Merger by and between the Network Rural Bank, Inc. and Capitol Rural Bank of Tacurong (Sultan Kudarat), Inc.

Ban 8 na 2inas

Maynila, Pilipinas

SUPERVISION AND EXAMINATION SECTOR OFFICE OF tHE DEPUTY GOVERNOR

CIRCULAR-LETTER Saries of 2002

TQ: ALL BANKS AND NON-BANK FINANCIAL INSTITUTIONS WITH QUASI-BANKING FUNCTIONS

The Securities and Exchange Commission (SEC) approved on July 30, 2002 the Articies of Merger and Plan of Merger executed on April 10, 2002, and on December 1, 2000 and August 28, 2001, respectiveiy, by and between the Network Tacurong (Sultan Kudarat), Inc. (Absorbed Corporation), whereby the entire Rural Bank, Inc. (Surviving Corporation) and the Capitol Rural Bank of

assets and jiabilities of the Capitol Rural Sank of Tacurong (Sultan Kudarat). Inc. will be transferred to and absorbed by the Natwork Rura! Bank, Inc.

The merger took effect on July 30, 2002

For information and guidance.

ALBERTO Deputy Governor MREYES

AQ t"V

MAG-MPOK SA BANGKC