SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Jan 15, 2018

2. SEC Identification Number

34218

3. BIR Tax Identification No.

000-153-610-000

4. Exact name of issuer as specified in its charter

Ayala Corporation

5. Province, country or other jurisdiction of incorporation

Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

32F to 35F, Tower One and Exchange Plaza, Ayala Triangle, Ayala Avenue, Makati City Postal Code 1226

8. Issuer's telephone number, including area code

(02) 908 3000

9. Former name or former address, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares	621,292,010
Preferred B Series 1 Shares	20,000,000
Preferred B Series 2 Shares	27,000,000
Voting Preferred Shares	200,000,000

11. Indicate the item numbers reported herein

Item 9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Ayala CorporationAC

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Clarification of news article entitled, “Super consortium in NAIA bid eyes Changi as partner”

Source	http://www.philstar.com/
Subject of News Report	Super consortium in NAIA bid eyes Changi as partner
Date of Publication	Jan 15, 2018

Clarification of News Report
This refers to the request to clarify the news article entitled “Super consortium in NAIA bid eyes Changi as partner” posted in philSTAR.com on January 15, 2018. The article reported in part that: “MANILA, Philippines — The super consortium of conglomerates seeking to develop the congested Ninoy Aquino International Airport (NAIA) is planning to partner with Changi Airports International (CAI), the group behind Singapore Changi Airport, touted as one of the world’s best. . . . . Industry sources said the super consortium of mammoth conglomerates is getting Changi as its technical partner. Members of this consortium are the Aboitiz Equity Ventures, Ayala Corp., Alliance Global Inc., Lucio Tan Group, Filinvest Land Inc., JG Summit Holdings Inc. and Metro Pacific Investments Corp. The super consortium is looking to submit its unsolicited proposal within the first quarter, sources said. The group is seeking to develop NAIA into a world-class airport that is at par with the world’s best gateways. . . . .” We wish to clarify that the consortium is in discussions with several airport operators for potential partnership in the planned unsolicited proposal, in line with our desire to give the Philippines the best possible gateway airport at the soonest possible time. We also wish to clarify that no definitive agreement has been executed to date.
Other Relevant Information
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