Insular Life Health Care, Inc.

2007 was a record year for I-Care as it posted its highest-ever revenues of P274.8 million from P254,5 million the previous year. Net income amounted to P18.8 million. Total assets stood at P287.1 million while return on equity was at 12% from 20%. The company ended the year with total retained earnings of P63.8 million and total equity of P165.9 million.

I-Care is accredited with 493 hospitals, medical clinics, dental clinics and reference laboratories all over the country with over 6,281 medical specialists in its roster. To further strengthen its relationship with its medical providers, the company increased its rates for professional fees of members of the Philippines College of Surgeons. It maintains five provincial offices nationwide: in Cebu, Bacolod, Davao, Baguio, and Pampanga.

The company maintains a first-class, fully equipped clinic and a mobile clinic that its members extensively use. It regularly conducts orientation programs for corporate clients to ensure better understanding and appreciation of program features and benefits. The company's persistency rate reached an all-time high of 82%.

The company upgraded its Oracle database from version 8i to the web-enabled version 10g, enhancing its business processing systems.

The company remains an active member of the Association of Health Maintenance Organizations of the Philippines, Inc. (AHMOPI), the recognized trade association of HMOs in the Philippines. I-Care president Carlos D. Da Silva is a member of the Board of Trustees of the AHMOPI and has been re-elected president of the Association for a sixth term.

For inquiries, contact:

Carlos D. Da Silva President Concurrent Head of Medical Operations	Laarni F. Garraton Vice President & Chief Financial Officer & Head of Administrative Operations
Seraline L. Manguni, FASP, FLMI First Vice President & Actuary Head of Technical Operations	Hoagy P. Arriola Vice President Head of Marketing Operations
I-Care Building 167 Legaspi Street, Legaspi Village 1229 Makati City, Philippines Website: www.icare.com.ph Tel. # (632) 813-0131 Fax # (632) 813-7903 / 813-7856 / 892-6979 Email: cdasilva@icare.com.ph      cdasilva@pacific.net.ph            lfgarraton@icare.com.ph    slmanguni@icare.com.ph            hparriola@icare.com.ph

Insular Investment and Trust Corporation

Insular Investment & Trust Corporation (IITC) achieved positive financial results in 2007 despite political tensions and increased market volatility. IITC registered a net income of P4.9 million on revenues of P38.3 million. Its total stockholders' equity reached P459.88 million while its asset base stood at P482 million.

In 2007, its Corporate Finance Division (CFD) was involved in two major deals in the corporate debt market. IITC was the co-lead manager in the Fixed Rate Corporate Notes Issue of First Philippine Holdings Corporation, which raised P5 billion. IITC was also co-manager in the five-year Redeemable Preferred Shares Issue of SM Investments Corporation, which brought in P4.5 billion. In the equities market, IITC managed to ride on the upswing in the stock market by generating a return of 36% on its trading portfolio. This compares favorably against the 21% gain of the Philippine Stock Exchange (PSE) Index on a year-on-year basis.

Meanwhile, assets under management by the Trust & Investment Management Division (TIMD) grew modestly to P1.82 billion in 2007 from P1.74 billion the previous year despite competition from the big universal banks. The Division contributed P12.6 million to the Company's gross revenues, a 16% improvement over the previous year.

In line with its investment strategy, TIMD participated in the initial public offering of Aboitiz Power, as well as in the secondary offering of Philippine National Bank, Rizal Commercial Banking Corp., and Filinvest Land Inc. It likewise became one of the funders in CFD's corporate finance deals.

For inquiries, contact us at:

INSULAR INVESTMENT AND TRUST CORPORATION
Insular Life Building
6781 Ayala Avenue, Makati City
Trunk Line: 815-9416
Fax Line: 816-0686

Contact persons:

RONNIE B. ALCANTARA
President
Tel.: 816-0617 & 816-0718
Fax: 816-0686
Email: rbalcantara@iitc-ph.com

CORPORATE FINANCE

VICTOR B. ABAD
Asst. Vice President & Compliance Officer
Tel.: 812-2810
Fax: 816-0686
Email: vbabad@iitc-ph.com

JENNIFER C. SANTAMARIA
Manager
Tel.: 813-5564
Fax: 816-0686
Email: jcsantamaria@iitc-ph.com

TRUST & INVESTMENT MANAGEMENT DIVISION

ROSALINDA A. VERGARA
Asst. Vice President & Trust Officer
Tel.: 892-1734
Fax: 816-0686
Email: ravergara@iitc-ph.com

OPERATIONS DIVISION

TRICCI ROSE A. SADIAN
Manager
Tel.: 812-2814
Fax: 816-0686
Email: trsadian@iitc-ph.com

HomeCredit Mutual Building and Loan Association, Inc.

HomeCredit Mutual Building and Loan Association's net income jumped 116% to P2.5 million in 2007, reversing a net loss of P15.7 million in 2006. This was primarily due to effective cost management that resulted in substantial savings of P4.5 million.

For the year, 3,134 individuals signed in as new members, many belonging to the country's largest Business Process Outsourcing (BPO) companies, as well as from hospitals and manufacturing companies. This represents a 61% hike from the previous years' roster of new members.

Last year, HomeCredit launched its Individual Savings Program. This targets individuals with the capacity to save and invest but lacked the investment options that would maximize the earnings and benefits of their hard-earned money.

To date, the product has received reasonable success, particularly from seafarers and maritime workers who earn substantial salaries but often are unable to save. Several maritime manning agencies have integrated the Individual Savings Program in their regularly held pre-departure orientation seminars for outgoing seafarers.

HomeCredit's total loan portfolio in 2007 stood at P167 million, broken down as follows: P59 million in mortgages, P58 million in rent-to-own, P38 million in stock loans, and P12 million in other receivables. To date, HomeCredit has provided homes to more than 300 members and their families under the rent-to-own program.

HomeCredit's main business remains to be contract savings, which is savings by means of periodic and regular accumulation of funds tied up with mortgage loans. Its related businesses revolve around savings protection schemes, home development programs, and expansion of financial sources for mortgage loans.

For inquiries contact us at

Call Center :
771-1165 Direct Line
771-1190 to 95 Trunk Line
771-1166 Fax

Level 26, Insular Life Corporate Centre
Insular Life Drive
Filinvest Corporate City
Alabang, Muntinlupa City 1781

E-mail us at : callcntr@homecredit.com.ph

Visit our website : www.homecredit.com.ph

RONNIE B. ALCANTARA - President
ILDEFONSO S. DEL ROSARIO - VP / Acting General Manager
VICTOR EMMANUEL G. MARTINEZ - VP / Head of Sales
AMOSA O. ESPIRITU - Head of Finance

Mapfre Insular Insurance Corporation

Mapfre Insular Insurance Corporation generated P1.33 billion in premiums for 2007, 12% higher than in 2006. Prudent underwriting management and control enabled the company to realize a net income of P133.5 million, 21% higher than the previous year.

Total assets stood at P2.4 billion and total stockholders' equity at P1.2 billion. This makes Mapfre Insular one of the highly capitalized non-life insurance companies in the country.

Mapfre Insular offers general insurance for optimum financial protection and risk mangement. Among the products and services available are motor vehicle, fire, and allied lines, engineering, personal accident, casualty, marine cargo, surety and livestock insurance.

The company was borne out of partnership between Insular Life and Corporacion Mapfre, an international financial group engaged in insurance, fund management and reinsurance based in Spain.