Please be informed that, pursuant to Section 30 of Republic Act No. 7653 (New Central Bank Act), the Monetary Board of the Bangko Sentral ng Pilipinas in its Resolution No. 276 dated March 4, 2010 prohibited the EUROCREDIT COMMUNITY BANK, INC. (hereinafter referred to as the “BANK”), with office address at Sto. Niño, Cagayan from doing business in the Philippines, placed its assets and affairs under receivership, and designated the Philippine Deposit Insurance Corporation (PDIC) as Receiver.

The PDIC took over the BANK, its assets, records and affairs on March 5, 2010. The assets of the BANK while in the hands of the receiver are considered in custodia legis and exempt from any order of garnishment, levy, attachment or execution.

Accordingly, all banks are hereby enjoined not to honor transactions made by any person who may have been authorized by the BANK, including its stockholders, officers or employees.

The Deputy Receiver, Rosalina G. Morales, has been authorized by PDIC to transact with depository bank/s concerning the affairs of the BANK.

March 5, 2010