INC SB0397C105 G-4-112 18,003 .06 4,500 .77 225 .04 FIMA BL0696K465 G-4-112 KIDEN DEVLT CORP SB0397C105 G-4 - 112 805 .23 201 .31 10 .07 TOSHIBA ELECTRONIC PHILS SB0697A020 G-4-113 1,938 .41 484 .60 24 .23 FEB EQUITIES FUND SB0697A020 G-4-113 5,515 .50 1,378 .88 68 .94 FEB INVESTMENTS SB0397A045 G-4-113 2,853.14 713 .29 35 .66 GSFUND BL0397B059 G-4-113 1'3,161 .57 3 ,290 .39 164 .52 GSFUND SB0397B080 G-4-113 12,834 .21 3,208 .55 160.43 FAREASTFUND SB0697A020 G-4- 114 3,036 .71 759 .18 37 .96 FEB INVESTMENTS SB0397A045 G -4- 114 4,178.43 1,044 .61 52 .23 ROASTERS PHILS SB0397B062 G-4-115 1,533.33 383.33 19 .17 MANDARIN INTL HOTEL SB0397C114 G-4 - 115 7,500 .63 1,875.16 93 .76 FEB INFORMATION TECHNOLOGIES SB0397C114 G-4-116 3,061 .06 765 .27 38 .26 TIG TA 116-00003 BL0696L516 G-4-116 17,579.45 4,394 .86 219.74 TBG VTA BL0696L516 G-4 - 116 RFM CORPORATION PIBL0696K4 G-4-119 239 .06 59 .77 2.99 FEB INVESTMENTS PISB0397AO G-4-120 118.64 29 .66 1.48 UNILEVER PRC SB0697A020 G-4-120 2,492 .52 623.13 31 .16 FEB EQUITIES FUND SB0397C105 G-4- 120 4 ,374.11 1,093 .53 54 .68 FEB INVESTMENTS SB0397A054 G-4-120 11 ,582.63 2,895 .66 144 .78 PACIFIC UNION INSURANCE SB0397A054 G-4-144 2,197.40 549 .35 27.47 FAREASTFUND SB0697A020 G-4-147 6 ,2 07 .98 1,552 .00 77.60 BLUEFUND SB0397C115 G-4 - 147 7,569.49 1,892 .37 94 .62 MANILA ELECTRIC CO SB0397D177 G-4-148 11 ,868.77 2,967 .19 148 .36 PHIL LONG DISTANCE TEL SB0397D177 G-4-149 11 ,674.87 2,918.72 145.94 TIG TA 101 -00140 SB0697A020 G-4 - 151 11 ,711 .23 2,927 .81 146 .39 CHUA, THOMAS SB0697A020 G-4-153 7,248.77 . 1,81 2. 19 90 .61 CHUA, THOMAS SB0697A020 G-4 - 153 3,022 .59 755 .65 37 .78 JOSE COWWAI SB0697A020 G-4-153 1,352 .51 338 .13 16.9 1 JARDINE DAVIES SB0397B062 G-4 - 154 10,732.26 # 2,683 .07 134 .15 JARDINE DAVIES SB0397B062 G-4-154 6,333.71 1,583.43 79 . 17 TBG VTA BL0696L516 G-4-154 2,411.32 602 .83 30 . 14 SHELL CHEMICAL CO OF THE PHILS SB0697A020 G-4-155 1,205 .78 301.45 15.07 SHELL GAS EASTERN SB0697A020 G-4 - 155 468 .62 117 .16 5.86 MAGSAYSAY MANPOWER SB0397D177 G-4-15 8 28,025 .84 7,006.46 350.32 ASTEC POWER SB0397D177 G-4-159 4,455 .31 1 '113 .83 55.69 FEB INVESTMENTS SB0397D177 G-4-160 953 . 18 238 .30 11 .91 FEB EQUITIES FUND SB0697A020 G-4 -160 4 ,420 .52 1, 105 .13 55 .26 PHIL LONG DISTANCE TEL SB0397D177 G -4- 164 47,796 .01 11 ,949 .00 597 .45 WYETH PHILS SB0697A020 G-4-167 1,319.02 329 .76 16.49 ASTEC POWER SB03978062 G-4- 170 44 ,205.45 11,051 .36 552 .57 FAREASTFUND BL1297D156 G-4� 170 10,701 .94 2,675.49 133 .77 FEB INVESTMENTS S80397A054 G-4 - 171 4,821 .80 1,205 .45 60 .27 TBG VTA SB0397C114 G-4-172 6,024.46 1,506 .12 75 .31 BOGO MEDELLIN MILLING S80397B062 G-4 - 173 1,440 .03 360 .01 18 .00 1,567 .17 391 .79 19.59 3,014 .35 753 .59 37 .68 17 of 27

ROASTERS PHILS SB0397B062 G -4- 173 5 ,189 .6 5 1,297.41 64 .87 MAGSAYSAY LINES SB0397B062 G-4- 173 10 ,015 .73 2 ,503 .93 125.20 GSFUND SB0697A020 G -4- 175 12,357 .05 3,089 .26 154.46 MAGSAYSAY LINES SB0397C114 G -4- 17 5 1' 150.17 KIDEN DEVLT CORP SB0397C115 G -4- 175 4 ,600 .66 57 .51 ORIENTAL PETROLEUM & MINERALS SB0397C115 G -4- 198 692.41 173 .10 8.66 SAN MIGUEL SB0697A020 G-4-198 440 . 13 110.03 5.50 PACIFIC UN ION INSURANCE SB0397B071 G-4-199 5,538 .04 SAN MIGUEL SB0397C114 G-4-199 22 ,152.14 113.19 276 .90 IB GIMENEZ SB0397D1F G-4 - 199 452 .74 1,244.78 5.66 TIG TA 101 -00002 SB0397C114 G -4- 199 243.28 TIG TA 181 -00162 SB0397C114 G -4- 199 4 ,979 .10 62 .24 SAN MIGUEL SB03970177 G-4-200 973 .10 19 .56 12.16 TBG VTA SB0397C114 G-4-200 78 .2.3 33 .65 TBG VTA BL0696L516 G-4-200 134.59 6,636 .06 0.98 UNILEVER PH ILS SB0397C105 G-4-200 286 .64 1.68 FEBTC FAO LORENZO SHIPPING SB0397D177 G-4 -200 26 ,544.2 5 1,986 .54 331.80 FEB LEASING SB0397C114 G-4-200 1,146.57 4 ,230 .26 14 .33 FEB LEASING SB0397C114 G-4-200 7,946 .17 341 .95 99 .33 FAREASTFUND SB0697A020 G-4-201 913 . 12 211 .51 FEB EQUITY FUND II SB0697A020 G-4-201 16,921 .03 57 .04 17 .10 1,367 .81 1,288 .78 45 .6 6 TOTAL 3,652.46 989 .63 2 .85 228 .17 64 .44 5,155.12 563,838.18 p 49 .48 3,958 .52 28, 191.91 p 2,255,352.73 p MAY GROSS RECE IPTS ISIN NO. EXHIBIT INTEREST FINAL TAX INCOME TAX JARDINE DAVIES , INC SB0697A020 G-5-2 4 ,500 .62 1,125.16 56 .26 JARDINE DAVIES, INC SB0397C114 G-5-2 4,433.51 1, 108 .38 55 .4 2 TIG TA 181 -00248 SB0697A020 G -5- 5 TIG TA 101-00114 SB0697A020 G -5- 5 523 .70 130.93 6.55 TIG TA 101 -00152 SB0697A020 G-5-6 220.93 55. 23 2.76 TIG TA 201 -00052 SB0697A020 G -5 -6 22 .63 1.13 TIG TA 101 -00005 SB0697A020 G -5- 6 90 .50 55. 96 2.80 TIG TA 102-00011 SB0697A020 G-5-8 223 .83 12.15 0.61 ASTEC POWER INC SB0397B062 G-5-8 18 .30 ASTEC POWER INC SB0397B062 G -5- 8 48 .61 366.00 28 .21 ASTEC POWER INC SB0697A020 G-5-8 1,463.98 56 4 .24 27.82 FEB EQUITY FUND II SB0697A020 G-5 -9 2,256 .97 556. 37 21 .62 AMALGAMATED SPECIALTIES CORP. SB03970177 G-5-10 2,225.46 432.50 22 .37 FORTUNE GUARANTEE & INSURANCE COR SB0697A020 G-5-11 1,729 .98 447 .36 63 .70 CARITAS MANILA SB0697A020 G-5-11 1,789.4 2 1,2 7 3 .91 14 .96 5, 095.63 299.2 0 27.68 1,196.81 553.51 2,214.03 18 of 27

RFM FOUNDATION INC SB1297C115 G-5-14 549 .19 137 .30 6.86 TA 220-00506 SB1297C115 G-5- 15 812 .95 203.24 10 .16 TIG TA 101 -00050 SB0397C114 G-5-15 301 .25 TIG TA 101 -00149 SB0397C114 G-5- 15 828 .97 75 .31 3.77 FEB INVESTMENTS INC SB0397B062 G-5-16 5,881 .62 207 .24 10.36 FEB EQUITY FUND II SB0397B080 G-5-16 1,605.09 1,470.41 73 .52 WALLEM PHILIPPINE SHIPPING SB0397D177 G-5-18 6,704.63 401 .27 20 .06 MERJE TRADING CO SB0397C114 G-5-18 531 .81 1,676 .16 83 .81 ROBINSONS LAND CORP. SB0697A020 G-5 - 19 4,983 .02 132 .95 ROBINSONS INC. SB0697A020 G-5-19 582.41 1,245 .76 6 .65 SAN MIGUEL CORP. SB0697A020 G-5-19 30,743.19 145.60 62 .29 CENTENNIAL CITY INC. SB0397B071 G-5-20 3,773 .63 7,685 .80 CENTENNIAL CITY INC. SB0397B071 G-5-20 970 .88 943.41 7.28 DIVERSEYLEVER SB0397C105 G-5-20 2,904 .71 242 .72 384 .29 GS FUND SB0697A020 G-5-21 6,205.14 726 .18 FEB INVESTMENTS INC SB0697A020 G-5-21 2,063 .30 1,551 .29 47 . 17 FEB INVESTMENTS INC SB0697A020 G-5-21 9,374 .57 515 .83 12.14 BLUEFUND SB0697A020 G-5-22 1,576.57 2,343 .64 36 .31 FEB INVESTMENTS INC BL0696K465 G-5-22 1,531 .00 394 .14 77 .56 FEB INVESTMENTS INC BL0696K465 G-5-22 523 .53 382 .75 25.79 CARITAS MANILA SB0697A020 G-5-43 3,212 .31 130.88 117 .18 TIG TA 101 -00164 SB0697A020 G-5-44 265 .98 803.08 19.71 TIG TA 201 -00017 SB0697A020 G-5-44 606 .37 19.14 TIG TA 101 -00164 SB0697A020 G-5-44 832 .76 66 .50 TIG TA 116-00006 SB0697A020 G-5-44 1,364.71 151 .59 6.54 TIG TA 116-00007 SB0697A020 G-5-44 726 .69 208.19 40 .15 TIG TA 116-00004 SB0697A020 G-5-45 2,921 .02 341 .18 JEREMIAS/JAMES BELOY SB0397B080 G-5-45 7,577 .92 181.67 3.32 TIG TA 201-00044 SB0697A020 G-5-45 208 .98 730 .26 7.58 FEB INVESTMENTS INC SB0697A020 G-5-49 2,064 . 16 1,894.48 10.41 FEB INVESTMENTS INC SB1297C115 G-5-49 211 .80 17 .06 GS FUND SB0697A020 G-5-49 1,739 .87 52 .25 9 .08 BLUEFUND SB0697A020 G-5-49 14,914 .54 516 .04 36 .51 FAREAST FUND SB0697A020 G-5-49 1,878.60 94 .72 FEB INVESTMENTS INC SB0397D177 G-5-50 225 .38 52 .95 2.61 FEB INVESTMENTS INC SB0697A020 G-5-50 720.44 434 .97 25 .80 UNILEVER PRC SB0697A020 G-5-52 5 ,40 5.47 3,728.64 2 .65 TIG TA 101-00137 SB0697A020 G-5-52 180.84 469 .65 21 .75 TIG TA 201-00007 SB0697A020 G-5-52 173 .95 186.43 TBG VTA SB0697A020 G-5-52 2,877 .89 56 .35 23.48 GS FUND SB0697A020 G-5-54 501 .20 180.11 2.82 ASTEC POWER INC SB0397B071 . G-5-54 9,277.74 1,351 .37 9.01 FEB INVESTMENTS INC SB0697A020 G-5-54 4,693 .36 67 .57 PERLAS, JOSE SB0697A020 G-5-55 557 .02 45 .21 2.26 MANILA ELECTRIC CO. SB0397E197 G- 5- 56 6,252 .44 43.49 2.17 TBG VTA SB0697A020 G-5-56 1,226 .73 719.47 35 .97 125 .30 6.27 2,319.44 115 .97 1' 173.34 58 .67 139.26 6.96 1,563.11 78 .16 306.68 15.33 19 of 27 '1 410

APOLONIO ROA SB0697A020 G-5-56 7,825 .77 1,956.44 97 .82 NATIVIDAD MONZON SB0397B071 G-5-57 472 .33 118 .08 5.90 COLGATE PALMOLIVE SB0397B080 G-5-58 887.56 HI CEMENT CORP . SB0697A020 G-5- 58 3,550 .24 44 .38 HI CEMENT CORP . SB0697A020 G-5-58 59,336 .77 14,834 .19 741 .71 COLGATE PALMOLIVE SB0397B080 G-5-58 32,529.69 8,132.42 406 .62 SAN MIGUEL CORP. SB0397D177 G-5-59 776 .56 STAR DARI INC SB0397E197 G-5-59 3,106 .23 760 .64 38 .83 HI CEMENT CORP . SB0397B080 G-5-59 3,042 .57 173.68 38 .03 FAREAST FUND SB0697A020 G-5-60 2,210 .23 BLUE FUND SB1297C115 G-5-60 694 .71 352 .68 8.68 TBGVTA SB0697A020 G-5-62 8,840.91 110 .51 WALLEM PHILIPPINE SHIPPING SB0397D177 G-5-63 1,410.70 11 ,753.49 M A K A T I I N S U R A N CE SB0697A020 G-5-63 47 ,013.95 426 .39 17.63 RAMON DURAND JR SB0397C114 G-5-63 1,705 .54 587 .67 SIME DARBY PILIPINAS SB0697A020 G-5-63 12,194 .85 3,048 .71 JG SUMMIT PETROCHEMICAL CORP. SB0397D177 G-5-64 237 .26 21 .32 AUTOMOTIVE TECHNOLOGY SB0397D177 G-5-64 949 .04 893 .75 152 .44 MADRIGAL WAN-HI LINES SB0397D177 G-5-65 3,575 .00 231.10 FEB INVESTMENTS INC SB0397B080 G-5-67 11 .86 CENTENNIAL CITY INC. SB0397B080 G-5-67 924.40 2,672 .78 44 .69 BATAAN SAVINGS & LOANS BANK SB0397C114 G-5-69 10,691 .10 4,471.57 11. 56 BATAAN SAVINGS & LOANS BANK SB0397C114 G-5-69 17,886.26 1,869 .20 133.64 BATAAN SAVINGS & LOANS BANK SB0397C114 G - 5-6 9 7 ,476 .80 223 .58 LAVADIA WILSON SB0397C114 G-5-69 309 .28 93.46 JAMES/JEFFREY YU SB0397C114 G-5-69 1,237.12 2,238.30 15 .46 ISMAEL!STELLA CAROLINO SB0397C114 G-5-69 8,953 . 19 111 .91 STA RITA, ANGELA SB0397C114 G-5-70 2,776 .92 694 .23 34 .71 JOSE LEECHAO SB0397C114 G-5-70 1,110.77 277 .69 13.88 LEGASPI VALENTINO/CECILIA SB0397C114 G -5 -70 1,110.77 277.69 13.88 VIDAL /LEILA ANG SB0397C114 G-5-70 1,767 .23 441 .81 22.09 BEARER ACCT. SB0397C114 G-5-70 145.24 7.26 JOHN/RACEL CHENG SB0397D177 G-5-71 580 .94 319.35 15.97 YUSINGCO, MERCEDITA SB0397C114 G-5-71 1,277 .39 1,117.16 55 .86 MICHAEL VOIRGILIO BAUTISTA SB0397C114 G-5-72 4,468 .63 152.46 7.62 BONIFACIO OR TRINIDAD SRA, ET. AL. SB0397D177 G-5-72 139.68 6.98 DR. ERLINO FORTADES SB0697A020 G-5-73 609 .82 4 .92 MARIA J./AUGUSTIN MARKING SB0397B080 G-5-73 558 .72 98 .30 14 .05 HELEN/FRANCISCO BAELLO SB0397C114 G-5-73 393 .21 281 .02 5.28 DAISY J./CHUTE J. CU SB0397B080 G-5-73 1,124.09 105.53 1.87 MANILA ELECTRIC CO. SB0397E197 G-5-75 422.12 13.97 PACIFIC UNION INSURANCE SB0397B080 G-5-79 149.96 37.49 32.97 KIMBERLY CLARK BL0697B052 G-5-79 1,117.43 279.36 15.13 CRISTINA DEL PRADO/ANALYN DIEGO SB0397C105 G-5-80 2 ,637 .74 659.44 14 .92 TRINIDAD YULO/MIGUEL COJUANGCO SB0697A020 G-5-80 1,210.19 302 .55 13 .88 MA. ROSARIO/DOLORES ALMEDA SB0397C105 G-5-80 1,193.53 298 .38 6.20 1,110.77 277 .69 144 .95 496 .22 124 .06 42 .91 11 ,595.77 2,898 .94 10 .55 3,432 .70 858 .18 36 .97 843 .82 210 .96 148 .05 2,957 .36 739 .34 3.72 11 ,843 .93 2,960 .98 297 .21 74 .30 20 of 27 '14 _:G

MB FINANCE CORPORATION SB0397D 177 G-5-82 8,896 .33 2, 22<1 .08 ; ' 1. 20 BLUE FUN D SB1 297C 11 5 G-5-88 38,444 .71 9,61 1.1 8 '� �). 56 FEB INVESTMENTS INC SB0397C 14 1 G-5-88 10,740.25 2,685. 06 BLUEFUND SB0697A020 G-5 -89 i. 25 FIMA SB0397C105 G-5-9 3 3,067.2<1 766. 81 38.34 CHINATRUST-TISD AS TRUSTEE SB0397 B080 G-5-94 800 .6 7 200.17 10 .0 1 MANILA ELECTRIC CO. S B0 397E2 01 G-5-96 900. 61 'l. 03 MAGSAYSAY MANPOWER SB0397D1 77 G-5-96 3,602 .42 4,588. 16 ROBINSONS LAND CORP. SB 0 697 A 020 G-5-97 18,352.65 139. 20 -.4 1 WYETH PHILS SB0697A0 20 G- 5-98 54 5. 15 � �. 96 PAC RIM REALTY & DEVELOPM ENT CORP SB0397 E201 G-5-98 556.78 5,32 2.49 TIG TA 181 -00294 SB0397 E201 G -5 -98 2,180 .61 764.28 .26 TIG TA 181 -00368 S B06 97 A0 20 G-5-98 2 1,289.94 268. 93 ��. 12 FEB INVESTMENTS INC SB03978 080 G-5-100 3,057.12 209. 84 '' .21 MANILA ELECTRIC CO. SB0397C 105 G-5-101 1,075.72 1,069. 41 .. 45 JG SUMMIT PETROCHEMICAL CORP . S B0 6 97A0 20 G-5- 102 5,61 6. 02 l_ 49 BLUE FUND S B0 397D177 G-5 - 104 839 .34 32<1 05 MANILA ELECTRIC CO . SB0397C1 14 G-5 - 106 4,277 .62 8 ,412. 20 .47 JARDINE DAVIES, INC SB0397C1 4 1 G-5-106 22,464 .08 2,627. 44 .30 JARDINE DAVI ES, INC SB0697A020 G-5-106 1,296.20 3,761 .54 20 CENTENNIAL CITY INC. SB0397D177 G-5-106 33,888 .78 1,442 .46 ' 61 WYETH PHILS SB0397C11 4 G-5-107 10,509 .76 8,21 6. 19 : .1. 37 FEB EQUITY FUND II SB0697A020 G-5 - 107 15 ,046 . 17 302 .93 ' .lJ 08 FEB INVESTMENTS INC S B0 697 A 02 0 G-5 - 108 5,769 .83 46'1. 18 . .! .12 JARDINE DAVIES, INC SB0397E201 G-5-1 19 32,864 .77 501. 60 � iO81 TIG TA 201 -00148 BL0 697 A 026 G-5- 129 1,21 1.73 4,496. 24 5.15 TIG TA 101 -00050 SB0697A02 0 G-5-130 1,856 .72 20 3.48 '3. 21 TIG TA 201 -00132 S B0697A0 20 G-5- 130 .'2,006.40 97 1.37 j _08 TIG TA 201 -00070 SB0697A0 20 G-5- 130 17 ,98 4 .96 24 3. 69 i .81 TIG TA 101-00132 SB0697A0 20 G-5-130 1,108.58 i J. 17 FE B INVESTM ENTS INC SB0 397E1 97 G-5-131 813 .93 183 .62 .lJ. 57 FEB EXCHANGE INC SB0397E1 97 G-5-132 3,885.48 15,805 .64 1J.. 18 BLUEFUND SB1 297C 11 5 G-5-132 9,9 7 1.78 '5 .43 TBG VTA SB0697A 020 G-5-134 974 .77 3,64 7.17 9. 18 PHIL LONG DISTANCE TELEPHONE CO S B0397 E2 01 G-5-135 4,434 .32 935. 50 0. 28 PHIL LONG DI STANCE TELEPHONE CO SB0 397 E1 97 G-5- 135 22 ,940. 71 �: J .59 TI G TA 101 -00006 S B0697 A 02 0 G-5- 135 734.48 17,405. 88 .:!. 36 TIG TA 181 -002 81 SB0697A020 G-5-135 63,222 .55 �' G 78 TIG TA 181 -00373 S B0697 A 0 20 G-5- 135 39,887 .10 34. 70 :. : i 7.04 TIG TA 181 -00375 SB0 697AO L0 G-5- 135 14,588 .66 137 .135 . i 0. 29 TIG TA 281-00097 S B069 7A020 G -5 - 135 33 06 1.74 ASTEC POWER S B0 397 C10 5 G-5- 137 3,742 .00 74 .52 4. 39 ASTEC POWER S B03 97 C 105 G-5- 138 91,762.85 93. 70 1. 65 UNILEVER PHILS SB0397 E201 G-5- 138 69,623 .50 2,88 7. 90 3. 73 FAREASTFUND S B0697A0 20 G-5- 138 3,52 9. 87 -1. 68 PENTA CAPITAL INVST. CORP. SB0397E1 97 G- 5- 139 138. 81 4,31 2. 29 . ' 1.40 35 1.41 265. 14 132 .23 587 . 12 '. 0.49 298. 08 ':) .61 37 4 .78 d .26 11,55 1.60 '' J.3 6 14, 119.48 17,249 .17 1,060.57 2,348 .46 71 of27 "14 �; r-J --� t

YUTAKA MANUFACTURING PHILS SB0697A020 G-5-139 881 .24 2 2 0 .31 11 .02 PENTA CAPITAL INVST. CORP. 73,328 .71 18,332.18 916 .61 PHIL LONG DISTANCE TELEPHONE CO SB0397E197 G-5-139 WYETH PHILS SB0397E201 G-5-139 986 .54 2 4 6 .6 4 12.33 FEB EQUITY FUND SB0697A020 G-5 - 139 6 ,855 .0 8 1,713 .7 7 85 .6 9 FEB EQUITY FUND II KOCHER, LAURA F. SB0697A020 G-5-142 688 .20 172 .0 5 8.60 GS FUND 2,624 .52 656 . 13 32 .81 BLUEFUND SB1297C115 G-5-142 8,876 .83 2,219 .21 110.96 PHIL LONG DISTANCE TELEPHONE CO SB0397E197 G-5-146 29,366 .34 7,341 .59 367.08 COSMOS BOTTLING CORP 74,735.60 1 8 , 6 8 3 .90 934 .20 COSMOS BACOLOD BOTTLERS INC SB0397D177 G-5- 147 27,141 .08 6,785.27 339 .26 TIG TA 201 -00136 6,664.76 1,6 6 6 . 19 83 .31 TBG VTA SB0697A020 G-5-149 2,756 . 19 6 8 9 .0 5 34.45 S & L INC 6,478 .91 1,619.73 80.99 S & L INC SB0397E201 G-5-155 2,574 .06 643 .52 32 .18 PURINA PHILS 2,143.41 535 .85 26 .79 SA 21 00-00086-1 SB0697A020 G-5-155 3,181 .15 795.29 39.76 UNILEVER PRC 45,660.03 11,415.01 570 .75 TIG TA 101 -00050 SB0697A020 G-5-155 8,742 .07 2,185 .52 109.28 TBG VTA 67,330 .39 16,832.60 841 .63 GS FUND SB0697A020 G-5-157 6,415 .84 1,603.96 8 0 .2 0 FEB EQUITY FUND II 4,247.64 1,061 .91 53 . 10 UNILEVER PRC SB0697A020 G-5-157 1,850.74 462.69 23.13 PEPITO/LUISITA RAMOS 13,020.64 3,255 .16 162.76 FEB LEASING & FINANCE CORP SB0697A020 G-5-158 2 ,223 . 11 555 .78 2 7 .7 9 TIG TA 116-00009 1,865 . 15 466 .29 23 .31 TIG TA 116-00007 SB0697A020 G-5-158 17,459 .29 4,364 .82 218 .24 TIG TA 116-00005 SB0397D177 G-5-159 16.44 0 .82 TIG TA 116-0004 65 .76 117.05 5.85 TBG VTA SB0697A020 G-5-160 4 6 8 .21 18 .5 8 0 .93 ASTEC POWER 84 .50 4 .23 WYETH PHILS SB0397D177 G-5-162 74 .31 16.60 0 .8 3 FEB EXCHANGE INC 338 .0 0 3,004 .50 150.23 FEB EQUITIES FUND SB0397D177 G-5- 181 1,182.43 59 .12 66.41 916 .38 45 .82 TOTAL SB0397D177 G-5-181 12,018 .00 (59 .74) (2 .99) JUNE SB0697A020 G-5-182 4 ,729 .70 378,060.89 p 18,903.04 3,665.52 SB1297C115 G-5-182 (238 .94) SB0697A020 G-5-182 SB0397C141 G-5-183 SB0697A020 G-5-183 SB0397D177 G-5-186 SB0397D177 G-5-186 SB0397D177 G-5-186 SB0397D177 G-5-186 SB0397D177 G-5-1 86 SB0397C105 G-5-186 SB0397D177 G-5-186 SB0397E197 G-5-186 SB0697A020 G-5-187 p 1,512,243.54 p ISIN NO. EXHIBIT INTEREST FINAL TAX GROSS INCOME RECEIPTS TAX PHILIPPINE LONG DISTANCE SB0397E197 G-6-2 23,387.42 5 ,846 .8 6 292 .34 MAKATIINSURANCE SB0397D177 G-6-2 4 3 9 .08 109.77 5.49 TIG TA 201-00128 SB0397D177 G-6-3 52.25 13 .06 0 .6 5 22 of 27 '1 4 ~ ._~, -~

TBGVTA SB03970177 G-6-3 428 .99 107.25 5.36 TBG VTA SB0697A020 G-6-3 142 .65 35 .66 1.78 COSMOS BOTTLING CORP SB03970177 G-6-4 3,832.43 47 .91 FEB INVESTMENTS SB0397C114 G-6-6 5,421 .77 958 .11 67 .77 FEB INVESTMENTS SB0397E201 G-6-6 23,961.07 1,355.44 299 .51 BLUEFUNO SB03970177 G-6-6 4 ,697 .03 5,990.27 58 .71 FIMA SB0397C141 G-6-8 4,349 .24 1'174 .26 54 .37 TIG TA 101 -00161 SB0397D177 G-6-9 191 .70 1,087.31 2.40 PHIL BRITISH ASSN. CORP SB0397D177 G-6-9 238 .80 2.99 TBG VTA SB0397D177 G-6-9 2,078 .90 47 .93 25.99 ASTEC POWER SB0397D177 G-6-11 4,715 .27 59.70 58 .94 WYETH PHILS BL 1297C102 G-6 - 11 5 ,345 .35 519 .73 66 .82 TIG TA 101 -00161 SB0697A020 G-6-21 1,178 .82 1.08 TBG VTA SB0697A020 G-6-21 86 .06 1,336.34 0 .35 TIG TA 201 -00148 SB0397D177 G-6-22 27.80 21.52 1.54 TIG TA 101-00161 SB0397D177 G -6 -22 123 .40 4 .37 TBG VTA SB0397D177 G-6-22 349 .75 6.95 49 .53 SAN MIGUEL CORP SB0697A020 G-6-22 3,962 .63 30 .85 54 .85 FEB INVESTMENTS SB0397E201 G-6-23 4 ,387 .80 87.44 29 .24 BLUEFUND BL 1297C139 G-6-23 2,339.15 990 .66 43 .04 BLUEFUND BL 1297C115 G-6-24 3,443 .22 1,096.95 108 .29 BLUEFUNO BL1297C115 G-6-24 8,663 .39 584 .79 90 .63 BLUEFUND BL1297C115 G -6 -2 4 7,250.65 860 .81 55 .74 UBPTISG SB0397E197 G-6-25 4,458 .96 2 ,165 .85 88 .30 TIG TA 181-00375 SB0397E197 G-6-27 7,064.04 1,812.66 8.77 JARDINE DAVIES SB0397D177 G-6-27 701 .90 1,114 .74 87 .35 MAKATIINSURANCE SB0397E197 G-6-27 6,988 .24 1,766 .01 17 .07 TIG TA 201-00105 SB0397E197 G-6-27 1,365.56 175.48 11 .25 TBG VTA SB0397E197 G-6-27 899 .91 1,747 .06 3.90 FEB EQUITIES FUND BL1297C139 G-6-31 312 .03 341 .39 59.80 DAVAO UNION CEMENT CORP SB0697A020 G-6-32 4 ,783 .78 224 .98 10.54 BLUEFUND SB0397D177 G-6-32 843 . 17 78.01 22.89 TIG TA 116-00010 SB0397E197 G-6-34 1,831.47 1,195.95 8.04 TIG TA 181-00368 SB0397E197 G-6-34 642 .87 210 .79 5.04 TBG VTA SB0397E197 G-6-34 403 .39 457.87 9.98 WYETH PHILS SB0697A020 G-6-37 798 .59 160.72 90 .95 UNILEVER PHILS SB0397C114 G-6 -3 7 7 ,275 .71 100.85 543 .74 UNILEVER PHILS SB0397C114 G-6-37 43,499 .33 199 .65 381 .04 UNILEVER PHILS SB0397C114 G-6-37 30,483 .05 1,818 .93 662.11 BLUEFUND SB0397D177 G-6-38 52,968 .69 10,874 .83 52 .72 UBP TISG SB0397E197 G-6-39 4 ,217 .59 7,620 .76 243 .71 UBPTISG SB0397E197 G-6-40 19,497.02 13,242 .17 30.45 TBG VTA SB0697A020 G-6-40 2,436.33 1,054.40 7.13 TIG TA 216-00171 SB0397D177 G-6-43 570 .09 4,874 .26 6.55 TBG VTA SB03970177 G-6-43 524 .01 609 .08 27 .03 UBP TISG SB0397E197 G-6-60 2,162 .07 142.52 179 .09 14 ,327.18 131 .00 540 .52 3,581 .80 23 of 27

;' TBG VTA SB0397D177 G-6-63 12 ,100.13 3,025 .03 151.25 UBP TISG SB0397E197 G-6-63 7,424.40 1,856.10 92 .81 ASTEC POWER SB0397E201 G-6-67 25,379.44 ASTEC POWER SB0397E197 G-6-67 101,517 .77 9,656 .93 1,268. 97 BLUEFUND SB0697A020 G-6-67 38,627 .73 482 .85 BLUEFUND SB0397D177 G-6-68 2,401 .73 600.43 30 .02 BLUEFUND SB0397D177 G -6-6 8 3,430 .06 857 .52 42.88 BLUEFUND SB0697A020 G-6-68 2,579 .06 644 .77 32 .24 BLUEFUND SB03970177 G-6-68 1,215 .84 303 .96 15.20 TIG TA 101-00050 SB0397E197 G-6-71 7,400 .99 1,850.25 92 .51 TIG TA 101 -00149 SB0397E197 G-6-71 747.43 186.86 9.34 MAKATIINSURANCE SB0397E197 G-6-71 1,933.80 483 .45 24 .17 TBG VTA SB0397E197 G-6-71 1,304 .25 326 .06 16 .30 UNILEVER PRC SB069 7A020 G-6-72 2,656 . 15 664 .04 33 .20 UNILEVER PRC SB03970177 G-6-74 13,686 .94 3,421 .74 171.09 SHARP PH ILS SB0697A020 G-6-74 138 ,827.45 34,706 .86 ASTEC POWER SB0397C141 G-6-74 20,154.37 5,038 .59 1,735 .34 GS FUND SB0697A020 G-6-74 19,814 .00 4,953 .50 251 .93 FEB INVESTMENTS SB0697A020 G-6-75 5,315 .58 1,328.90 247 .68 BLUEFUND SB1297C115 G-6-75 13 ,043 .60 3,260 .90 66.44 FEB EQUITY FUND II SB0697A020 G-6-75 3,255 .98 814 .00 163 .05 UBP TISG SB03970177 G-6-76 804 .08 201 .02 40 .70 UBP TISG SB0397E201 G-6-76 10,057 .79 2,514.45 10 .05 FEB EQUITIES FUND SB03970177 G-6-79 18,773.67 4,693.42 125 .72 BLUEFUND SB1297C115 G-6-79 219 .70 234 .67 TIG TA 101-00002 SB03970177 G-6-82 37,759 .09 54 .93 2.75 TIG TA 181-00162 SB0397D177 G-6-82 1,381 .06 9 ,439 .77 471 .99 TIG TA 201-00070 SB03970177 G-6-82 2,482.12 17 .26 TIG TA 201 -00120 SB03970177 G-6-82 1 ,252.41 345.27 31 .03 TBG VTA SB0397D177 G-6-83 1,941 .05 620 .53 15.66 FEB EQU ITIES FUND SB03970177 G-6-86 715 . 13 313.10 24 .26 FAREASTFUND SB1297C115 G-6-87 5,001 .27 485 .26 8.94 UBP FAO INSULAR LIFE SB0397D177 G-6-91 9 ,248 .39 178.78 62 .52 DAVAO LIGHT & POWER SB0397E197 G-6-91 45,437 .16 1,250.32 115.60 ASTEC POWER SB0697A020 G-6-92 37,298 .84 2,312 .10 567 .96 FEB INVESTMENTS BL1296L505 G-6-92 23,951.68 11 ,359.29 466 .24 BLUE FUND SB039 7D177 G-6-97 110 ,77 4 .45 9,324 .71 299.40 AMALGAMATED SPECIALTIES BL1296L514 G-6-99 10,031 .16 5,987 .92 UBPTISG SB0397E20 1 G-6-100 27,693 .61 1,384 .68 FEB EXCHANGE INC SB0397E197 G-6-104 ,. 2 ,507.79 125.39 FEB EXCHANGE INC SB0697A020 G-6-104 5,360.61 268 .03 FAREASTFUND SB0397D177 G-6-104 21.442.45 275 .50 13.78 FEBTC 216-00184 SB0397E197 G-6-105 1,102.01 3,929 .11 196 .46 UNILEVER PRC SB0397E201 G-6-114 11,657 .08 582.85 TERESITA/LOURDES DIZON SB0397E201 G-6-118 15 ,716.45 1,197 .79 59 .89 WYETH PHILS SB0697A020 G-6-121 46 ,628.33 3,123 .56 156 .18 11 ,514 .95 575 .75 4 ,791.15 9,851 .34 492 .57 12,494.25 1,545.90 77 .29 46 ,059 .81 39,405 .35 6,183 .59 24 of 27 142 0

CYANAMID PHILS. SB0697A020 G-6-121 5,352.69 1,338.17 66 .91 TBG VTA SB0397E201 G-6-121 17,807 .04 4,451 .76 222 .59 PURINA PHILS SB0697A020 G-6-122 14,856.96 3,714 .24 185 .71 CA 2000-00206-4 SB0397E197 G-6-124 1,351 .68 SA 21 00-00086-1 SB0397E197 G-6-124 5,406.70 1,123.56 67 .58 KSA REALTY CORP SB0397E201 G-6-124 4,494 .23 5,709.32 56 .18 FEB INVESTMENTS SB0697A020 G-6-124 :22,837 .29 285.47 PURINA PHILS SB0397E197 G-6-124 3,998 .77 999 .69 49 .98 FAREASTFUND BL1296L514 G-6-131 4 ,634 . 11 1,158.53 57 .93 BLUEFUND SB1297C115 G-6-131 9,437.00 2 ,359 .25 117.96 BLUE FUND SB0397D177 G-6-131 3,193 .30 39 .92 BLUEFUND SB0697A020 G-6-131 40 ,309 .72 798 .33 503 .87 MANILA MIDTOWN HOTEL SB0697A020 G-6-133 3,748 .77 10,077.43 46.86 EVERGREEN PHIL CORP SB0697A020 G -6- 134 8,147.13 101.84 DAVAO UNION CEMENT CORP SB0697A020 G-6-137 14,221.54 937 .19 177 .77 DAVAO UNION CEMENT CORP SB0697A020 G-6-137 16,515 .25 2,036 .78 206.44 FEB EXCHANGE INC SB0397E197 G-6-137 15 ,255 .01 3,555 .39 190.69 FAREASTFUND SB0397D177 G-6-138 15,401 .95 4,128 .81 192 .52 FAREASTFUND SB0397D177 G-6-138 13,031 .55 3,813.75 162.89 FAREASTFUND SB0397D177 G-6 - 138 19,151 .74 3,850.49 239 .40 6,228 .87 3,257 .89 77 .86 TOTAL 4,787 .94 p 1,471 ,390.10 p 1,557.22 18,392.38 JULY 367,847.53 p PEPITO/LUISITA RAMOS PURINA PHILS ISINNO. EXHIBIT INTEREST FINAL TAX GROSS FEB EQUITY FUND II INCOME RECEIPTS FEB INVESTMENTS FEB INVESTMENTS TAX BLUE FUND BLUE FUND SB0397E197 G-7- 11 70 .90 17 .73 0.89 BLUE FUND SB0397E201 G-7-12 4,751 .65 1,187.91 59 .40 BLUE FUND BL1296L514 G-7-20 BLUE FUND SB0697A020 G-7-20 66 .59 16.65 0.83 BLUE FUND SB0697A020 G -7-2 0 45,285 .72 11,321 .43 566 .07 BLUE FUND BL1296L505 G-7-21 BLUE FUND BL1296L514 G-7-21 3,347.60 836 .90 41 .85 BLUE FUND SB1297C115 G-7-22 485 .01 121 .25 6 .06 FEB EQUITY FUND II SB1297C115 G-7-2 2 616 .30 154.08 7.70 BLUE FUND SB1297C115 G-7-22 433 .65 108.41 5.42 SB1297C115 G-7-23 433 .86 108.47 5.42 SB1297C115 G-7-23 433.93 108.48 5.42 SB0397D177 G-7-23 308 .97 BL1296L514 G-7-23 1,235.86 119.70 15.45 SB1297C115 G-7-26 478 .79 840 .38 5.98 SB0397D177 G-7-26 645 .02 3,361 .53 2,398 .61 42 .02 2,580 .06 193.51 32 .25 9,594 .42 119.93 774 .03 9.68 25 of 27 14 ::.J ..

. � BLUE FUND SB0397D177 G-7-30 1,784.18 446 .05 22 .30 BLUE FUND SB0397D177 G-7-30 1,627.42 406 .86 20 .34 BLUE FUND SB0397E197 G-7-30 1,751 .68 437.92 21 .90 BLUE FUND SB0397E201 G-7-30 1 ,120 .99 280 .25 14 .01 FAREASTFUND SB0397D177 G-7-31 8,424.02 2 ,106 .01 105.30 BLUE FUND SB0397D177 G-7-35 94 ,349.38 23 ,587 .35 1'179 .37 BLUE FUND SB0397D177 G-7-35 23,285 .00 5,821 .25 291 .06 TBG VTA SB0397E201 G-7-68 2,489 .53 622 .38 31 .12 GSFUND SB0397D177 G-7-71 13,645 .63 3,411.41 170 .57 FEB INVESTMENTS BL1296L505 G-7-72 72,673 .34 18,168.34 908.42 FEB INFORMATION TECHNOLOGIES SB0397E201 G-7-72A 84 ,577.45 21 ,144.36 1,057.22 FEB EXCHANGE SB1297C115 G-7-72A 40,311 .76 10,077 .94 503. 90 FAREASTFUND SB1297C115 G-7-75A 13,842 .37 3,460 .59 173 .03 GILMER RESOURCES SB0397D177 G-7-78 FEB EXCHANGE SB0397E197 G-7-82 254 .89 63 .72 3.19 GSFUND SB0397E201 G-7-90 23 ,277.18 5,819 .30 290 .96 FEB INVESTMENTS SB0397E197 G-7-94 1,363 .70 DIRECTORIES PHILS SB0397E197 G-7 - 119 5,454 .81 68. 19 WYETH PHILS SB0397E197 G-7-123 1,449.67 362.42 18.12 WYETH PHILS SB0397E197 G-7-124 26,384 .15 6 ,596 .04 32 9.80 FAREASTFUND SB1297C115 G-7-130 66,748 .42 16 ,687 . 11 834 .36 FAREASTFUND SB1297C115 G-7-130 29,942 .26 7,485 .57 374 .28 FUJITSU DIE-TECH SB0397E197 G -7- 137 21,923.40 5,480 .85 274 .04 FUJITSU DIE-TECH SB0397E197 G-7-138 10,179.90 2 ,544 .98 127.25 WYETH PHILS SB0397E197 G-7-158 65 ,013 .31 16 ,253 .33 812.67 CIE REALTY SB0397E197 G -7- 158 18 ,950 .97 4,737 .74 236 .89 JOLLIBEE FOOD CORP SB0397E201 G -7- 159 20,346 .53 5,086 .63 254. 33 TIG TA 102-00011 SB0397E197 G -7- 164 20,898.92 5,224 .73 261 .24 MANILA MANDARIN HOTEL SB0397E197 G-7 - 173 !:'4,723.73 13,680 .93 68 4 .05 BLUE FUND Bl1296L514 G-7- 177 16,615 .87 4 ,153 .97 207.70 FAREASTFUND BL1296L514 G-7-177 24 ,216.93 6,054 .23 30 2.71 COMMODORE PHILS INC BL1296L514 G-7-187 7, 112 .31 1,778 .08 88.90 BLUE FUND Bl1296L514 G-7-188 9.86 788 .88 197.22 1.31 TOTAL p 104 .51 26.13 82. 66 6,613 .14 1,653.29 10,685.41 854,832.43 p 213,708.11 p AUGUST ISIN NO. EXHIBIT INTEREST FINAL TAX GROSS INCOME RECEIPTS MAJENT BUILDERS CORP FEBTC E-220-00537 TAX FORT BONIFACIO DEVT CORP SB0397E197 G-8-7 236.44 59 . 11 2.96 SB0397E197 G-8-10 9,428.49 2,357 .12 11 7.86 SB1297C115 G -8- 10 1,907 .20 476 .80 23 .84 26 of 27

FEBTC E-220-00537 SB0397E197 G-8-11 8,170.37 2,042 .59 102 . 13 FEBTC E-220-00537 BL1296L505 G-8-11 6 ,439 .70 1,609 .93 80.50 FEBTC E-220-00537 S80397E197 G-8- 13 3,911.68 48 .90 FAREASTFUND SB0397E197 G-8-13 1,385 .68 977.92 17 .32 FAREASTFUND SB0397E197 G-8-14 1,767 .00 346.42 22 .09 BLUEFUND S80397E197 G-8 - 14 2,414 .94 441 .75 30 .19 BLUEFUND SB0397E197 G-8-14 1,902 .95 603 .74 23 .79 BLUE FUND SB0397E197 G-8 - 14 2 ,339 .79 475 .74 29.25 BLUE FUND S81297C115 G-8-14 1,297 .31 584 .95 16.22 BLUEFUND S80397E197 G -8- 15 2,353.48 324 .33 29.4 2 BLUEFUND SB0397E197 G-8-15 1,877 .25 588 .37 23.47 BLUE FUND SB0397E197 G-8-15 1,551 .20 469.31 19 .39 TBG VTA SB0397E216 G-8-20 1,135.77 387.80 14 .2 0 FEB INVESTMENTS SB0397E201 G-8-23 2 ,283 .96 283 .94 28 .55 FAREASTFUND BL1296L514 G-8-28 3,199.46 570.99 39.99 CEBU INSULAR HOTEL S80397E201 G-8-62 5,084 .99 799 .87 63 .56 CEBU INSULAR HOTEL SB0397E201 G-8-62 8 ,057 .15 1,271 .25 CEBU INSULAR HOTEL SB0397E201 G-8-62 3,850 .84 2,014 .29 100.71 AYALA HOTELS S81297C115 G-8-63 6 ,667 .02 962.71 48 .14 AYALA HOTELS SB1297C115 G-8-63 4,007 .51 1,666 .76 83 .34 BLUEFUND S81297C115 G-8-65 3,872 .00 1,001 .88 50 .09 SA 2106-01422-8 BL 1297G288 G-8-70 968 .00 48.40 CA2000-00022-3 BL1296L514 G-8-74 777 .10 194 .28 9.71 WYETH PHILS BL12975252 G-8-75 3,458.26 864.57 4 3.2 3 TBGVTA CM4297H320 G-8-92 13,933 .11 3,483 .28 FAREASTFUND BL1296L505 G-8-93 29 .54 174 .16 BLUE FUND BL 12978139 G-8-93 118 .15 1,385.42 1.48 BLUE FUND BL 1297C1 29 G-8-93 5,541 .68 2 ,770 .66 MANILA INSURANCE CO BL 1297H312 G -8 -- 98 11 ,082 .63 16,314.38 69 .27 BLUE FUND BL 1297C139 G-8-103 65 ,257 .50 564.47 138.53 FAREASTFUND BL 1297G288 G-8-129 2,257 .89 2,184.71 815 .72 8 ,738 .84 2,861 .62 28 .22 TOTAL _ _1_1,446.47 109 .24 51,938.45 p 143.08 p 207,753.81 p 2,596.92 PREPARED BY: VERIFIED BY: ~~( . ~I N/A 'V7.Ut!.j3� /A?S<CtA$O~ ANNE BENITA M. SANTOS CHIEF TAX SPECIALIST SR . TAX SPECIALIST 27 of 27 14 .�:- ur

,. FAREAST BANK AND TRU ST COMPANY vs. AN NEX 8 COMMISSIONER OF INTERNAL REVENUE CTA CASE NO. 5763 SCHEDULE OF DISALLOWAN CES FOR TAXABLE YEAR 1997 PER BAN K' S CL A I M PER SGV VERIFI CATI ON PER COU RT'S VERIFICATION TOTAL DISfLLOWANCE SECURITIES/DEPOSITS FWT GRT FWT GRT FWT GRT FWT GRT Floating Rate p 3,280,508.37 p 164,025.42 p 2,487,028.81 p 124,351 .44 p 6,269.26 p 313.46 p 2,493,298.07 p 124 ,664 .90 Treasury Notes 3,592,136.14 122,707 ,800 .56 6,135,390.03 71,842,722.96 1,370,484.51 - - 71 ,842,722.96 3,592,136.14 Fixed Rate 1,601,471 .97 Treasury Notes 66,746,284.80 3,337,314.24 27 ,409 ,690.27 4,765,911.45 238,295.57 32,175,601.72 1,608,780 .08 137,093.69 32,029 ,439 . 84 1,601,471 .97 Treasury Bills 55,704,453 .47 2,785,222.67 32,029 ,439 .84 - - - 2,741 ,873.54 137,093.69 Trading Gain 70 ,618 .909 .06 3.530,945.45 2,741 ,873.54 - IBODI-Govemment ~ IBODI-Private Parties 25,494 ,389 .56 1,274.719.48 4 ,644,869 .96 232,243.50 - - 4,644 ,869.96 232 ,243 .50 ~ Interbank Call Loans 22,439,392.38 1,121,969.62 12,663 ,859 .39 633,192.96 9,775 ,532 .99 488,776.66 22 ,439 ,392 .38 1,121 ,969.62 t' -� 20,785,819.44 1,039 ,290 .97 - GSP Under Reverse - - - - - ~. Repurchase with CB 1.840,860 .39 92 .043 .02 - 1,101 .785.40 1.101 .785.40 55.089.26 - 55 ,089.26 ~' Deposit with Local Banks TOTAL p 389,618,418.03 p 19,480,920.90 p 154,921,270.17 p 7.746,063.47 p 14,547,713.70 p 727,385.69 p 169,468,983.87 p 8,473,449.1 6 .. - PREPARED BY: VERIFIED BY: ~~ - ~j~S<A.4I.hT,N_rAv,U.(B/.fjS'Ct~AO(ZI() ANNE BENITA M. SANTOS Chief Tax SpeCialist Sr. Tax Specialist