On March 31, 2009, the Board of Directors, upon recommendation of the Nomination Committee, elected Mr. Rodrigo B. Supena as Independent Director of the Company. Mr. Supena, a seasoned banker who previously held various key positions in Land Bank of the Philippines and Bank of the Philippine Islands, is currently a Consultant of Land Bank of the Philippines and a Board Member of LBP Leasing Corporation. Mr. Supena shall also serve as an Independent Director of Interport Resources Corporation.