Merger of Banco de Oro Unibank, Inc. with its Subsidiaries, namely, BDO Elite Savings Bank, Inc., Equitable Savings Bank, Inc. and PCI Capital Corporation

Bangk ko Sentral ng Pil binas

OFFICE OF THE DEPUTY GOVERNOR SUPERVISION AND EXAMINATION SECTOR

CIRCULAR LETTER NO. CL-2008- 074

To ALL BANKS ANd NON-BANK FINANCIAL INSTiTUtIONS

Subject: Merger of Banco de Oro Unibank, Inc. with its Subsidiaries, namely, BDO Etite Savings Bank, Inc., Equitable Savings Bank,

Inc. and PCi Capital Corporation

30 October 2008 the Plan of Merger and Articles of Merger executed on 9 May 2008, by and among BANCO DE ORO UNIBANK, INC. {BDO}, surviving corporation, and BDO ELITE SAVINGS BANK, INC. (BDO Elite), EQUITABLE The Securities and Exchange Commission (SEC) approved on

Savings BAnK, inc. (Esb), and Pci cAPitAL corPorAtiOn (PcIcc)) absorbed corporations, whereby the entire assets and liabilities of BDO Elite, ESB and PCiCC will be transferred to and absorbed by BDO

The approval took effect on 30 October 2008

For information and guidance

2 00 nestor a ESPENiM 1R

Deputy Goverrit

November 2008

PananalapIng Matatag, Bansang Panatag

A. Mabini St., Malate 1004 Manila, Philippines Trunktine (632) 524-70-11 URL:www.bsp.gov.ph e-mail: [email protected]