Please be advised on the following:

Pursuant to Bureau of Internal Revenue (BIR) Revenue Regulations No. 006-2010 dated 29 June 20101, promulgated to implement the tax provisions of Section 17(c) of the PDIC Charter (RA 3591), as amended, member banks mandated to withhold Creditable Withholding Tax (CWT) on assessments paid to PDIC shall withhold and remit to the BIR the two percent (2%) CWT on assessments due on or before 30 July 2010 and semestrally thereafter, up to 31 January 2014. Banks withholding the CWT on assessments shall submit to PDIC on or before 30 July 2010, the RCS and required schedules, and the certified photocopies of the following documents: Certificate of Creditable Tax Withheld at Source (BIR Form No. 2307) Monthly Alphalist of Payees (MAP) showing PDIC as one of the taxpayers subjected to CWT BIR notice of inclusion of the bank in the Top 20,000 Private Corporations The RCS, which must be prepared in quadruplicate and signed under oath by an authorized officer of the bank, and the documents listed above, shall be submitted or mailed to the following address: The Treasury Department Philippine Deposit Insurance Corporation 8th Floor, SSS Makati Building Ayala Avenue corner V. A. Rufino Street Makati City 1226 Penalties shall be imposed on banks that fail to file the RCS on the abovementioned deadline, in addition to the remedies and sanctions under RA 3591, as amended. For strict compliance.

JOSE C. NOGRALES President

23 July 2010

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¹ Subject regulations were published in the Manila Bulletin on 14 July 2010 and shall take effect on 29 July 2010