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SBS Philippines CorporationSBS

PSE Disclosure Form 4-29 - Disbursement of Proceeds and Progress Report References: Memorandum No. 626 - 2007 dated December 20, 2007
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Changes in the Use of Net Proceeds from Initial Public Offering

Background/Description of the Disclosure

Variation in, and extension of the time frame for, the utilization of the remaining unutilized balance of the IPO proceeds.

Other Relevant Information

Please refer to attached letter to the PSE showing details of the change in the use of the remaining balance of the IPO Proceeds

Filed on behalf by:
Name Regina Simona De Guzman
Designation Corporate Secretary and Compliance Officer