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Letter-Introduction of Schuykill/Acres to Rural Banks

August 7, 2006

TO: ALL RURAL BANKS / COOP BANKS

FROM: ATTY. FRANCIS S. GANZON, PRESIDENT

SUBJECT: LETTER-INTRODUCTION OF SCHUYKILL/ACRES TO RURAL BANKS


We are pleased to introduce Schuylkill Asset Strategists Inc./ Asset Custody & Resolution Managers, Inc. (Schuylkill/ACRES), a Special Purpose Vehicle (SPV) solely dedicated to assist your rural bank in the disposal of your non-performing assets (NPAs). Organized and created under Republic Act No. 9182, also known as the SPV Act of 2002, Schuylkill/ ACRES, which has a track record in this specialized field, has the reputation of professionalism and transparency in the implementation of their SPV mandates consistent with legal requirements.

As a new partner of RBAP, Schuylkill/ACRES offers you the opportunity of improving your capital structure, particularly your capital adequacy ratios, through the disposal of your non-performing assets (NPAs). It provides for a mechanism to transform unproductive assets into investment options. As a result, it allows your operation the flexibility and latitude to be an effective intermediary of banking and financial services in the countryside.

We are earnestly encouraging you to engage the services of Schuylkill/ACRES to address your NPA concerns with the objective of significantly reducing them for the enhanced profitability and stability of your bank. Moreover, this facility can be availed of only until May 2008, the termination date of the 2-year extension for NPA transfers/sale under the amended SPV Law signed in April 2006. Thus while we have this opportunity, we are enjoining you to benefit from it.

For your interest and reference, you may contact the following numbers:

Ms. Nora O. Vinluan
Vice Chairperson & COO
SCHUYLKILL Asset Strategists (SPV-AMC) Inc.
Unit 119, LRI Bldg. Plaza, N. Garcia St.,1209
MakatiCity
Tel #: (632)899- 6712
E-mail: nora.vinluan@acresmanagers.com
Mobile:+63920-9386121

Mr. Crisostomo L. Martin
General Manager
Asset Custody & Resolution Mngr, Inc.
1856 Asuncion St., Santiago Village,
Brgy. Valenzuela, 1209, Makati City
Telefax # (632) 896-4397/ (045) 963-9508
E-mail: tom.martin@acresmanagers.com
Mobile: +63 920-9386120