Company Overview of DMCI Project Developers, Inc.

Philippine Realty and Holdings Corp. announced that it is receipt of a copy of the adverse resolution of the Court of Appeals on its motion for reconsideration on its decision of December 27, 2011 affirming the verdict of the Regional Trial Court in the case it filed against Universal Leisure Inc., DMCI Project Developers, Inc. and Universal Rightfield Property Holdings Inc. To recall, the firm filed a collection case against Universal Leisure for the balance of the purchase price of the PSE Centre West Pent house and West Podium 3 Parking Level totaling PHP 56,207,800 plus interest. The RTC ruled against Philrealty, accepting the claim of DMCI Project Developers and Universal Rightfield Property Holdings, which were Philrealty's joint venture partners in the aborted Exchange Square mixed-use tower that their cash expenditure of PHP 81,900,000 which credit was assigned to ULC was mote than sufficient to pay the balance of the purchase price. The RTC ordered Philrealty to deliver to ULC the titles of the PSE Centre units as well as to pay ULC the deemed excess payment of PHP 24,667,200.

DMCI Project Developers, Inc. is seeking to pursue acquisitions. The company's land banking initiatives for the year are ongoing, with certain properties in Taguig City being identified as possible acquisitions, Alfredo R. Austria, DMCI Project's President said in a chance interview on May 31, 2012. He declined to divulge into further details.