Amendments to the Terms and Conditions of Bid and Bidding Procedure for the
Rehabilitation of the Closed Export and Industry Bank ("Bidding Procedure")
(Tranche 1 – Purchase of Assets and Assumption of Liabilities of EIB)

1. Submission to the Project Team of the following documents under Section III.5 (Transaction Documents) of the Bidding Procedure has been extended until 12:00 noon, 18 October 2012:

   1. Options Matrix for Depositors/Ordinary Creditors of EIB which provides the repayment options for their deposits/receivables, and corresponding recovery enhancements for depositors/ordinary creditors; and

   2. Business Plan with corresponding 5-year financial projections indicating the strategy of the Qualified Bidder to sustain its viability and sustainability if it wins the bid for the rehabilitation of EIB.

2. Submission to the Project Team of the sworn statement under Section III.5 (Transaction Documents) of the Bidding Procedure, in the form attached as Schedule "4" of the Bidding Procedure (the "Sworn Statement"), duly executed by the Qualified Bidder thru its authorized representative may be done through electronic means no later than 17 October 2012, to be addressed to cqorbeta@pdic.gov.ph and svdabi@pdic.gov.ph. A hard copy of the Sworn Statement must be submitted to the Office of the Executive Vice-President, Receivership and Liquidation Sector, Cristina Q. Orbeta no later than 12:00 noon, 18 October 2012.

3. The comments on and suggested amendments to the Transaction Documents under Section III.5 (Transaction Documents) of the Bidding Procedure (the “Bidder’s Comments”) must be submitted to the Project Team in duplicate showing marked-up portions no later than 12:00 noon, 18 October 2012. Submission to the Project Team of the execution copies of the Transaction Documents, bearing the initials of the duly authorized signatories of the Qualified Bidder in four (4) sets, shall follow on a date to be formally announced.

4. The provisions of the Bidding Procedure shall continue to bind the Bidders and shall remain effective unless inconsistent with the provisions of this Bid Bulletin No. 1.

Makati City, 17 October 2012.

RELATED ARTICLES:

1. PDIC to bid the rehabilitation of Export & Industry Bank on Oct. 18
   Depositors Forums set
2. Notice to Depositors and Creditors of the Closed Export and Industry Bank (EIB)
3. PDIC issues bidding procedures for Tranche 1 of Export & Industry Bank rehab
   Bidding set on October 18
4. PDIC: Preparations for the bidding of Export & Industry Bank proceeding smoothly
   Bidding slated on October 18
5. PDIC urges Export & Industry Bank depositors to file deposit insurance claims
6. PDIC: Investors Interested to Bid for EIB
7. PDIC gives interested investors in EIB until August 15
8. Notice to the Depositors of H.V. Dela Costa Branch Export and Industry Bank (EIB)
9. PDIC engages financial auditor for EIB
10. PDIC to Start Payout for EIB Depositors on June 19
11. Notice to the Depositors of the Closed Export and Industry Bank
12. Statement of the Philippine Deposit Insurance Corporation on Export & Industry Bank
13. PDIC starts paying EIB depositors with account balances of ten thousand pesos and below
14. PDIC Statement on EIB Rehabilitation
15. Schedule of PDIC Depositors Forum for Depositors of the Closed Export & Industry Bank (EIB)
16. MB places Export & Industry Bank under PDIC receivership
    All valid insured deposit claims will be paid
17. Statement of the Philippine Deposit Insurance Corporation on Export and Industry Bank
    April 27, 2012
18. 2012-08 - Export & Industry Bank, Inc.