Vicente R. Ayllón
Chairman - Executive Committee

Associate in Commercial Science, San Juan de Letran College
B.S. Commerce, University of the East
Chairman & CEO: The Insular Life Assurance Co., Ltd.
Chairman & President: Insular Life Property Holdings, Inc.
Chairman: Insular Investment and Trust Corp.; Insular Life Health 
    Care, Inc.; ILMADECO; Home Credit Mutual Buidling & Loan 
    Association; Insular Life Foundation; Asian Hospital, Inc.
Vice Chairman: Union Bank of the Philippines; Mapfre Insular 
    Insurance Corp.
Director: Pilipinas Shell Petroleum Corp.; Shell Company of the 
    Philippines, Ltd.; The Palms Country Club; Philippine Hoteliers, 
    Inc. (owner of Dusit Thani Manila)

Edilberto B. Bravo
Chairman - Finance & Investment Committee
Member - Executive Committee
                  Personnel and Compensation Committee

Bachelor of Laws, B.S. Jurisprudence, University of the Philippines
Chairman and CEO: U-Bix Corporation
Chairman: Facilities Managers, Inc. (Service MASTER); EastWest 
    Capital Corp. (Member, Philippines Stock Exchange); 
    Compufax Corporation; Bookhaven, Inc.; U-Bix Subic Bay 
    Corp.; Federated Realty Corp.; Facilities Management 
    Academy; Filtek Safeway Corporation; Bravo Golf Corporation; 
    Bravo Coffee Corporation.
Director: Insular Life Health Care, Inc.; Insular Investment & Trust 
    Corporation; Union Bank of the Philippines
Member: Philippine Bar Association; Integrated Bar of the 
    Philippines; New York State Bar Association; American Bar 
    Association; Australian New Zealand Chamber of Commerce of 
    the Philippines Inc.; Pacific Basin Economic Council (PBEC); 
    Management Association of the Philippines; Phil. Chamber of 
    Commerce & Industry; Employers Confederation of the Phils.; 
    European Chamber of Commerce of the Phils.; Japanese 
    Chamber of Commerce & Industry of the Philippines, Inc.; Paul 
    Harris Fellow, Rotary International 
Past President, Rotary Club Makati North; The Country Club.

Cesar C. Cruz
Chairman - Governance Committee
Vice Chairman - Personnel and Compensation Committee, Nominations Committee
Member - Budget and Audit Committee

Bachelor of Laws (1957), University of the Philippines
Managing Partner: Cesar C. Cruz & Partners Law Offices
Trustee/Director: The Insular Life Assurance Company, Ltd.; Insular 
    Investment and Trust Corporation; Robert Bosch Communication Center, Inc
President/Director: Celereica Holdings, Inc.; C&L Siblings 
    Investments, Inc.; Firstselect Investors, Inc.; Lisar Development 
    Corporation; Legal Investors, Inc.; Boston Properties, Inc.; 
    Bauer Foundations Philippines, Inc.; Ebro Armaturen 
    Philippines, Inc.; MAN Diesel Philippines Inc.
Secretary/Legal Counsel: Sojitz Philippines Corporation; Sojitz 
    Corporation; European Chamber of Commerce of the 
    Philippines Inc.; Planters Development Bank; IHI Philippines, 
    Inc.; Ishikawajima Harima Heavy Industries Co., Ltd.; 
    RealNetworks Philippines; Sara Lee Corporation; PiPlay Inc.; 
    Outsourcing DBA Philippines Inc.; Laguna Electronics Inc.; LEI 
    Global Corporate Services, Inc.; Career Power Professional 
    Management Services, Inc.; Tsukiden Software Philippines, 
    Inc.; Philippine Software Bridge Business, Inc.; Shiang Shang 
    Electronics Manufacturing Company Phils., Inc.; Liberty 
    Commodities Corporation; Lyric Piano & Organ Corporation
Member: Integrated Bar of the Philippines; Philippine Bar 
    Association; European Chamber of Commerce of the 
    Philippines, Inc.; Philippine French Business Council; 
    International Trademark Association; Association Internationale 
    Pour la Protection De La Propriete Industrielle (AIPPI); 
    European Community Trademark Association; Institute of 
    Trademark Attorneys (UK); Intellectual Property Association of 
    the Philippines; Asian Patent Attorneys Association; Licensing 
    Executives Society of the Philippines; Legal Management 
    Council of the Philippines; Makati Rotary Club; Manila Golf and 
    Country Club, Inc.; Sta. Elena Golf and Country Club; Manila 
    Polo Club; Midland Golf and Country Club, Inc.; Splendido Golf 
    and Country Club

Delfin L. Lazaro
Member - Budget and Audit Committee
                   Finance & Investment Committee

B.S. Metallurgical Engineering, University of the Philippines
Master in Business Administration, with Distinction, Harvard 
    Graduate School of Business
Chairman: Atlas Fertilizer and Chemicals, Inc.; Philwater Holdings 
    Company, Inc.
Vice Chairman & President: ASIACOM
President & Director: Azalen Technology Investments, Inc.    
Managing Director: Lazaro, Bernardo, Tiu and Associates, Inc.
Member - Ad Hoc Board, AC Capital
Member of the Board: Ayala Land, Inc.; Insular Life Assurance Co., 
    Ltd.; Integrated Microelectronics, Inc.; Manila Water Company, 
    Inc.; Ayala Automotive Holdings Corp.; Ayala DBS Holdings, 
    Inc.; Probe Productions, Inc.; Ayala International Holdings, Ltd.; 
    AG Holdings Ltd.; Bestfull Holdings Ltd.; AI North America;
    Empire Insurance Company

Ricardo G. Librea
Member - Governance Committee
                  Budget and Audit Committee
                  Personnel and Compensation Committee

B.S. Business Administration (1957), University of the East
Certified Public Accountant
Director: Nextstage, Inc.;
Director & Chairman of Audit Committee: Insular Investment & Trust 
    Corporation 
Consultant: Financial & Tax Concerns
Member of the Board of Trustees: Makati Rotary Club Foundation, 
    Inc.
Past President: Financial Executives Institute of the Philippines 
    (FINEX); Rotary Club of Makati
Past Chairman: FINEX Research & Development Foundation, Inc.
Member: Management Association of the Philippines

Mayo Jose B. Ongsingco
Member - Executive Committee, Nominations Committee
                  Finance and Investment Committee

AB Economics, Magna Cum Laude, De La Salle University
BSC Accounting, Magna Cum Laude, De La Salle University
Master of Business Administration, University of the Philippines
Master of National Security Administration, National Defense College of 
    the Philippines
President and Chief Operating Officer: The Insular Life Assurance Company, 
    Ltd.
Chairman: Insular Life Employees' Retirement Fund; ILAC General 
    Insurance Agency, Inc    
Vice Chairman (Board), ExCom Member & President: Insular Life Health 
    Care, Inc.
Vice Chairman & President: Insular Life Management & Development 
    Corp.
Vice Chariman (Board): Insular Life Property Holdings, Inc.
Vice Chairman (Board/ExCom): Home Credit Mutual Building & Loan 
    Association, Inc.
Director / ExCom Member: Insular Investment & Trust Corporation
Director: Insular Life Foundation; Mapfre Insular Insurance Corp.; 
    Asian Hospital, Inc.; Keppel Philippines Holdings; Union Bank 
    of the Philippines; PPI Prime Venture, Inc. (formerly Pamplona Realty, Inc.);
    Pilipinas Shell Petroleum Corporation; Subic Shipyard & Engineering

Antonio H. Ozaeta
Chairman - Personnel & Compensation Committee
Vice Chairman - Executive Committee
                              Budget & Audit Committee

B.S. Economics, with honors, Ateneo de Manila
B.S. Business Administration, Cum Laude, De La Salle University
Master in Business Administration, Harvard University
President and Director: Philippine Trust Company (PHILTRUST 
    Bank)
Chairman: Magellan Capital Holdings Corp.; Magellan Utilities 
    Development Corp.; Philippine Commercial Capital, Inc.; PCCI 
    Insurance Brokers, Inc.; PCCI Finance Corp.; PCCI Securities 
    Brokers, Corp.
Vice Chairman:  Alaska Milk Corp. 
Director: Insular Life Health Care, Inc.; Home Credit Mutual Building 
    & Loan Association, Inc.; Melitona Estate, Inc.
Member: Board of Trustees, University of Asia and the Pacific

Alfredo B. Paruñgao
Chairman - Nominations Committee, Budget and Audit Committee
Vice Chairman - Finance and Investment Committee
Member - Executive Committee

B.S. Commerce, Summa Cum Laude, Far Eastern University
    Certified Public Accountant
Chairman: Philtown Properties Inc.    
Director: Insular Investment & Trust Corporation
     U-Bix Corporation; Swift Foods, Inc.
Director and Vice President: P&GERS Fund Inc.
Director and Treasurer: DS Realty, Inc.
Chief of Staff: Office of the Chairman, Social Security Commission
President: CIBI Foundation, Inc.; Ligaya Management Corporation
Former Senior Vice President & Chief Finance Officer: Fort Bonifacio 
    Development Corporation
Former President & CEO: Philippine Global Communications, Inc.
Former Executive Vice President & Chief Operating Officer: 
    Philippine National Oil Company

Bernardo M. Villegas
Vice Chairman - Governance Committee
Member - Finance and Investment Committee
                  Personnel and Compensation Committee

Bachelor of Arts, Summa Cum Laude, De La Salle University 
Bachelor of Science in Commerce, Summa Cum Laude, De La Salle 
    University 
Fourth Place, Board Exam for Certified Public Accountant (CPA)
M.A. in Economics, Harvard University
Ph.D. in Economics, Harvard University
University Professor: University of Asia and the Pacific
Visiting Professor: IESE Business School, Barcelona, Spain
Consultant on Strategic Planning and Management Development or 
     Member of the Board of Directors of leading firms in the 
     following industries: food and beverage, sugar milling, pharmaceutical, 
     electric power, banking, information technology, construction, 
     agribusiness, trading, transportation and engineering
Columnist: Manila Bulletin, Philippine Daily Inquirer and Asian Tiger
Member of the Board of the Makati Business Club, PHINMA 
    Foundation and Dualtech Foundation