FPH Press Release 07 September 2011 Page 1 of 2

Press Release 07 September 2011 Reference: Maria Hazel B. Velasco (MBVelasco@fphc.com, 0917-596-8961)

FPH announces promotion of its executives

First Philippine Holdings Corporation’s (FPH) board of directors approved the promotion of five executives effective September 15.

Senior vice presidents Francis Giles B. Puno and Richard B. Tantoco were promoted as executive vice presidents. Vice presidents Perla R. Catahan, Anthony M. Mabasa, and Victor Emmanuel B. Santos were promoted as senior vice presidents.

“I am pleased to congratulate all of them on their promotions and recognize their outstanding leadership, dedication, and hard work through the years. Their contributions to our company have been invaluable and I wish them continued success," said FPH Chairman and CEO, Federico R. Lopez.

Puno is director and chief finance officer of FPH. He is also president and chief operating officer of First Gen, the company’s power subsidiary. Before joining FPH, he worked with The Chase Manhattan Bank as vice president for Global Power and Environmental Group. Puno has a Bachelor of Science degree in Business Management from the Ateneo de Manila University and a Master in Business Administration (MBA) from Northwestern University’s Kellogg Graduate School of Management in Chicago, Illinois.

Tantoco is president of FPH affiliate Energy Development Corporation. Prior to joining FPH, Tantoco was a member of consulting firm Booz Allen and Hamilton, Inc. based in New York. He has a BS in Business Management degree from the Ateneo de Manila University, where he graduated with honors, and an MBA in Finance from the University of Pennsylvania’s Wharton School of Business.

Catahan is comptroller of the FPH Group of Companies. She graduated Magna Cum Laude with a Bachelor of Science in Commerce (Major in Accounting) degree from the Philippine College of Commerce and pursued her Master in Business Management degree at the Asian Institute of Management.

FPH Press Release 07 September 2011 Page 2 of 2

Mabasa is president of First Philippine Industrial Corporation and ThermaPrime Well Services, Inc. He has a Bachelor of Science in Commerce degree, Major in Management of Financial Institutions, from the De La Salle University and pursued his MBA at the University of the Philippines.

Santos is First Gen senior vice president and FGP compliance officer. Before joining the company, he was Director for Global Markets at Enron Singapore. He earned his BS in Commerce, Major in Management of Financial Institutions, from De La Salle University and his MBA in Finance at Fordham University, New York.